Kenya’s Chase Bank has announced it has launched SME Biz Hubs in Nairobi and Mombasa, providing a physical setting for entrepreneurs to meet and obtain access to advisory services.
Chase Bank, which hopes to become the bank of choice for Kenyan small and medium enterprises (SMEs), says the SME Biz Hub is its way of promoting Kenyan entrepreneurs.
The hubs – located at Hurlingham Branch, Nairobi and Moi Avenue Branch, Mombasa – will allow Chase Bank clients and non-clients to hold meetings, while offering financial and non-financial advisory services from dedicated relationship and portfolio managers. Internet access and meeting rooms are also available.
“Entrepreneurs do not have a forum where they can meet and exchange their experiences with other entrepreneurs. They do not have a forum to engage with their financial partners. What if there was a way that they could meet together with their financial partner to share their knowledge and get financial and business advisory? Welcome to our SME Biz Hub,” Chase Bank said.
The bank said it had also streamlined its business product propositions and simplified service offerings to better suit SMEs, which it said are vital to growth, especially in developing countries.
“They are at the heart of developing countries’ entrepreneurship and the source of most new employment opportunities and productive investment,” Chase Bank said.
“SMEs also help in growth and poverty reduction around the globe. They bring innovation into the economy, despite their size, they are good in embracing new trends in the innovation industry, therefore, driving the innovation within their respective sectors. This allows SMEs to be pioneers in emerging technologies, paving the way for bigger and braver investments.”
Chase Bank has already proved to be active in the Kenyan tech startup ecosystem, recently partnering the iHub incubator in Nairobi in an arrangement that will see the two organisations collaborate on advancing the country’s tech ecosystem and offering more innovative services to the bank’s customers and the general public.