NCBA Bank on Monday hosted over 100 small and medium enterprise (SME) customers at a high-level customer engagement dinner in Migori County, underscoring its growing commitment to support SME development in the region.
The forum brought together key players from both the private and public sectors, providing a platform to discuss opportunities, challenges, and collaborative strategies aimed at advancing the SME ecosystem in Migori and surrounding counties.
Speaking at the event, Dennis Njau, NCBA’s Ag. Director of Retail Banking, emphasized the bank’s ongoing efforts to empower SMEs through innovative financial solutions and strategic partnerships. “At NCBA, we have established partnerships with like-minded institutions such as Strathmore University through our Owners Management and Enterprise Development Programs.
These initiatives are designed to equip SME owners with the knowledge and skills to grow and scale their businesses,” he said.
Njau also highlighted NCBA’s collaboration with the African Guarantee Fund and Proparco, which has enabled the bank to offer seamless financing solutions to SME clients, ensuring they have the resources to expand their enterprises sustainably.
The forum was graced by several notable stakeholders including Dr. Betty Mogesi Samburu, CECM for Trade and Tourism in Migori County, and Byron Noel Otieno, Project Field Officer at the Kenya National Chamber of Commerce and Industry (KNCCI), Migori Chapter.
Both officials provided valuable insights into the county’s economic potential and emphasized the need for stronger public-private partnerships to support business growth and youth entrepreneurship.
Migori County’s economic data reveals a region with promising potential. In the 2023/2024 financial year, the county contributed KSh 90.9 billion in Gross Value Added (GVA), accounting for 1.2 percent of Kenya’s total GVA. With an average GVA growth rate of 4.54 percent from 2013 to 2022—outpacing the national average of 4.37 percent —Migori has seen considerable growth, particularly in the services and agriculture sectors, which contribute 49.66 percent and 36.29 percent to GVA, respectively.
However, the county still grapples with development challenges, including a 48 percent poverty rate, a population growth rate of 2.6 percent, and persistent infrastructure and productivity deficits.
Migori Deputy Governor, H.E. Dr. Joseph Mahiri, lauded the forum, stating: “We are pleased to have participated in this important forum hosted by NCBA. We recognize the challenges faced by the Migori business community and are enthusiastic about partnering with private financial institutions to help bridge the financial gap for SMEs in the region and boost economic growth.”
The engagement underscored the importance of collaboration between the public and private sectors in unlocking the full potential of SMEs. It also reaffirmed NCBA’s role as a key enabler of economic inclusion through financial access, knowledge transfer, and enterprise capacity development.
Through such forums, NCBA aims to co-create sustainable financial and developmental solutions with stakeholders that will spur long-term socio-economic growth in counties like Migori and beyond.