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Kenya: Project to Help Traders Affected By Poll Violence
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Business Daily (Nairobi)
30 April 2008
Posted to the web 30 April 2008
Steve Mbogo
A section of small and medium scale business owners who were affected by the post election violence will be trained on how to recover from losses through a partnership between Barclays Bank of Kenya and the World Bank's private lending arm, the International Finance Corporation, IFC.
The Sh1.95 million partnership will involve seminars for business owners in areas adversely affected by the violence. Topics to be covered will include business crisis management, continuity planning and business recovery.
Kariuki Ngari, Barclays' director of retail banking said the programme will initially focus around Eldoret, Nakuru, Kericho and the environs, which were the epicentre of the post-election violence.
He said the seminars will be conducted under the Barclays Business Club, for easy mobilisation of traders.
The club usually holds quarterly seminars on business issues for its members. Mr Ngari said about 30 of Barclays Bank clients and members of the club were adversely affected by the violence but the programme will target at least 2,600 customers.
Barclays has also given a grace period of at least one month to its clients who were affected by the violence, although the grace period will depend on the client's needs.
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Although IFC has been a major supporter of the SME's in Kenya, this is the first time it is supporting businesses against collapse caused by external factors.
Eme Essien, IFC's principal investment officer, said the institution is consulting with other partners organisations, especially the financial institutions to see how their clients who suffered business loses in the first two months of this year can be assisted.
She said assistance to small scale business owners will also be directed through the IFC's SME Solution Centre.
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