Jamii Bora Bank will give women and youth businesses unsecured loans of up to Sh3 million in a bid to support economic growth. The bank said yesterday that it has set aside over Sh4 billion for women and youth-run businesses which it shall disburse from August to the end of the year.
The lender plans to dedicate half of its lending to the SME sector, in what it says is a plan to nurture and build the country’s enterpreneurship spirit. The bank also plans to set up a business incubation centre that will build the capacity for owners of startup businesses.
“We are a growing enterprise ourselves and so we understand the challenges that our young enterprises face,” said the bank’s chief commercial officer, Timothy Kabiru.