Equity commits to support SMEs as They Scale Up into Regional Markets
By Shadrack Nyakoe
Small and medium enterprises businesspeople have been encouraged to scale up their business beyond their current geographical territory to the rest of the country and region.
The call was made Equity Bank Kenya Acting Managing Director, Moses Nyabanda, when he met over 300 SME customers in Thika for daylong networking forum.
“Equity has conducted 20 trade missions to the Democratic Republic of Congo, whose market is insatiable for most goods and services that you are involved in. You can change the narrative of our development by joining us to invest in the region to scale up your business,” he said, imploring the businesspeople to emulate Equity and be part of wealth creation agenda for Africa.
Illustrating why the Africa Recovery and Resilience Plan was drawn with micro and small and medium enterprises (MSMEs) in mind, the Nyabanda said Africa’s biggest problem is unemployment.
“Our biggest pride as equity is solving Africa’s problems and we want you to be part of the journey of finding solutions for Africa by striving to grow. If you remain small you will solve only an immediate need. If you scale up, you will solve long term needs. As a bank we will we walk with you ensure you truly scale up,” he said.
Equity Bank Kenya Associate Director Public Sector and Institutional Banking, Ambassador Mary Mugwanja, assured the customers that there is sufficient financing available for the business community and encouraged the customers to borrow to scale up their businesses.
“Kuna pesa nyingi (there is a lot of money). We have given you the information that will guide your decision making to scale up your businesses and even diversify,” she said, alluding to several presentations made by different department heads addressing payments, food and agriculture, insurance, trade and finance and more.
Mugwanja further asked the customers to consult Equity for advice on how to achieve their business strategies.
“Under the social pillar we will take you financial literacy, coach you and help you to draw your business succession plans,” she noted.
Nyabanda and his entourage visited two customers at their business locations within Thika town.
He met James Gituku, a director at Fairnuts Limited, who took him on a tour of the macadamia sorting and packaging factory.
At while at Kenblest, the MD had discussion with the trio leadership of Jinit Shah, Anju Shah and Vikesh Shah, on future partnerships prospects over cup of tea and a taste of bread produced at the 6,000 loaves of bread an hour bakery.
