MSMEs CREDIT CARD BOOST

Absa and Visa have launched the Absa Business Credit Card, to facilitate access to working capital, flexible repayment options, detailed expense tracking, enhanced security features, and global acceptance for Micro, Small and Medium Enterprises (MSMEs).

Absa Bank Kenya’s Director of Business Banking, Elizabeth Wasunna, emphasized that Absa’s ongoing commitment to MSMEs goes beyond providing financial empowerment. “We endeavour to be a long-term strategic partner in business development and sustainability by offering tailored financial products, capacity building and market access for MSMEs through strategic partnerships,” she added.

John Njoroge, Country Manager of Visa Kenya, acknowledged the daily challenges that SMEs face, including limited access to finance and navigating the ever-evolving digital landscape. However, he noted that it is through innovation, mindset change, and partnerships that these challenges can be transformed into opportunities. 

The Principal Secretary for the State Department for Micro, Small and Medium Enterprises (MSMEs), Susan Mang’eni who was the chief guest at the launch lauded the joint initiative as a powerful collaboration towards unlocking financing for MSMEs in Kenya.  Mang’eni observed “The MSME sector contributes over 40% of the country’s GDP and employs a substantial portion of the population, particularly women and young people. This business credit card supports the bold reforms being undertaken by the Government towards creating a supportive environment for the MSME sector.”

John Njoroge, Country Manager of Visa Kenya, acknowledged the daily challenges that SMEs face, including limited access to finance and navigating the ever-evolving digital landscape. However, he emphasized that it is through innovation, mindset change, and partnerships that these challenges can be transformed into opportunities.