Key Microfinance Bank eyes SMEs with expansion

Key Microfinance Bank PLC, formerly known as Remu has rebranded in its quest to reposition its national outlook and market niche in SME and micro business.

Acting chief executive Gregory Siro said with the rebranding, it aims to raise KSh500 million in capital over the next five years to fund expansion from its shareholders who include private equity and fund management firm Fusion Capital that holds a 25 percent stake in the microlender.

“The rebrand will not only unlock the bank’s potential but will also enable it reach out to more customers countrywide. The move will also enable the bank to roll out a more diversified product mix to its target market,” said Mr Siro said during the official rebrand ceremony in Nairobi.

Key Microfinance Bank PLC eyes strategic partnerships to grow its assets base to Sh1.2 billion by 2021.

The Central Bank of Kenya (CBK) licensed Remu as deposit-taking microfinance in 2011. Its shareholders include private equity and fund management firm Fusion Capital, which took a 25% stake in 2014.