Stanbic Bank has announced that will sponsor this year’s Changamka Kenya Shopping Festival which is organized by the Kenya Association of Manufacturers (KAM). The bank has sponsored the festival to the tune of Ksh. 4.5 million.
The 7th edition of the Changamka Kenya Shopping Festival will be held on November 5-7 2024 under the theme Celebrating the Ingenuity of Kenya’s Manufacturing Sector.
The festival is scheduled to take place from November 5-9, 2024, will be hosted at the Kenyatta International Convention Centre (KICC). It will happen concurrently with the Kenya Industrialization Conference as part of the Africa Industrialization Week.
The festival will feature over 200 exhibitors, including over 100 manufacturing Small and Medium Enterprises (SMEs). As in previous years, it will showcase the best of locally manufactured goods, aligning with the Buy Kenya Build Kenya Strategy. The strategy is central to both the Changamka Festival and the Kenya Industrialization Conference.
While supporting the festival, Stanbic Bank has reiterated its support for the “Buy Kenya, Build Kenya initiative which matches its strategy to promote local industries. They do this through market facilitation, trade promotion, and financial inclusion.
The bank is also committed to supporting SMEs through initiatives such as the ongoing Unlock New Horizons campaign where it provides financial resources and tools necessary to scale SMEs operations. They offer products such as working capital loans, LPO financing, and trade finance.
Other ways it supports businesses includes
- Renewable energy financing solutions, including solar financing, which has proven to reduce energy costs by up to 30%.
- Vehicle and Asset Financing (VAF) and leasing solutions support the acquisition of energy-efficient machinery and equipment.
- Stanbic Bank helps businesses expand their reach both locally and internationally through their Africa-China Partnership. This collaboration opens new markets for local manufacturers, secures affordable raw materials, and integrates them into global supply chains.
- Stanbic Bank offers tailored trade finance solutions through Letters of Credit and Bank Guarantees, which help businesses import raw materials and ensure a seamless flow of goods across distribution channels.