Kenyan traders challenged to embrace innovation for presence in Africa

By Peter Ochieng

Kenyan traders have been challenged to be innovative and embrace technological advancements, in order to have their presence felt across the African continent.

Speaking in Kisumu on Friday on the sidelines of Absa Bank Kenya’s Business Club Forum with 200 traders, Erastus Muthura, the financial institution’s Head of Small and Medium Enterprises (SMEs) said with a population of over 1 billion people, the African continent is a ready market yet to be fully exploited.

“We are encouraging them to be more innovative, to go beyond the borders and ride on the wings of Absa Bank by creating stories,” he said.

The Bank, Muthura said, is present in 12 African Countries, urging the Kenyan business community to ensure that they have a representation in places the Bank operates.

“In Absa, we believe in creating stories and we talk about our purpose being about empowering Africa’s tomorrow together one story at a time. And every story matters.”

A registration process, Muthura added, is currently ongoing with a view of taking 50 traders on a business trip to Zambia in the course of this month, so as to scout for business opportunities.

They are collaborating with Trademark Africa and the Kenya National Chamber of Commerce and Industry (KNCCI), to make the trip a reality.

He highlighted the Bank’s commitment to supporting SMEs, especially those managed by women, youth and Persons with Disabilities (PWDs).

“At Absa, we believe that every story is unique and therefore support our clients with financial and non-financial skills to scale their businesses. As a Bank, we provide access to sustainable finance, information, markets and coaching and mentorship,” he stated.

His sentiments were backed by KNCCI Kisumu Chapter Chairman, Israel Agina, who lauded the Bank for supporting SMEs.

“SMEs play an important role in our communities and are important for the sustenance of our supply chains. We are grateful to Absa for their support today as we discuss issues of resilience and for supporting SMEs during the tough economic times.”

Asif Bux who owns a hardware store in Yala, Siaya County gave the Bank a thumbs-up for holding his hand for the last 10 years.

“We are currently being supported by Absa Bank to build a shopping mall. We are very happy and encouraging the other SMEs to come and join so that their businesses can be supported,” he added.

The Kisumu forum concluded the week’s activities across the region with other engagements held in Bungoma, Busia, Kericho, Kisii, Migori, and Homabay.

Absa Bank has hosted similar forums in Nakuru, Mombasa and Nyeri Counties, and is set to hold similar business forums in the Rift Valley region, in the coming week.