Kiambu County Government has partnered with Kenya Commercial Bank to launch a KShs. 1.3 billion revolving fund that seeks to unlock the business potential of Micro, Small, Medium Enterprises (MSMEs) in the county.
Ukheshe has partnered with the Kenya-based lender KCB Bank Kenya to issue both physical and virtual banking cards across East Africa.
According to Victor Ndlovu, VP of Ukheshe Africa, the deal will include other innovative digital products such as QR issuing and acquiring.
“By joining forces with KCB we are well-placed to address several open-loop market opportunities while boosting wider consumer adoption. Payment options across various segments will benefit such as payroll, companion cards, multi-currency prepaid cards, travel cards and gift cards, together with social security and other government benefit programs such as insurance claims.”
Ndlovu says financial inclusion remains a massive challenge in the region and across the continent where millions of people are either unbanked or severely underserved.