By John Oyuke

Barclays Bank of Kenya has partnered with Institute of Certified Public Accountants of Kenya (ICPAK) to enable small to medium sized enterprises (SMEs) improve financial management.

Through the alliance, the bank will enhance services to SME customers.

"The partnership will expose SME customers to best practices in finance and accounting," said Mr Nick Mbuvi, Commercial Banking director.

Mbuvi was speaking during the launch of the partnership in Nairobi, on Friday.

The deal would involve joint workshops and seminars for SME customers.

Mbuvi said the partnership is an essential undertaking for Barclays as it recognises that the SME sector is important to the economy, contributing in excess of 20 per cent of the Gross Domestic Product.

The sector, he added, also accounts for 90 per cent of all business enterprises, making SMEs the largest employer.

Mbuvi said since lack of access has been identified as one of the major constraints to SMEs, it was necessary for commercial banks to develop appropriate and accessible financial services to tap emerging opportunities.

He said in addition to expected insights from ICPAK, Barclays Bank will offer SME customers dedicated relationship managers who have deep insights in respective industries, and are able to offer invaluable business support.