The Bank has announced the free bank to M-PESA and Airtel Money transfers for personal customers will now also be extended to Solo Biz owners (sole proprietorships). This underscores I&M Bank’s commitment to supporting small businesses in Kenya and driving financial inclusion. Solo Biz owners can visit any branch or download the I&M Bank App and open an account digitally and start saving money with the free transfers.
Shameer Patel, Head of Personal & Business Banking speaking during the event at a Nairobi hotel commented, “Our new to bank customers who opened personal accounts last year have benefited tremendously from the Ni Sare Kabisa proposition. In addition to the free bank to M-PESA and Airtel Money transfers, individual customers will have access to Unsecured Personal Loans, a newly launched 30 Day loan and up to 12% p.a. interest on savings via the I&M Savers Account. All these propositions are available digitally via the I&M Bank App.”
I&M Bank Kenya CEO, Gul Khan, in a statement, emphasized the significance of supporting small businesses. "Early Last year, we listened to our personal customers on the high cost of living and their pain with paying fees for Bank to Mobile Wallet transfers and decided to make it free. We have now decided to significantly increase our support for Solo Biz owners and extend the same proposition to them. Small businesses in Kenya play a huge role in driving economic growth with their 40% contribution to GDP. As we celebrate 50 years of I&M Bank in Kenya, Solo Biz owners can now reduce their expenses and invest more into growing their business with the ‘Ni Sare Kabisa’ proposition." stated Mr. Khan.
The financial giant is targeting small business owners who are the heartbeat of the economy and contribute to over 80% of the employment in the country.
