KCB Sahl Bank opens new branch in Eastleigh, boosting support for SMEs

KCB Sahl Bank marked a significant milestone on Thursday with the inauguration of its 207th branch at the Business Bay Square (BBS) Mall in Eastleigh.

The opening of the KCB Sahl branch is expected to boost not only Islamic banking services but also the area's commercial activity and provide much-needed assistance to local businesses, particularly SMEs.

The opening ceremony was graced by Kamukunji Member of Parliament Yusuf Hassan, alongside key bank officials including Hemed Wangalwa, Head of KCB Sahal Bank; Jane Isiaho, Director of Retail; and John Okulo, Head of Corporate Banking. Also in attendance were members of the Sharia board led by Chairman Ibrahim Lithome, Eastleigh North Member of County Assembly Ahmedkadar Dabar, and Mohamed Adan, CEO of the Eastleigh Business District Association.

Yusuf underscored the importance of the new branch in fostering local business growth. "We look to KCB Sahl to play a pivotal role in supporting small and medium enterprises during these challenging times," he said.

He emphasised the branch’s potential to enhance the business ecosystem in Eastleigh, a hub for entrepreneurial activity.

KCB Sahl Bank at Business Bay Square Mall officially opened on Thursday, August 15, 2024. Photo: Ahmed Shafat

KCB Group CEO Paul Russo, in a statement, highlighted the bank’s commitment to ethical, inclusive, and Sharia-compliant financial services. "The opening of this branch is not just about expanding our footprint but reaffirming our dedication to serving our community with integrity and inclusivity," he said.

Head of Corporate Banking, John Okulo praised Eastleigh’s business environment, describing it as a crucial yet underappreciated part of Nairobi's economic landscape. He noted that the new branch aims to leverage Eastleigh's entrepreneurial spirit to foster further business growth.

He emphasised that Sahal banking services are not limited to the Muslim community but are available to anyone interested regardless of their faith.

"Sharia banking is not just for Muslims, everybody can benefit from it," he stated. Okulo further stated that the bank now has Sh7 billion available to assist its customers, particularly during these difficult economic circumstances in the country.

Sheikh Ibrahim Lithome, Chairman of the Sharia board, expressed his satisfaction with KCB's choice to expand in Eastleigh.

He pointed out that KCB has a significant presence in other countries, such as Tanzania and Burundi, and that the opening of the new branch was a momentous occasion for the board.

"It is so significant for us because this is not just any other part of Nairobi, it is Eastleigh, and you know this is a hub," he noted.

Eastleigh is a vital commercial centre in Nairobi, hosting over 16 commercial banks, some of which have multiple branches. This new branch is also the second KCB Sahl branch in the bustling Eastleigh area.