Guaranty Trust Bank (GT Bank), cross-listed on the Lagos, London, and Frankfurt stock exchanges, has reaffirmed its commitment to Kenya with the launch of GT Mazao, a loan product designed for Micro, Small, and Medium Enterprises (MSMEs). The product aims to bridge the credit gap that has hindered businesses from expanding locally and internationally.
Jubril Adeniji, Managing Director of GT Bank Kenya and East Africa, announced the product, highlighting the bank’s loan book growth from KES 6.5 billion in its first year of operation to KES 10.3 billion today. He noted the vital role of Kenya’s 7.4 million MSMEs, which contribute over 40 percent to the GDP.
“GT Mazao responds to client feedback, providing credit to acquire raw materials and produce high-demand goods for local and export markets,” said Mr. Adeniji.
The product prioritises businesses committed to environmental and social responsibility, aligning with GT Bank’s sustainability goals. The Kenya Bankers Association (KBA) welcomed the initiative, calling it a step towards stronger bank-client relationships and a solution to declining savings rates.
With operations in over 10 countries, including Kenya, Uganda, and the UK, GT Bank’s introduction of GT Mazao underscores its role in supporting business growth and promoting sustainability in Kenya’s economy.
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