Partnership

Nairobi Wednesday 9 July 2014, KNA by Abigael Chirchir/Albert Bwana

KCB, Safaricom unveils deal to help grow SMEs

Kenya Commercial Bank (KCB) and Safaricom have launched a one-stop solution platform to meet the needs of small and medium enterprises (SMEs).  

The one-stop solution dubbed ‘Biashar@Smart’ will enable more than one million registered Micro and SMEs to scale up their growth while nurturing enterprise through smart tips on cost management, loyalty programmes and preferential business opportunities.

Industrialisation and Enterprise Development Cabinet Secretary, Adan Mohammed lauded KCB and Safaricom for the launching ‘Biashar@smart’ saying the initiative will make SMEs thrive. 

Mohamed said SMEs play a key in the growth of the economy “SMEs employ up to 80 percent of people living in Kenya. They account for 92 percent of all new jobs that are created and contribute up to 45 percent of the Gross Domestic Product,” said Mohammed.

The Cabinet Secretary added “these statistics can only get better through the successful implementation of Biashar@smart.”

KCB Group CEO Joshua Oigara said ‘Biashar@smart’ will transform SMEs employs 7.5 million people and accounts for 80 percent of the employment market while contributing over 92 percent of new jobs created annually according to Kenya National Bureau of Statistics.

Safaricom CEO Bob Collymore said through the partnership with KCB they are also going to facilitate capacity building initiatives, preferential propositions and loyalty programmes that will transform how SMEs do business.

“We will soon launch Biashara tips and Biashara Club which will open up networking and new business opportunities for SMEs,” said Collymore.

ENDS/Boniface Muoka