NAIROBI, Kenya– Absa Bank, in partnership with Visa, has rolled out a new credit card tailored for Micro, Small, and Medium Enterprises (MSMEs), aiming to boost financial efficiency and streamline operational costs for Kenyan businesses.
The newly launched card is crafted to help businesses better manage their expenditure and cash flow by offering flexible, interest-free repayment windows ranging from 20 to 50 days.
This tool is expected to play a crucial role in easing short-term financing challenges and providing instant working capital access.
Absa and Visa highlighted that the card also comes loaded with advanced digital features.
These include round-the-clock global emergency support and a collection of resources to aid daily business operations.
Cardholders will benefit from sophisticated card control options, interactive financial dashboards, and exclusive offers from over 40 global business platforms, including Google Workspace, Shopify, and DocuSign all designed to enhance digital adoption among SMEs.
“As our business customers’ requirements and aspirations evolve, so have our offerings,” said Wasunna-Ochwa.
“In partnership with Visa, we are thrilled to launch the new Absa Business Credit Card designed specifically for our Business and Corporate customers. This card promises a distinguished and rewarding experience that caters to their unique business needs.”
Echoing her remarks, John Njoroge, Visa Kenya’s Country Manager, stressed the importance of inclusive and tech-forward financial tools in driving business sustainability.
“We believe this solution will enhance MSMEs’ ability to manage expenses, access working capital, and grow sustainably in today’s digital economy,” he said.
Susan Mang’eni, Principal Secretary at the State Department for MSME Development, welcomed the product as a vital development in strengthening the financial backbone of the sector.
“The Absa Business Credit Card is not just monumental; it signals that the financial sector is ready to meet the growing needs of MSMEs,” she remarked.
“It will unlock affordable and flexible financing, empowering MSMEs to compete on the global stage.”
Beyond easing access to credit, the card accommodates a variety of business-related expenditures, such as travel, office operations, fleet services, supplier transactions, and digital software purchases, making it particularly advantageous for traders, startups, and tech-savvy entrepreneurs.
The card marks a step forward in the banking sector’s efforts to address the dynamic needs of MSMEs and help them scale more efficiently in an increasingly digital economy.
