[Kenya] Stanbic Bank launches financial literacy programme for its SME customers
Stanbic Bank has launched a training and mentoring programme for small and medium enterprises (SMEs) in partnership with Strathmore Business School.
The capacity building initiative dubbed ‘BizConnect’ is aimed at providing strategic solutions to SMEs to enhance their operational efficiency and imparting skills on basic methods of business and financial management.
Speaking during the launch of the programmes at Strathmore Business School Stanbic Bank Chief Executive Phillip Odera said the training programme has been running since 2016 exposes business owners to critical skills and tools for effective leadership in business and gives them the unique opportunity to reflect on their current leadership abilities as well as enhance their leadership and management skills.
“As a bank we are aware of the challenges SMEs face such as access to finance and the lack of financial skills and business management capabilities. We believe that we are as good as our customers and are therefore determined and committed to support our SME customers not just in providing basic banking services but more importantly helping them acquire the right skills required to be successful,” Mr. Odera said.
Having run a number of programs last year, BizConnect empowers our customers with knowledge and tools required to move their businesses to the next level, as you have heard from some of the program participants last year.”
He said the SMEs sector contributes significantly to the Kenya’s Gross Domestic Product and creates more than half of all new jobs.
“Giving adequate support to the SME sector is therefore very critical in moving the sector and the country forward,” he said.
The two day enterprise development training sessions will be held in Nairobi and other parts of the country to benefit the bank’s current and potential clients. The training will also help build a close community of business owners who encourage and support each other to build successful and sustainable businesses.