Family Bank Unveils KSh1.3bn Funding for Health SMEs

Family Bank Unveils KSh1.3bn Funding for Health SMEs

Family Bank Kenya Branch in Nairobi

Family Bank has introduced a KSh 1.3 billion fund targeting Micro, Small, and Medium-Sized Medical Enterprises focusing on health.

This five-year partnership with Wellwise Solutions, an East African Healthcare consulting firm, targets over 2,000 private and faith-based medical facilities.

The MSMMEs will be able to access credit to procure medical equipment, pharmaceuticals, and non-pharmaceuticals, acquire working capital, hospital construction, and finance infrastructure development. Available from Ksh 50,000 to Ksh 250,000.

“Our main aim is to ease access to capital for private healthcare entrepreneurs hence promoting the provision of quality essential healthcare services, acquisition of new technology, and increase employment rate within the sector,” said Family Bank Chief Executive Officer Rebecca Mbithi.

According to a research by Wellwise Solutions that sought to understand the challenges faced by MSMMEs, 35 percent of the challenges are location and infrastructure expenses, 30 percent are equipment and technology costs, while 15 percent are manpower and other working capital expenses.

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