The NCBA bank opened its 73rd branch in the country at the Mwembe Tayari Mall within the Mombasa central business district.
Tourism Cabinet Secretary Najib Balala was the official guest during the launch.This is NCBA’s ninth branch in the Coastal region.
The bank’s Group Director of Retail Banking Business Tirus Mwithiga said they are targeting to open 15 new branches in the country by the end of the year.
Mwithiga said they are focused on assisting small business owners to secure loans to expand and sustain their businesses.
He said that they are using the government’s Sh10 billion Credit Guarantee Scheme, launched by The National Treasury last December, to cushion Small, Micro and Medium Enterprises (SMEs) against the ravaging effects of Covid-19 on the economy.
“We are on an expansion mode targeting to open 15 new branches by the end of the year, our focus is on small business owners to help secure loans without security in line with the government’s credit guarantee scheme,” said Mwithiga.
He added that the expansions will have significant impacts in the banking and financial sector, whilst creating job opportunities for over 200 people.
Balala lauded the bank’s expansion program, especially in Mombasa, which he said was the region’s heart of business entrepreneurship.
Balala said Mombasa’s economy is growing because of the conducive business environment that is attracting more investors into the county.
“We want to attract more investors in the county. More investment means more job opportunities for our people,” said Balala.
The CS said the young generation at the Coast region is highly educated and yearning for opportunities, hence the need to diversify and stop depending on the tourism sector alone.
He said agriculture and the blue economy have a potential to employ more youth.
“The region has the potential to transform. We should stop focusing on tourism alone because there are a lot of opportunities in the agriculture and blue economy,” said Balala.
By Hussein Abdullahi