Nyamira: Nyamira County, under the leadership of Governor Amos Nyaribo, has forged a financial partnership with Kenya Commercial Bank (KCB) to the tune of Sh130 million. This agreement aims to provide loans at subsidized interest rates to boost business startups led by women and youth.
According to Kenya News Agency, Governor Nyaribo expressed his satisfaction with the longstanding relationship between Nyamira County and KCB, highlighting the mutual benefits that have accrued over the years. He announced that in the first year, both the county and the bank would each contribute Ksh.15 million. The investment capital is expected to grow gradually based on the county’s annual contributions, offering minimal interest rate loans to support business startups.
Governor Nyaribo emphasized that youths trained in the county’s completed ICT labs will have access to capital to strengthen their micro, small, and medium enterprises (MSMEs).
Ms. Anastacia Kimtai, the Managing Director of Kenya Commercial Bank, acknowledged Governor Nyaribo’s commitment to improving the livelihoods of his constituents, especially the vulnerable groups. She expressed gratitude for the partnership, noting that KCB allocates 1.5% of its resources for Corporate Social Responsibility (CSR) in all its locations across the country.
Ms. Kimtai highlighted KCB’s efforts in supporting education, mentioning that the bank has assisted 125 high school students from vulnerable backgrounds up to university level. Additionally, KCB has collaborated with learning institutions in Nyamira to plant 3,000 trees, contributing to the county’s greenery.
She reiterated KCB’s commitment to transforming the lives of Nyamira residents, especially women and youth in business, by setting aside 250 billion shillings to support women’s access to credit. The Nyamira branch has already disbursed Sh150 million to support women entrepreneurs.
Ms. Kimtai stated her belief that supporting women leads to community support, unity in leadership, and stronger family ties. She encouraged men to support women in business, as it nurtures future leaders. She also emphasized KCB’s role in capacity building and training to ensure sustainable business growth from SMEs to large corporates.
Ms. Kimtai expressed excitement about Nyamira County’s support for the partnership, affirming KCB’s commitment to enhancing the lives of the people and clients they serve.