top 7 Best Banks For SMEs in Kenya
This article is about top 7 Best Banks For SMEs in Kenya. SMEs in Kenya play an important role in economic growth and development. They contribute about 45% of the country’s GDP.
This article will focus on the best banks for SMEs in Kenya, based on awards such as Think Business Awards and Euromoney Awards, which are annual awards that seek to recognize and reward excellence in the banking sector.
Best Banks For SMEs in Kenya
In no particular order, here is a list of the top banks for SMEs in Kenya.
Equity Bank was named Africa’s best SME bank at the Euromoney Awards 2021. This confirms Equity as the preferred bank for SMEs in the country. The bank prioritizes financing for SMEs in the agriculture, manufacturing, household, banking and healthcare sectors.
Absa is one of the best SME banks in Kenya. This is based on the Think Business Awards 2021. It offers trending solutions and helps SMEs boost their businesses by providing them with affordable business accounts and loan solutions.
Co-operative Bank supports MSMEs in Kenya by offering solutions that meet the needs and support entrepreneurs in managing and growing their businesses. The bank offers SME loan products and corporate accounts with packages suited to your business needs.
Family Bank helps SMEs meet their financial needs by offering corporate banking services and loans such as Jenga Bizna and Biashara Boost, designed for micro-enterprises that need funds to profitably expand their existing lines of business.
Stanbic Bank has a proven track record of supporting Kenyan businesses with a comprehensive portfolio of banking services, offering reliable banking solutions such as Business Current Account, Business Overdraft and Bizna SME Loan, designed with the needs of Kenyan small businesses in mind. .
Credit Bank was recognized as Kenya’s Best Digital Bank and Most Innovative SME Bank by the International Business Magazine Awards in 2021. Ban recently announced a program called ElevateHer which will enable women-owned businesses to take out loans between Ksh 75,000 and Ksh 3 million in categories such as Her Trade Up Loan, Her Business Loan and Her Trade Loan, which attract a preferential interest fee repayable in four years.
Diamond Trust Bank (DTB)
DTB emerged among the top three SME banks at the 2021 Think Business Awards. He became famous in Kenya as “The Pmi Bank” because of his support for small and medium -sized enterprises. It provides good commercial accounts and convenient loans for SMEs.