-This move underscores the commitment to supporting small Businesses in Kenya and driving financial inclusion;
NELSON RAMA-GOLFNEWSLINKS;
I&M Bank has announced that the free Bank to M-PESA and Airtel Money transfers for personal customers will now also be extended to Solo Biz owners (sole proprietorships).
This according to the Bank underscores the commitment to supporting small businesses in Kenya and driving financial inclusion.
The Bank is advising Solo Biz owners to visit any branch or download the I&M Bank App and open an account digitally to start saving money with the free transfers.
The Banks head of personnel and business Shameer Patel commented, “Our new to Bank customers who opened personal accounts last year have benefited tremendously from the ‘Ni Sare Kabisa’ proposition.’’
He said in addition to the free Bank to M-PESA and Airtel Money transfers, individual customers will have access to Unsecured Personal Loans, a newly launched 30 Day loan and up to 12% p.a. interest on savings via the I&M Savers Account.
I&M Bank’s Head of Small Business, Eunice Kinyanjui said “We gathered insights which resulted in us extending the free transfers to Solo Biz owners. With this proposition, Solo Biz owners now have access to digital Unsecured Business Loans, Stock Financing, LPO financing and ‘Lipa na’ I&M Bank Paybill/Till number on our App.”
I&M Bank Kenya CEO, Gul Khan, in a statement, emphasized the significance of supporting small businesses.
He noted that the Bank has been listening to their clients on the high cost of living and their pain with paying fees for Bank to Mobile wallet transfers and decided to make it free.
MSME Alliance Chairperson Ben Muhati commended I&M Bank on the launch of the new proposition and recent branch expansion at Gikomba.
Muhati further pointed out that small business owners are the heartbeat of the economy and contribute to over 80% of the employment in the country.
He noted that small business owners are conscious of each coin they spend as they seek to generate maximum business value for their hustles.
The small business traders, association representatives and I&M Bank staff thereafter proceeded to Gikomba for a customer activation.
ENDS;
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