NCBA Bank is actively demonstrating its commitment to establishing small, medium, and micro-business enterprises (SMEs) through its recent SME Initiative Drive in Eldoret, a program designed to meet and support its SME clients across the region.
In July, while visiting the businesses like Neo Foods, NCBA demonstrated how it is in close communication with its clients, providing creative financial solutions to foster their growth and success.
Neo Foods is a bread company of which Director Japheth Kipsang is in director, and it is a remarkable example of NCBA backing. With the company employing 30 people in both production in sales.
Neo Foods bakes over 6,000 loaves every day, thus, impacting thousands of households and motivating others in the same industry to take the same path.
“Every household is consuming one loaf every day,” Kipsang shared, highlighting the company’s reach.
Kipsang explained his journey with NCBA in 2019. According to him, sales surged, Neo Foods sought funding to purchase a truck to expand operations.
NCBA stepped in, providing timely financing that enabled the acquisition. “The first one was the funding of the truck,” Kipsang noted, underscoring the bank’s role in addressing critical business needs.
Beyond financing, NCBA offers a diverse range of Business Banking solutions tailored to SMEs. Neo Foods leverages NCBA’s digital platforms, including NCBA Now and NCBA Connect, for seamless transactions. “All our M-Pesa transactions go directly to NCBA. With NCBA Connect, I’m able to go online, generate my own statements, and reconcile accounts.” Kipsang explained
These tools streamline financial operations, allowing businesses to focus on growth. NCBA’s mobile banking services further enhance efficiency, enabling Neo Foods to manage payments for materials effortlessly.
Kimaiyo Kiprop, NCBA’s Eldoret Branch Manager, emphasized the bank’s dedication to SMEs “We always say we go for it, ensuring our SME customers are funded.”
For startups lacking collateral, NCBA provides secured lending options, ensuring accessibility to capital for businesses at various stages. This flexible approach underscores NCBA’s mission to empower entrepreneurs, fostering economic growth and job creation.
Through its SME Initiative Drive, testimonials like Neo Foods’ is showcasing real stories of impact. By offering financing, digital banking, and tailored support, NCBA continues to walk the journey with its customers, helping SMEs thrive and contribute to their communities.