A banking product targetting the clearing and forwarding firms has been unveiled to tap on the fast growing export and import sector. Chase Bank yesterday launched an account dubbed 'Bandari current account' for people working in the clearing and forwarding sector.
The bank's general manager Parmain Ole Narikae said it is targetting the small and micro-enterprises to facilitate the growth of businesses through cheaper lending rates and invoicing discount. Ole Narikae said cargo clearing firms often face many financial challenges.
"Invoicing discount is a product where the service provider can receive payment against an invoice," he said. Mombasa port's growth has been boosted by the opening of the new berth 19 and operations are set to rise.