I&M Bank has expanded its initiative of offering free M-Pesa and Airtel Money transfers to sole business owners, aiming to bolster small businesses and promote financial inclusivity. This extension builds upon a similar provision introduced last year for personal account holders, demonstrating the bank’s commitment to supporting a wide range of customers. Shameer Patel, Head of Personal & Business Banking at I&M Bank, underlined the institution’s dedication to fostering small enterprises by providing not only free bank transfers but also access to Unsecured Personal Loans and competitive interest rates on savings through the I&M Savers Account.
Gul Khan, CEO of I&M Bank Kenya, emphasized the pivotal role small businesses play in driving economic growth, citing their significant contribution to employment in the country. Ben Muhati, Chairperson of the MSME Alliance, echoed this sentiment, praising initiatives tailored to support small-scale entrepreneurs who diligently manage their finances to maximize business value. Stakeholders lauded I&M Bank’s decision to waive business registration search fees as a positive step forward, anticipating its beneficial impact on the entrepreneurial landscape. With these measures, I&M Bank aims to empower small business owners by facilitating their financial transactions and providing access to essential financial services, thereby contributing to their growth and success.
