Small firms gain as banks promote SME lending
Financial institutions are giving a serious look at the SME segment. Competition has heated up with Standard Chartered, Barclays, NIC Bank and Diamond Trust all making forays into the niche.
The Kenya Industrial Development Bank (IDB) is negotiating for US$25m credit lines from two foreign-based financial institutions.
The Cabinet has approved the much-awaited Micro Finance Bill that will offer a legal framework to players in the sub-sector.