Stanbic Bank Kenya has been named the ‘Best Pan-African Bank for SMEs’ at the EMEA Finance African Banking Awards 2024.
Stanbic Bank Kenya’s commitment to SME growth extends beyond financial products, as the bank continues to drive economic inclusion and job creation through its operations. In the financial year ending December 2024, 9% of the bank’s loan book was allocated to the agricultural sector, with KES 76 billion in trade loans disbursed to support business expansion.
Through the Stanbic Foundation-USADF grant program, over 400 jobs were created, while more than 8,000 individuals received financial fitness training. The bank also provided KES 63 million in concessionary funding to micro, small, and medium enterprises (MSMEs), and since inception, KES 37.8 billion has been lent to women entrepreneurs through the D.A.D.A program.
Ms Florence Wanja, Head of Business and Commercial Banking at Stanbic Bank Kenya said: “We understand that SMEs are the backbone of Kenya’s economy, and our goal is to ensure they have the resources, expertise, and financial solutions they need to thrive. By investing in SME-focused solutions, we are not only enabling businesses to scale but also creating employment opportunities and driving economic progress.”
In 2024, Stanbic Bank Kenya launched the ‘Unlock New Horizons’ campaign, an initiative designed to expand opportunities for SMEs by increasing access to financing, advisory services, and digital banking tools. This campaign, which continues this year, reflects the bank’s commitment to sectors that drive economic growth, with SMEs at the center of this vision.
Stanbic Bank Kenya continues to invest in digital transformation to enhance SME banking experiences, providing seamless financial solutions tailored to business needs. The bank’s investment in technology has strengthened customer acquisition, expanded its loan book, and facilitated business growth through innovative platforms.
“We recognize that technology is a powerful enabler for SMEs, allowing them to operate more efficiently, manage cash flow effectively, and access financial solutions in real-time. Our digital banking solutions are designed to ensure that businesses, regardless of their size, can compete in today’s fast-evolving marketplace,” said Ms Wanja.
The regional award as the ‘Best Pan-African Bank for SMEs’ underscores Stanbic Bank Kenya’s capabilities, reach, and market leadership. With a strong understanding of local business dynamics, coupled with its expertise in cross-border trade and Africa-China partnerships, the bank continues to position itself as a key player in transregional trade.
“Beyond financing, Stanbic Bank Kenya offers SMEs critical advisory and networking opportunities. Through initiatives such as the Africa Trade Barometer, the bank provides valuable insights into market trends, empowering businesses to make informed decisions. Additionally, the bank actively sponsors key SME-focused events, such as the Changamka Shopping Festival, demonstrating a commitment to capacity building and market access,” said Ms. Wanja.
The EMEA Finance African Banking Awards highlight institutions that deliver excellence despite challenging macroeconomic conditions, with a particular focus on innovation in digital services and commitment to supporting economic development.
As part of the Standard Bank Group, the largest African bank by assets operating in 20 African countries, Stanbic Bank Kenya continues to focus on expanding financial inclusion for underserved entrepreneurs and developing essential business insights to help SMEs make informed decisions in an increasingly competitive landscape.
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