Kenya’s banking sector is increasingly changing. With more than 42 financial institutions, serving a banking population of slightly above 10 million, Kenyans are in search of a lender that gives them the best.
With the hard economic times that have left the pockets of many empty and yawning, Kenyans are looking for a lender who has quality services but friendly to their pockets in terms of charges.
Different lenders in Kenya charge differently for their services, but according to Think Business, ABC Bank is the lowest in terms of charging their individual customers.
The bank scooped the Bank with the Lowest Charge Overall Award during the Think Business Banking Award Gala that went down at the Movenpick Hotel, Nairobi.
The lender also scooped the 2nd Runners-Up Bank with the Lowest Charges for individuals. Bagging the awards for Bank with the lowest charges three years in a row affirms the Bank’s commitment to offer innovative and affordable financial solutions that meet our customers’ needs.
— ThinkBusiness Africa (@ThinkBizAfrica) May 17, 2019
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Supporting the SME
Kenya’s SME sector has been going through both an economic and financial turmoil over the years. Stats show that at least 400,000 SMEs close shop annually in Kenya due to lack of credit among other factors.
The SME sector plays a major important role in Kenya’s economy. The sector employs 86 percent of Kenyan while contributing at least 45 percent to the country’s gross domestic product (GDP).
With the urge to find a lender that understands them, most SMEs are in constant search of financial institutions that are ready to support and walk with them from nothing to something such as ABC Bank.
ABC Bank has a product that is tailored towards empowering SMEs financially. The Hazina SME account provides an SME with an opportunity to manage their finances while enjoying a dedicated business advisory support whenever they need it.
The account comes with a nil operating balance, Cheque book, and availability of USD, GBP and EUR and an overdraft facility.