Standard Chartered Bank has launched a small- and medium-sized enterprises (SMEs) division. It is expected to help the bank diversify and increase lending to SMEs.
"If there is a sector that will increase employment opportunities in a sustainable way, it will be the small business enterprises and it needs all the support it can get," Sheila M’Mbijjiwe, Standard Chartered’s executive director and head of Consumer Banking in East Africa said.
The new product will offer customers flexible credit facilities that should enhance their ability to run their daily expenses.
