By Eddah Waithaka
SBM Bank Kenya has launched three SME business hubs today, marking a significant step in strengthening financial and non-financial advisory support for small and medium-sized enterprises (SMEs) across the country.
The bank has strategically positioned the hubs in Nairobi’s Central Business District, Kilimani, and Karen to create a balanced ecosystem for business owners.
These hubs will provide dedicated working spaces where the bank will host business clinics and capacity-building forums tailored to SMEs.
During the launch event, SBM Bank Kenya Board Chair Shakilla Jhungeer highlighted the bank’s unwavering commitment to supporting SMEs and fostering an enabling environment for their growth.
She stated, “At SBM Bank, we recognize that SMEs are the backbone of our economy as they drive job and wealth creation. The launch of these business hubs reaffirms our commitment to empowering SMEs. They will serve as a transformational platform, offering financial advice, tools, and resources to help small and medium-sized businesses scale up.”
The hubs will also function as exclusive walk-in workspaces, allowing SBM Bank’s SME clients to host meetings with their clients and business partners.
This dual-purpose approach aims to provide entrepreneurs with both the physical infrastructure and the advisory support they need to thrive.
The launch of the SME business hubs aligns with SBM Bank’s long-term strategy to empower SMEs through tailored financial solutions. The bank aims to work hand in hand with entrepreneurs to scale their businesses effectively.
Ms. Jhungeer added, “As part of our continued SME-focused initiatives, SBM Bank will expand the reach of these business hubs to ensure more entrepreneurs benefit from financial and capacity-building support.”
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This initiative follows the recent rollout of SBM Bank’s ‘Jijenge Biashara’ solution, which supports SMEs by offering loans worth twice their savings amount.
The savings also earn interest, providing businesses with additional financial resources for both short- and long-term investments.
Additionally, SBM Bank has secured a USD 10 million risk-sharing agreement with the African Guarantee Fund. This partnership enables the bank to de-risk lending and provide more financing to SMEs, particularly women-led enterprises.
The agreement also focuses on building capacity in critical areas such as financial management and marketing. With the launch of the SME business hubs, SBM Bank Kenya continues to demonstrate its dedication to fostering entrepreneurial growth and driving economic development across the country.
Entrepreneurs are encouraged to take full advantage of these hubs to access the tools and resources needed to elevate their businesses to new heights.
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