Family Bank and Wylde International have announced an exciting new partnership that will provide support for Small and Medium Enterprises (SMEs) in Kenya. The two organizations are collaborating to develop the SME ecosystem by offering capacity-building training in various critical areas such as digital marketing, business strategy, planning, legal and compliance issues, sales, and governance. The initiative is crucial to the success of SMEs, which make up 80% of Family Bank’s customer base and contribute 40% of Kenya’s GDP.
Family Bank recognizes the need to empower SMEs with the technical skills they need to thrive in today’s business world. The partnership will ensure that SMEs not only receive financial support but also gain knowledge and skills necessary for overall growth. Additionally, the partnership aims to address the challenges that hamper the growth of many SMEs and offer value by scaling up their businesses.
With 44 million Micro, Small and Medium Enterprises in Sub-Saharan Africa and an estimated 80% of jobs provided by these enterprises, this partnership is a significant boost to SMEs in Kenya. The collaboration between Family Bank and Wylde International is a positive step towards building strong and resilient SMEs, which are vital to the Kenyan economy.
Kiriinya Kithinji, the Director of Wylde International, emphasized that SMEs are an ecosystem, and the partnership aims to provide value by addressing the pain points that hinder their growth. The collaboration is an excellent initiative towards creating a conducive environment for SMEs’ growth and development in Kenya.