SBM Bank Kenya and DHL Join Forces to Empower Kenyan SMEs

Nairobi, Thursday 1st August 2024: SBM Bank Kenya and DHL Worldwide Express Kenya have today announced a strategic partnership aimed at boosting trade and enabling small and medium-sized enterprises (SMEs) to access global markets.

The collaboration, dubbed ‘Power Up Your Potential’, will consolidate SBM Bank Kenya's extensive financial network and DHL's global logistics expertise to empower over 400 SMEs navigate the complexities of exports and e-commerce, thereby expanding their market reach and operational capabilities.

In Kenya, SMEs face a myriad of obstacles while attempting to access international markets. A recent study shows that only 20% of SMEs in Kenya participate in export ventures, due to insufficient market information, regulatory hurdles, and restricted access to logistics networks. Additionally, with the swift expansion of e-commerce, numerous SMEs find it challenging to adapt to evolving trends and consumer behavior.

In a statement regarding the partnership, Mr. Bhartesh Shah, CEO of SBM Bank Kenya, remarked, “This collaboration with DHL is closely aligned with our mission to empower SMEs, which are essential to our economy. By offering SMEs valuable insights and practical training in exports and e-commerce, we are creating new opportunities for their growth and success. This partnership emphasizes our dedication to promoting economic development and sustainability in Kenya.”

The training program will offer SMEs critical insights into e-commerce, emerging trends, top e-commerce markets, key trends in consumer behavior, unique propositions, network capabilities in Africa, and account management. Post-training, DHL will assist SMEs in marketing their products and identifying suitable platforms for export, providing a comprehensive support system to facilitate successful entry into international markets.

Paul Makolosi, Managing Director, DHL Express Kenya stated, “In the aftermath of the coronavirus pandemic, we have observed significant changes in the methods businesses use to connect with their customers and address their needs. It is essential for SMEs to acknowledge the power and importance of global e-commerce, as emerging buying habits and behaviors are driving growth in an already rapidly expanding marketplace. For SMEs to navigate the current economic challenges successfully, it is crucial to adopt bold strategies, which should include a comprehensive e-commerce plan with a strong focus on cross-border transactions.”

In a similar drive, SBM Bank Kenya had previously partnered with the African Guarantee Fund in a risk-sharing deal to increase access to credit for women-led businesses through the AGF's Affirmative Finance Action for Women in Africa (AFAWA) and Guarantee for Growth (G4G) program. Additionally, SBM Bank offers other capacity-building programs targeting women in the SME space, including partnerships with AWEP, WICCI, and Tactive Consulting, and hosts an annual pop-up market to expand market access for SMEs.

About SBM Bank (Kenya) Limited: SBM Bank Kenya is a leading and trusted financial institution with an international footprint, headquartered in Mauritius and positioned to offer an unprecedented banking experience in Kenya to Retail, SME and Corporate clients.

Following approval by the Central Bank of Kenya, the bank started its operations in Kenya in May 2017 and currently has a branch network of 39 branches countrywide complemented by ATMs, mobile banking, online banking, extensive agency banking services and an available contact centre to match our client base of over 100,000.

Additionally, SBM Bank Kenya operates as an Authorised Depository and as an Authorised Securities Dealer following a license issuance by the Capital Markets Authority. SBM Bank Kenya is regulated by the Central Bank of Kenya.