Family Bank and Wylde International have entered into a partnership that will see them collaborate to develop the Small and Medium Enterprises(SME) ecosystem through capacity-building trainings to help build resilient businesses.
The partnership will see SMEs gain value in digital marketing, business strategy, planning, legal and compliance issues, sales and governance.
“As a Bank, our focus is particularly on the SME market who make up 80 per cent of our customer base. In light of this, as a financial institution, we recognize that we need to better empower and drive value to SMEs. Therefore, by offering such capacity training, we are complimenting the financial support with the right technical skills for wholistic growth,” said Family Bank Chief Retail Officer Phyllis Kimani.
Data from Mastercard indicates that in Sub-Saharan Africa alone, there are 44 million Micro, Small and Medium Enterprises which offer an estimated 80% of jobs across the continent. In Kenya, MSMEs contribute approximately 40 per cent of the GDP.
“SMEs are by their nature an ecosystem. Through this partnership with Family Bank, we aim to add value by scaling up SME businesses and dealing with the pain points that hinder the growth of so many SMEs,” said Wylde International Director Kiriinya Kithinji.