KCB Group awarded for its SME, sustainable initiatives
KCB Group has been named the Best Bank in SME and Sustainable Finance, an award that underscores its continued efforts to support the Kenya’s Small and Micro Entreprises’ sector and embed sustainable finance practices in its lending decisions.
The twin awards by Finance Derivative recognize the regional bank’s role in promoting entrepreneurship through access to affordable credit, business advisory services, and other resources needed to grow and expand while prioritizing sustainability in its operations.
“We remain committed to supporting SMEs, promoting sustainability, and making a difference in the lives of the people we serve,” said Group CEO Paul Russo.
In October last year, the bank rolled out a Female-Led and Made Enterprise (FLME) program which seeks to disburse Kes250 billion in five years towards unique market segments for businesses owned or run by women. In addition, the bank has integrated sustainability into its operations by adopting 14 Sustainable Development Goals (SDGs), which guide its efforts to develop products and services that support sustainable development.
The CEO of Finance Derivative Mehtab Chisti said, “sustainable growth and development of SMEs is essential for a thriving economy and institutions need to develop sustainable finance to steer innovative mechanisms that create a better future for generations to come. We recognize the efforts of financial institutions like KCB which is setting the pace for other banks across the East African region in supporting SMEs.”