Fri. Nov 8th, 2024

SBM Bank Kenya and DHL Join Forces to Empower Kenyan SMEs

DHL Express Kenya MD Paul Makolosi (left) and SBM Bank Kenya CEO Bhartesh Shah (right) pose after signing a strategic partnership MOU to support SME growth in international export trade.PHOTO:IAN BYRON/KTMN

Nairobi.

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 SBM Bank Kenya and DHL Express Kenya teams celebrate the signing of an MOU to support SMEs in export trade. L-R: Edna Kerubo (Country Commercial Officer), Paul Makolosi (MD, DHL Express Kenya), Bhartesh Shah (CEO), and Eric Wambua (Director, Corporate Assets, SBM Bank Kenya).PHOTO:IAN BYRON/KTMN

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 risksharing 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.

By IAN BYRON

Managing Editor, Writer and Public Relations Consultant. A highly professional and talented multimedia journalist with solid experience in creating compelling news as well as distributing and delivering through multiple digital platforms to a global audience.

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