Stanbic Bank Kenya has been honored as the ‘Best Pan-African Bank for SMEs’ at the prestigious EMEA Finance African Banking Awards 2024. This recognition underscores the bank’s dedication to empowering Small and Medium Enterprises (SMEs) across Kenya and the continent through strategic financial and advisory services.
With SMEs forming the backbone of Kenya’s economy, Stanbic Bank has continuously expanded its efforts to provide tailored financial solutions, ensuring these businesses thrive. In the financial year ending December 2024, the bank allocated 9 percent of its loan book to the agricultural sector, disbursing KSh76 billion in trade loans to support business expansion. Additionally, through the Stanbic Foundation-USADF grant program, over 400 jobs were created, and more than 8,000 individuals received financial fitness training.
Beyond financial products, Stanbic has actively promoted economic inclusion and job creation. The bank provided KSh63 million in concessionary funding to Micro, Small, and Medium Enterprises (MSMEs) while its D.A.D.A. program has facilitated KSh37.8 billion in loans to women entrepreneurs since its inception. These initiatives have significantly contributed to enhancing financial accessibility and fostering business sustainability.
Florence Wanja, Head of Business and Commercial Banking at Stanbic Bank Kenya, emphasized the institution’s commitment to SMEs, stating, “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.”
In 2024, the bank launched the ‘Unlock New Horizons’ campaign to expand opportunities for SMEs through increased access to financing, advisory services, and digital banking tools. This initiative aligns with Stanbic’s broader mission to drive economic growth by equipping SMEs with the necessary resources to scale their operations.
Recognizing the transformative role of technology, Stanbic has invested in digital banking solutions to enhance customer experiences, streamline cash flow management, and enable real-time financial access. These innovations have strengthened customer acquisition, expanded the bank’s loan portfolio, and facilitated business growth.
The EMEA Finance African Banking Awards celebrate excellence in banking, with a focus on digital innovation and economic impact. With this accolade, Stanbic Bank Kenya reaffirms its leadership in SME banking and its commitment to financial inclusion and business development in Africa.
