SBM Bank Kenya Limited Signs USD 10 Million Guarantee with African Guarantee Fund to Finance MSMEs and Women-led Enterprises

Nairobi, October 3, 2022: SBM Bank Kenya has today sealed a risk-sharing agreement with African Guarantee Fund (AGF) amounting to USD 10,000,000, to increase its financing of Micro, Small and Medium-sized Enterprises (MSMEs).

The facility unlocks opportunities for the MSMEs together with transactions in the green space and women-led enterprises to access credit on favourable terms, mitigating the challenges they experience in scaling up their businesses and increasing their contribution to wealth creation and job opportunities.

Speaking during the signing ceremony, SBM Bank Kenya Limited CEO, Moezz Mir said, “Considering the financial hurdles experienced by most SMEs due to their risk profile and lack of security, SBM is always exploring innovative ways to mitigate possible risks in this sector and help SMEs overcome this challenge.’’

Mr. Mir revealed that the Bank’s move to engage in such strategic alliances is aimed at realizing its strategic objectives which are centred around transforming the SMEs sector, supporting women-led businesses, and offering sustainable finance to businesses that focus on clean energy, cleaner production, green services, and climate-smart agriculture and natural resource management.

“This facility is unique in several ways as it represents investment, productivity, and the acceleration of growth opportunities and realization of the UN sustainable development goals. As a progressive bank, we are deliberately playing a part in transforming the livelihoods of the Kenyan people by opening up markets for green businesses, acceleration of wealth creation and improving the quality of life.” added Mr. Mir.

African Guarantee Fund Group CEO, Jules Ngankam ascertained that the partnership with SBM Bank will empower SMEs to play their pivotal role in economic development, innovation, and job creation in Kenya.

“Our guarantee agreement with SBM Bank Kenya is structured to solve the holistic needs of SMEs by not only reducing their perceived risk, but also enabling the Bank, through our Capacity Development initiative to help small businesses ramp up their skills in areas such as leadership, human capital management, technology, financial management, and marketing. This will equip SMEs with appropriate financial management capabilities and boost their credit threshold requirements.” said Mr. Ngankam

“Additionally, this partnership will on the one hand empower women entrepreneurs through our AFAWA Guarantee for Growth product, and on the other hand foster sustainable growth by increasing financing of climate-focused SMEs through our Green Guarantee facility.” added Mr. Ngankam.

In the last few years, SBM has taken a prudent approach to SME empowerment especially for the post-pandemic period, in which business owners are trained on business sustainability, fundraising, bookkeeping, and networking to assure profitable operations through individualized propositions and products.

The partnership agreement between the two institutions is expected to impact hundreds of SMEs across the country in the next 5 years.

Open an Account

Transact

Get a Loan

Investment

Open an Account

SME Solutions

Get a Loan

Open an Account

Corporate Solutions

Financing

Open an Account

Invest

Transact

SBM Bank Kenya Limited Signs USD 10 Million Guarantee with African Guarantee Fund to Finance MSMEs and Women-led Enterprises

Download the Mfukoni App today

Related stories

Our contact centre is now available 24/7 365 days a year

Maximize Your Financial Potential: Smart Investment Strategies in Kenya

Making Unsecured Business Loans work for You

SBM BANK KENYA APPOINTS MR. BHARTESH SHAH AS NEW CHIEF EXECUTIVE OFFICER

How A Business Loan Can Save, Sustain Or Grow Your Business

Our contact centre is now available 24/7 365 days a year

SBM Bank (K) donated food packs worth Kes. 1 million to Shining Hope for Communities (SHOFCO)

UNLOCKING OPPORTUNITIES: WHY DIASPORA SHOULD INVEST IN KENYA

Unlock Rewards Instantly with Mfukoni Self-Registration – Here’s Why You Should Join the Movement

Get An Unsecured Business Loan Of Up To KES 5 Million

SBM Bank (K) donates Kes 200,000 to New Life Home

Update on mfukoni mobile and online banking

Branch Closure

Account to Mobile Wallet Charges

Bboxx Secures KES 1.6 Billion Loan From SBM Bank, Partially Guaranteed By Guarantco, To Finance Affordable Solar Home Systems For Nearly Half A Million Kenyans

SBM Bank (Kenya) Limited on a steady growth trajectory

Sbm Bank Bounces Back To Profitability, Setting The Stage For Bold Growth

SBM Bank Kenya and DHL Join Forces to Empower Kenyan SMEs

SBM Bank Enters deal with Tata Holdings Africa to Offer 100% Vehicle Financing

Understanding Wealth Creation and Debt Management Plan

How SBM Bancassurance Ensures Financial Security with Seamless, Tailored Insurance Solutions

SBM Bank (K) Newsletter - Q2, 2024

International MSME Day

Enhance Your Business Finances with SBM Bank

SBM Bank furthers its sustainability agenda by empowering women in entrepreneurship

How Does Mindset and Strategic Financial Planning Contribute to Success?

SBM Holdings Ltd

SBM BANK KENYA TO EMPOWER OVER 500 WOMEN ENTREPRENEURS TO SCALE UP THEIR SME BUSINESSES

SBM BANK KENYA AND PESALINK INK DEAL OFFERING LOWEST TRANSFER FEES IN THE MARKET

Women Markets Program Newsletter

Managing Customer Experience in the Digital Age

SBM Bank – Beyond Wealth Magazine

SBM Bank Kenya Announces Partnership with Nairobi Polo Club for 2023/24 Season

Why Smart Investors Use High-Interest Savings Accounts for Holiday Expenses

How to Access the SBM Bank Mfukoni App – A Simple, Step-by-Step Guide

SBM Bank and Caetano Partner to Boost Access to Vehicle and Equipment Financing

MFUKONI APP: THE AWARD-WINNING BANKING SOLUTION THAT PUTS PEOPLE FIRST

SBM BANK SUSTAINS PROFITABILITY STREAK, POSTING COMMENDABLE RESULTS FOR THE FIRST NINE MONTHS OF THE YEAR ANCHORED ON ITS TURNAROUND STRATEGY

SBM BANK AND SERENA HOTELS FORGE STRATEGIC PARTNERSHIP TO ENHANCE TOURISM AND CONSUMER EXPERIENCES

Tuma na Mbao, Save More: How SBM Bank and Pesalink Are Changing the Way Kenyans Transfer Money

Statement On The Statutory Demand By Afrasia Bank Limited Against SBM Bank (Kenya) Limited

SBM Bank Kenya Adopts Mastercard to Accelerate Payments Innovation

Plan Your Finances Wisely: Harness the Power of the Best Loan Calculator

Enhance your Business Finances: Practical Strategies for Sustainable Growth

Simplify Your Financial Planning in Kenya

Smarter Insights Newsletter – Q3 (July-September 2024)

Powering a Global Lifestyle: SBM Bank’s Multicurrency Card Delivers the Ultimate Borderless Banking Experience

SBM partners with Union Pay to roll out credit cards.

SBM BANK KENYA PROPELS INSURANCE UPTAKE WITH NEW BANCASSURANCE INTERMEDIARY

SBM Bank: Giving You the Best Online Banking Services

SBM BANK AND CBI PARTNER TO EMPOWER WOMEN IN GLOBAL TRADE

SBM Bank and Mastercard Enter into a 10-Year Strategic Agreement to Advance Innovation in Financial Technology

SBM Bank Kenya Launches Busara Banking App to Empower Parents in Raising Financially Responsible Children

Pesalink Awards: SBM Bags Triple Honours as Instant Payments Reshape Banking on Digital Platforms

CELEBRATING INTERNATIONAL WOMEN'S DAY LUNCHEON

SBM Bank Kenya Honored as 'Fastest Growing Corporate Bank' by Global Brands Awards 2024

SBM BANK KENYA CHAMPIONS TURTLE CONSERVATION IN DEDICATED SUSTAINABILITY DRIVE

Unlock Exclusive Easter Discounts with Your SBM Card!

How to Start Small and Earn Big with SBM’s Platinum Saver

Q1 2025

Honour the Hero in Your Life: Celebrate Fathers this Month with Exclusive Offers

The Heart of Society: Honoring Women’s Strength with SBM Bank

SBM Bank Triumphs with the 2024 Marketing Society Award for Best Product Relaunch

SBM Bank Reinforces its Sustainability Agenda Through a Beach Clean-Up Exercise