September 24th 2017

Business / News

CBA loop to target budding entrepreneurs

The first event of this series was held on Friday 16th June at the Garden City Loop Store where participants were selected from the 52 Week Savings Challenge Group.  A group on Facebook that has evolved into a platform for entrepreneurs to share ideas, experiences and information.

By Cynthia Gitaucgitau@kenyafreepress.comFriday, 30 Jun 2017 15:53 EAT

Commercial Bank of Africa (CBA) through its new digital service, Loop, is set to target budding entrepreneurs through a series of events dubbed PASSIONENT.

The first event of this series was held on Friday 16th June at the Garden City Loop Store where participants were selected from the 52 Week Savings Challenge Group.  A group on Facebook that has evolved into a platform for entrepreneurs to share ideas, experiences and information.

Speaking during the event, CBA GM, New Business, Eric Muriuki said, "The PASSIONENT series of events is intended to be a platform to facilitate interaction and networking of like-minded individuals who have been brought together as a group for a common purpose. During these events, we will provide support through information and advice on a range of relevant topics and essentially walk them through their entrepreneurial journey by offering the financial tools to help achieve their ultimate goals".

The event which attracted about 100 participants, featured interactive sessions where customers benefited from expert financial advice from professionals as well as inspiring true life stories from real people who have managed to grow a business idea into a fully-fledged enterprise. Other sessions will be held quarterly and will be open to groups of individuals who are looking to grow their passions.

Following the completion of the first PASSIONENT event, 30 individuals will be sponsored by CBA to undergo the 12 week Centonomy 101 course on financial management. Coupled with the knowledge acquired from PASSIONENT, through the CBA Loop service they will be equipped with the financial tools at their fingertips to support the growth of their business.

CBA Loop is a digital financial service that offers a full range of banking products. Customers register for the service digitally through the app or website and have access to simple and robust payments including bills and standing orders. Its Personal Financial Management feature enables customers track, plan and analyse their income against their expenditure on a regular basis, with the analysis graphically presented. Other relevant features offered are, Loop Goals, Budgeting and Loop Investment.

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