Nyamira County has entered into a financial partnership with Kenya Commercial Bank (KCB), securing Sh130 million to help women and young people launch and grow their businesses. The agreement, formalised under the leadership of Governor Amos Nyaribo, aims to provide startup capital at subsidised interest rates for micro, small, and medium enterprises (MSMEs).
Speaking at the signing ceremony, Governor Nyaribo praised the longstanding relationship between the county government and the bank, highlighting how their collaboration over the years has brought substantial benefits.
“The first year of disbursement we have agreed that the county will contribute Ksh.15 million and the bank will give us 15 million and the investment capital will be increased for access gradually depending on how much the county will progressively invest annually to boost business startup with loans at very minimal interest rates,” said Governor Nyaribo.
He added that youth who receive training at the county’s recently completed ICT labs will be prioritised for funding, giving them the opportunity to establish or expand youth-owned businesses in the region.
Ms. Anastacia Kimtai, Managing Director, Kenya at KCB, acknowledged the Governor’s dedication to community welfare and said the partnership is focused on supporting the most vulnerable groups within Nyamira County.
“We appreciate the long-standing relationship and the partnerships we have signed to collaborate in matters business to improve people’s livelihoods in Nyamira County. The bank through KCB foundation sets aside 1.5% everywhere where we are located in the entire country to undertake Corporate Social Responsibility (CSR),” said Ms. Kimtai.
She also noted the bank’s commitment to education in the county, saying, “KCB has managed to support 125 high school students from very vulnerable background and support them all the way to university,” and confirmed that “they are already supporting 13 students enrolled in various universities in the country and have worked closely with learning institutions in Nyamira to plant 3000 trees to maintain the county’s greenery.”
Kimtai stressed the bank’s readiness to contribute to the transformation of Nyamira, especially in helping women and youth succeed in business. “KCB is more than ready to walk with you to transform the lives of Nyamira residents especially women and youth in business. Women are very assertive in businesses and have got genuine support and goodwill from their spouses to advance in business.”
She highlighted the bank’s efforts to increase women’s access to finance, stating, “The spirit of hard work has endeared KCB to set aside 250 billion shillings to support the women’s access credit. Nyamira branch has managed to disburse Sh150 million to support the women in business.”
According to Kimtai, empowering women leads to wider social benefits. “I believe that when a woman is supported the entire community has also been supported,” she said. “When women are supported in leadership unity is created and family ties solidified.”
She encouraged men to back their partners’ business ambitions, describing them as future leaders. Kimtai also emphasised the importance of financial literacy for business success.
“Capacity building and training the youth and women to ensure they know what the profit margins to be able cushion them from consuming the working capital is our business since we want these businesses to grow from the macros, SME and tomorrow they become the corporations of this county,” she said.
Ms. Kimtai concluded by commending Nyamira’s leadership for its strong backing of business development, saying, “KCB is the bank of Kenya for Kenyans,” and reaffirmed the bank’s commitment to strengthening ties that will improve lives and support local entrepreneurs.
