Bank plans China trip in new focus on SME growth
What you need to know:
- Among the initiatives the bank has lined up for its SME customers is a visit to China to identify and explore export-business opportunities. China is one of the world’s fastest growing economies.
National Bank of Kenya is turning its focus on small and medium enterprises (SMEs), as it charts its next frontier for growth in pursuit of tier-one status by 2017.
According to the bank’s executive director for Retail and Business Banking, Mr Robert Kibaara, the SME sector is a key pillar that the institution is betting on to grow its portfolio.
“We will strive to empower our business customers and our aim is to see our small and medium entrepreneurs graduate into medium-sized companies or even large organisations by giving them international exposure where they are able to network,” Mr Kibaara said in a statement.
Among the initiatives the bank has lined up for its SME customers is a visit to China to identify and explore export-business opportunities. China is one of the world’s fastest growing economies.
The visit, scheduled for March 24, will expose SMEs to international business models and enable them to learn from similar, more established firms.
10-day trip
The 10-day trip will take the members through Hong Kong, Sheng Zen, Guangzhou and Yiwu.
The entrepreneurs are scheduled to hold meetings with business people and make contacts and purchases, as well as visit a number of trade exhibitions in China.
“We have chosen these destinations for their position in China’s commercial spectrum. Hong Kong is the western representation of China; the Sheng Zen business model is unique; Guangzhou is the commercial hub of China; and Yiwu resonates well with our SME players,” Mr Kibara said.
He noted that the bank was in the process of establishing a business club for SME clients.
