President Uhuru Kenyatta has asked Banks to lend to youth and ensure their business grow.
Uhuru told Banks that their business cannot thrive if SME’s close.
He was speaking at Safaripark Hotel during the launch of Stawi Credit.
Stawi Credit is a mobile loan product started by several Banks to help SME’s.
“Don’t say its High risk. If the business of the young people close, if the people the SMEs have employed fail, you who sit on the 24th floor of your office, where will go, how will you pass and go home, where will you go through. Lend to the young men and women. Let’s be positively engaged to secure our business,” he said.
The event was organized by the Central Bank of Kenya.
Uhuru said Stawi Credit is aimed at “removing strains” to growth of SME’s in the Country.
He asked the Banks to support SME’s because they support a huge population.
The President said Banks should target to reach each of the 7 million SME, s in the Country.
He told Banks that they should ensure SME’s are part of their success.
“If things are bad, you will look for flights and they will not be there. Its common sense. Let’s not beg you,” he said.
He added that Bank executives should not just wait for government Bonds, then go play golf.
“You will find people grazing on the Golf course and you will do nothing about it. Don’t sit in your Ivory Towers and be comfortable,” he warned.