This archive report was first published on 23 August 2019.
On August 23, 2019, Credit Bank emphasized the importance of strengthening startup hubs to enable small businesses to achieve a breakthrough in Kenya. The bank has been at the forefront of enabling the growth of SMEs in the country.
Credit Bank's Head of Business and Marketing, Pamela Mutembei, identified lack of funding and rigorous mentorship as significant challenges faced by small businesses. She noted that entrepreneurs often lack the resources or skills to set up systems for smooth operations, and human resources are a vital part of running a business.
In response to these challenges, Credit Bank established the Entrepreneurs' Hub (E-Hub) to provide a platform for entrepreneurs to overcome various difficulties. The lender also opened a new branch in Eldoret in April, targeting SMEs and farmers in the Rift Valley and Western Kenya regions.
Chief Executive Officer Betty Korir stated that the decision to open the new branch was guided by the growth of business in and around Eldoret town. The bank remains committed to impacting the economy through working together with SMEs and building financial solutions tailored to their needs.
