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Kenya’s Chase Bank secures Sh5b for SME lending

chase Bank chief Executive Officer Paul Njaga (right) and AfdB regional director Gabriel Negatu signing the sh5b deal ByesterdaBy. [PHOTO: JENIPHER WACHIE/STANDARD]

NAIROBI: Chase Bank has secured a Sh5 billion on-lending facility from African Development Bank (AfDB) to support SME lending.

CEO Paul Njaga said the facility will strengthen the lender’s resolve in breaking funding challenges facing SMEs. “SMEs are the engine of growth. For the sector to grow, barriers to financial access need to be addressed. This partnership will support under-served clients,” he said.

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