KNCCI officials and Equity Group Chief Commercial Officer Polycarp Igathe (right) on October 13, 2020 during the signing of an MoU post Covid-19 financial support to businesses.
Equity Bank signed an MoU with KNCCI aimed at having the chamber’s members access credit from the lender.
According to the MoU, the chamber will recommend businesses constituting its members for credit facilitation by the bank.
The bank said it had set aside Sh200 billion to lend to chamber members.
Millions of small businesses continue to suffer financial starvation and the risk of closure as a result of the hit they took at the hands of Covid-19.
This is despite the government’s promise to set up a credit guarantee scheme for small and medium sized enterprises (SMEs) as a recovery measure.
