The choice of Equity Bank as the vessel through which these funds will be availed to entrepreneurs is not only an honour, but is a big endorsement of the bank and its operations.
Women and the youth make up a big percentage of Kenya’s workforce. Many of the sectors that are critical for economic growth in our country rely heavily on these two groups, yet in emerging markets such as Kenya, enterprises owned by these two groups have traditionally fallen below the pecking order of priorities when it comes to funding.
A big percentage of SME accounts are opened in branches, meaning a bank with vast network is important to these ventures. This means there is need to have scale in banking in order to service this sector adequately, which is one of our strongest attributes.
The Global Entrepreneurship Summit (GES), has pointed out the need to create jobs, bolster economies and eliminate barriers for inclusive growth.
With that comes a renewed global focus on small and medium enterprises (SMEs), entrepreneurship and access to capital. As has already been reported in sections of the media, local entrepreneurs will benefit from a Sh53.1 billion Equity Bank loan after multilateral lenders committed to offer the cash at the summit.
