Stanbic Bank Kenya has been recognised at the 2024 EMEA Finance African Banking Awards, where its parent group, Standard Bank, received the title of ‘Best Pan-African Bank for SMEs’. The recognition highlights the bank’s sustained efforts in supporting small and medium enterprises (SMEs) across Kenya and the continent.
Focus on Financing and Economic Inclusion
The bank’s SME-focused strategies in 2024 included a strong allocation of resources to business growth. According to data from the financial year ending December 2024, 9% of Stanbic Bank Kenya’s loan book was directed to the agricultural sector. A total of KES 76 billion in trade loans was disbursed to support business expansion.
In addition to financing, the bank facilitated job creation and financial literacy programs. Through the Stanbic Foundation in partnership with the U.S. African Development Foundation (USADF), over 400 jobs were created and more than 8,000 individuals received financial fitness training. The bank also provided KES 63 million in concessionary funding to micro, small, and medium enterprises (MSMEs). Through its D.A.D.A (Dare to Aspire Dare to Achieve) initiative, Stanbic Bank has cumulatively lent KES 37.8 billion to women entrepreneurs.
Florence Wanja, Head of Business and Commercial Banking at Stanbic Bank Kenya, said:
"We understand that SMEs are the backbone of Kenya’s economy, and our goal is to ensure they have the resources, expertise, and financial solutions they need to thrive. By investing in SME-focused solutions, we are not only enabling businesses to scale but also creating employment opportunities and driving economic progress.”
Digital Banking and Tech Integration
Stanbic Bank Kenya has continued to invest in technology to enhance the banking experience for SMEs. These digital investments have expanded the bank’s reach, streamlined access to financial services, and supported growth through online platforms tailored to business needs.
Wanja noted that:
“We recognise that technology is a powerful enabler for SMEs, allowing them to operate more efficiently, manage cash flow effectively, and access financial solutions in real time. Our digital banking solutions are designed to ensure that businesses, regardless of their size, can compete in today’s fast-evolving marketplace.”
New Campaigns and Trade Connectivity
In 2024, the bank launched the ‘Unlock New Horizons’ campaign, aimed at expanding SME access to financing, business advisory services, and digital tools. The campaign continues into 2025 and reflects the bank’s broader goal of supporting growth-focused sectors, with SMEs at the core.
Stanbic also supports cross-border business through its understanding of local dynamics and its integration within Standard Bank Group’s continental network. Its capabilities in Africa-China partnerships and cross-regional trade make it a key player in trade finance.
The bank also supports SMEs through advisory services and market insight tools.
“Beyond financing, Stanbic Bank Kenya offers SMEs critical advisory and networking opportunities,” said Wanja. “Through initiatives such as the Africa Trade Barometer, the bank provides valuable insights into market trends, empowering businesses to make informed decisions. Additionally, the bank actively sponsors key SME-focused events, such as the Changamka Shopping Festival, demonstrating commitment to capacity building and market access.”
Continental Strategy and Broader Services
Stanbic Bank Kenya operates as part of the Standard Bank Group, the largest bank in Africa by assets, present in 20 countries across the continent. The group also has a strategic partnership with the Industrial and Commercial Bank of China (ICBC), which holds a 19.4% stake.
In Kenya, Stanbic serves a wide range of clientele through its divisions—Personal and Private Banking, Wealth Management, Corporate and Investment Banking, Business and Commercial Banking, and Insurance and Asset Management. Its Business and Commercial Banking unit targets high-value small businesses and mid-sized enterprises, delivering tailored products for their evolving needs.
Recognition Amid Economic Uncertainty
The EMEA Finance African Banking Awards recognise institutions that deliver strong performance despite macroeconomic challenges, with a particular focus on innovation in digital services and commitment to development.
This award positions Stanbic Bank Kenya as a key actor in advancing financial inclusion and SME development. Through a combination of financing, training, technology, and trade insights, the bank continues to support entrepreneurs in navigating an increasingly competitive landscape.
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