Kenya is set to profit if a decision by the Standard Chartered Bank to increase its operations in Kenya materialises.
According to a statement from Statehouse, the government is putting in efforts to sustain an upward trajectory in the economy. However, the decision by Standard Chartered Bank was revealed in a meeting on Tuesday between President Uhuru Kenyatta with Standard Chartered Bank’s Group CEO, Bill Winters, when Withers said that the bank will increase its existence in the republic and grow the sectors in finances.
“We are looking for bright spots in the world and Kenya is one of them,” said Winters, also pointing out that Kenya is on top of the list of the countries the bank targets for spreading out.
On the other hand, President Kenyatta requested the bank to start focusing on Small and Medium Enterprises as well as agriculture, which the bank used to backup initially.
“I urge you to venture again in agriculture since it is the right time as we focus on value addition on agricultural products,” said the president.
President Kenyatta also added that the government wants to put emphasis on agriculture as a driver to tackling the issue of youth employment.