[2008-08-19]  StanChart guns for promising SME industry
Standard Chartered Bank is targeting small and medium enterprises as it seeks to broaden its niche oriented business model.

Stanchart is in the process of breaking SMEs by sector of operation such as manufacturing, commerce, telecommunications, horticulture, floriculture, education, and transport.

After the pooling, the bank will seek to tailor products that suit specific needs of each cluster.

“Segmentation helps us understand the SMEs better and what we want to do for each segment,” said Stanchart SME banking general manager, Mr Ben Mkalama.

The sector is considered the mainstay of Kenya’s economy, employing about 74.2 per cent of the workforce and contributing about 18.4 per cent of the country’s wealth measured in terms of Gross Domestic Product (GDP).
Source: Bdafrica