Equity Bank targets global markets for Narok SMEs through value addition
Moses-Nyabanda-Equity-Bank-MD-addresses-delegates-investors-and-members-of-Narok-County-Assembly-at-a-dinner.
Equity Bank is stepping up efforts to connect Kenyan small and medium-sized enterprises (SMEs) to global markets by shifting its lending focus from primary production to value addition and market access.
The bank says it wants to help grassroots businesses move beyond selling raw materials and become competitive players in global supply chains.
The strategy was discussed during a business dinner involving Equity Bank executives, the Narok County Government and members of the local business community.
Narok, traditionally known for tourism around the Maasai Mara National Reserve and rain-fed wheat farming, is undergoing rapid commercial expansion, with livestock, trade and tourism emerging as key drivers of the local economy.
Equity pushes smart agriculture and market links
Equity Bank Managing Director Moses Nyabanda said farmers needed to embrace smart agriculture while focusing on markets for their products.
“We are seeing farmers adopting smart agriculture, moving away from how our forefathers farmed,” Nyabanda said.
“But we do not just want to increase yields; we want to connect you to the market. If you are a livestock farmer, we want to see how we can link you to markets that buy processed leather for designer bags, rather than selling raw hides for a fraction of the price.”
Nyabanda also pledged to align agricultural loan disbursements with local crop cycles, saying farmers would receive agricultural credit within two weeks to avoid missing planting seasons.
Bank expands financing for local businesses
Equity Bank Commercial Director Kagiso Moloi said Narok had become an important market for the lender due to growth in livestock, trade and tourism.
“Narok is not a small market to us,” Moloi said. “Livestock business is growing, trade is growing, and tourism is growing. People in Nairobi may not realize how fast this region is expanding. Our job is to fund that growth and move money quickly and safely.”
The bank is also using asset finance and unsecured credit to support businesses seeking to expand their operations.
Equity Bank Kenya Head of Retail and Branch Business Carol Rutto said customers seeking tractors and commercial trucks could access financing of up to 105 per cent, while unsecured loans of up to Sh10 million were available without collateral.
Flexible lending opens doors for farmers
The shift towards flexible financing has helped some farmers overcome long-standing barriers to accessing credit.
Veteran farmer Okipira Ole Tutai, who began his agribusiness journey in 1985, recalled that state-backed financiers required title deeds, making borrowing difficult for young farmers operating on communally held land.
“From 1985 to 1994, I had never received a loan anywhere. With state financiers, you had to have a title deed, which we didn’t have as young men. There was simply no way to access credit,” Tutai said.
He said flexible, cash-flow-based lending later enabled farmers to expand their businesses and acquire tractors and commercial property.
Narok County Executive Committee Member for Finance David Ole Muntet also urged banks to adopt more humane approaches when dealing with loan defaulters.
“Borrowing is a wedding, but paying back can feel like a funeral,” Muntet said, calling for alternatives to immediate property auctions where borrowers face difficulties.
