Nyamira County, led by Governor Amos Nyaribo has signed a financial partnership with Kenya Commercial Bank (KCB) amounting to Sh130 million shillings issued at subsidized interest rates so as to boost women and youth business startups.
During the occasion, Governor Nyaribo commended the mutual relationship that exist between the two institutions adding that having worked together for several years now accrued numerous benefits over time.
“The first year of disbursement we have agreed that the county will contribute Ksh.15 million and the bank will give us 15 million and the investment capital will be increased for access gradually depending on how much the county will progressively invest annually to boost business startup with loans at very minimal interest rates.” Nyaribo explained.
“Youths who will be trained in our already completed County ICT labs will consequently have an opportunity to access capital to strengthen youth led and owned businesses specifically micro, small, and medium enterprises (MSMEs).” The county boss emphasized.
Ms. Anastacia Kimtai, the Managing Director, Kenya (MDK) at Kenya Commercial Bank (KCB) admitted the Governor has been a loyal client with a desire to improve the livelihood of his people the reason why he said the partnership deal must work to help especially the vulnerable groups on his county.
We appreciate the long-standing relationship and the partnerships we have signed to collaborate in matters business to improve people’s livelihoods in Nyamira County. The bank through KCB foundation sets aside 1.5% everywhere where we are located in the entire country to undertake Corporate Social Responsibility (CSR).
MD Kimtai affirmed that KCB has managed to support 125 high school students from very vulnerable background and support them all the way to university and confirmed they are already supporting 13 students enrolled in various universities in the country and have worked closely with learning institutions in Nyamira to plant 3000 trees to maintain the county’s greenery.
“KCB is more than ready to walk with you to transform the lives of Nyamira residents especially women and youth in business. Women are very assertive in businesses and have got genuine support and goodwill from their spouses to advance in business. The spirit of hard work has endeared KCB to set aside 250 billion shillings to support the women’s access credit. Nyamira branch has managed to disburse Sh150 million to support the women in business.” Ms. Kimtai said.
She stated that she believes that when a woman is supported the entire community has also been supported. She assured that when women are supported in leadership unity is created and family ties solidified. She challenged men to support their women venturing in business for then they are nurturing future leaders.
“Capacity building and training the youth and women to ensure they know what the profit margins to be able cushion them from consuming the working capital is our business since we want these businesses to grow from the macros, SME and tomorrow they become the corporates of this county.” said Ms. Kimtai
KCB MD was excited that the leadership of Nyamira County is in full support of business partnership pointing out that KCB is the bank of Kenya for Kenyans and promised to strengthen the ties to ensure the lives of the people and clients we serve are improved.
By Deborah Bochere
