Absa Kenya to Support SMEs

Absa Bank Kenya PLC today unleashed various products and services set to benefit the small and medium-sized enterprises (SMEs) segment.

According to the Absa Kenya Plc Managing Director Jeremy Awori, the bank will issue unsecured loans of up to KSh 10 million and LPO financing and upto KSh 50 million of invoice discounting.

The bank will be launching an online platform to enable small businesses to perform vital functions like online planning and cash flow management.

The announcements took place today at Nairobi bourse as the Barclays Bank of Kenya changed its ticker symbol from BBK to Absa.

The bank has plans to roll out various exciting propositions soon under the Absa brand as it also upgraded some of its technology infrastructures.

Absa clients will be able to pay bills, transact, and buy airtime, using the new banks’ application accessible via fingerprint or facial recognition.

Absa clients currently enjoy the lowest rates in the market at 11.75%; a waiver will be given for legal fees when transferring mortgages. Also, the bank will be offering 100% financing for mortgages.