The business community at Bumala market in Busia County have welcomed the move by Equity Bank to open a branch at the busy market centre, as part of its growth strategy and expansion of market circle.
The branch which now becomes the 4th in the county intends to bring financial services closer to the people as it targets to address financial literacy and saving culture among the traders.
Speaking during the launch, Equity bank business developer manager Joseph Mwangi applauded the community for its warm reception, noting that the institution will play a pivotal role in all banking services ranging from, saving, loans, insurance, investment and finance related advice to business people.
‘We are an ambitious bank with the heart of our customers at the centre of our operation. We understand why bringing financial services closer to people is very critical for the growth and development of any business centre,’ Mwangi noted.
He added that due to cross border trade it was prudent to open more branches in Busi
a to serve both Kenyans and other clients from neighboring countries of Uganda, Rwanda and beyond with the county acting as gateway to over 3500 tracks on a daily basis.
‘As a financial institution, we are glad to partner with the county government of Busia and more so traders in eradicating poverty at the grassroots in effort to create a more self-reliant society at the border,’ he added.
The sentiments were echoed by Butula MP Joseph Maero Oyula who acknowledged the bank for saving hundreds of residents who had to track over 20 kilometers to get services at the adjacent towns of Busia, Bunyala and Mumias.
‘I want to challenge my people of Butula to embrace this financial institution as a way of flexing financial muscles either through loans or saving. This is the first and the only financial institution here at Bumala and its presence will stir-up the development of this town into a municipality,’ Oyula noted.
Marachi Central MCA Simon Maina Kuria regretted that the town has been marginalized for years’
despite being the center that links 4 major countries that is Siaya, Kisumu, Kakamega, Bungoma and Busia counties, and the opening of financial institution will bolster the economic growth of the town.
‘I urge the bank to provide financial lessons to our people to help them save the little they get from farming of centrals and fish trade among other activities,’ said Kuria.
Source: Kenya News Agency