From large banks to small ones, unique products are being developed to woo Small and Medium-sized Enterprises (SMEs). Though many banks are still uneasy to commit their money to SMEs, some progress is being made. With most banks having posted a drop in their net profits in six months to June 2017 and a dip interest income, they are cautiously beginning to warm up to a sector they had left at the mercy of Shylocks and microfinances.

Since SMEs don’t usually have the fixed assets that banks require as collateral with Financial Sector Deepening noting in its latest report,  that it is hard for small businesses to get financed. “SMEs are the key to unlocking Kenya’s economic growth but without finance, they’re languishing. Stuck in the grey area between the formal and informal sector, SMEs are perceived as risky,” noted the report.