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DTB commits KSh1.6 billion in Covid-19 recovery loans for SMEs

Diamond Trust Bank (DTB) will advance at least KSh1.6 billion to Micro, Small and Medium Enterprises (MSMEs) this year to aid in Covid-19 recovery, the Bank’s leadership has announced.

DTB Board Chairman Linus Gitahi said the Bank would place particular emphasis on MSMEs that are led by women.

He spoke at a breakfast hosted by the Bank to celebrate its Women owned and managed – MSME customers at Nairobi’s Artcaffe, on 14 Riverside.

Gitahi said the National Treasury selected DTB as one of the participating banks to provide access to financing for Kenyan MSMEs under the Credit Guarantee Scheme.

On his part, DTB Head of Branches and Alternate Channels George Otiende noted that DTB is expected to advance the bulk of the funding, KSh1.2 billion, by June this year.

“Of the KSh1.6 billion that was allocated to DTB, 30% should go to women, youth and persons living with disability. We’re calling upon registered businesses across all sectors, for any financing needs including working capital, term loans or asset financing to take advantage of the facility,” said Otiende. 

DTB held the meeting as part of its efforts to deepen financial literacy and business acumen among its women-led MSME customers.

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