Kenya’s banking sector under Kenya Bankers Association (KBA) are set to hold the second Inua Biashara Summit for micro, small and medium-sized enterprises (MSMEs) from June 22-29.

10 speakers from public and private sectors will engage MSMEs from across Kenya during the week-long virtual Summit as the world marks the International Day of MSMEs on June 27.

The summit is set to kick off with the launch of a novel Blended Finance partnership jointly developed by KBA, Financial Sector Deepening Kenya (FSD-K) and Kenya Climate Innovation Center (KCIC) on Tuesday.

The June 22 event will be followed by a three-day virtual tradeshow that will enable banks to showcase their products and services to customers through digital engagement booths.

The Inua Biashara Virtual Tradeshow is a platform allowing banks to showcase their offering to SMEs in a contactless manner due to the Covid-19 pandemic.

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Anne Mutahi, the SME Advisor to President Uhuru Kenyatta is expected to officially open the Inua Biashara Virtual Trade Show on Thursday.

The event will be a build-up to the Inua Biashara summit set for June 25 and officiated by Eric Wafukho, CAS National Treasury and Planning, Family Bank CEO Rebbecca Mbithi and Dr Habil Olaka, the KBA CEO.

“As an industry that promotes enterprise development, banks are working closely with the National Treasury and the Central Bank of Kenya through the National Credit Guarantee Scheme which seeks to accelerate MSME access to credit during this disruptive pandemic period,” Dr Olaka said.

He added, “We believe MSME recovery and resilience can be catalysed by their ability to borrow from financial intermediaries at affordable interest rates with low collateral requirements, which is why we commend the Government and the participating banks for collaborating to help SMEs rebuild from the health crisis.”

Currently, the credit guarantee banks are Absa Bank, Co-Operative Bank, Credit Bank, DTB, KCB, NCBA and Stanbic Bank.

The Summit’s theme is ‘Celebrating SME Resilience in Turbulent Times.’