Kingdom Bank has partnered with Sinapis to host at least 40 local entrepreneurs for a training and business consulting clinic. Sinapis is a social enterprise that empowers MSMEs through coaching and training.
The full-day consulting services session which was done through the bank’s KB Growth Hub saw MSME owners and directors engage with experts to assess their business needs and understand their pain points from the sales and marketing, digital marketing, finance and tax perspectives.
Through the KB Growth Hub, the Bank which is a subsidiary of the Co-operative Bank of Kenya, has in quarter two of 2023 trained a total of 700 MSMEs. These businesses have since accessed short and long-term business loans to the tune of Ksh 40 million which is indicative of the impact of the trainings.
Kingdom Bank Head of SME Banking, Francis Thuo said, “Kingdom Bank is an MSME-focused bank, and we are partnering with our customers to upskill them and enhance their capacity through extending Bank-sponsored training and professional consulting services as a way of de-risking them and enhancing their business performance. We aim to ensure that these MSMEs have access to affordable credit facilities critical for their business growth in the long run.”
The training and consultation was done uniquely with the entrepreneurs having a brief business diagnosis session upon arrival and a systematic rotation to engage with the 5 consultation stations that hosted the Bank, sales and marketing, digital marketing, finance and tax experts.
In addition, Kingdom Bank has also put in place measures to support the MSMEs post-training through regular engagement and support from dedicated Relationship Managers stationed at the Bank’s 19 branches and its head office.