Started in 2002 by a group of 14 investors, SUMAC grew into one of the best and fastest growing SME lenders in Kenya. They focus on entrepreneurs who have viable business ideas but find it hard to get loans from commercial banks due to the stringent loan requirements. They are clearly meeting a need. Despite the Covid measures the company managed to continue to service their customers and achieved even a net portfolio growth of more than 8% throughout 2020.
“We are focused on empowering agribusinesses in the country so they can acquire better farm machinery, fertilizers and even improve on breed and milk quality for those specializing in dairy farming“, says CEO of SUMAC John Njihia.
SUMAC has shown great resilience during the Covid pandemic by continuing to grow their customer base while maintaining an adequate portfolio quality. SUMAC plans to keep growing the coming years by further diversifying their services and upscaling their marketing and outreach channels, including, but not limited to investing more in digital transformation.
Andrew Kabucho, Investment Manager of Incofin IM comments: “We are proud to have partnered with SUMAC in financing their ambition of transforming small holder agriculture through microfinance. The bank has shown great commitment to the sector by deploying innovative products and distribution channels that empower their end customers.“