Citibank N.A Kenya to support women-led SME’s through US$2.7m loan facility

KENYA – Citibank N.A Kenya has established a Supply Chain Finance Programme in support of women-owned businesses In Kenya. The bank’s Chief Executive Officer, and East Africa Cluster Head, Martin Mugambi made the remarks during the institution’s Women in Leadership and Business Conference. “We have programs of supporting women-owned businesses, in particular, Small and Medium Enterprises (SMEs). We have the Citi Supply Chain Finance Programme which provides financing to the value chain of our multi-national clients,” said Mugambi. Under the program, the institution provides the women-owned businesses with working capital…

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IFC partners Citi to create US$800M facility to boost trade finance in emerging markets

GLOBAL —IFC, a member of the World Bank Group, and Citi Bank have established an US$800 million facility to facilitate trade finance in emerging markets. The historic facility by IFC and Citi will also help in supporting trade flows in developing countries and assist businesses to cope with the devastation caused by the Coronavirus (COVID-19) pandemic. IFC said in a statement that the facility with Citi will help to support the flow of critical commodities in countries where businesses face financing challenges and the disruption of cash flows due to…

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Jane Fraser appointed as Citi Bank’s first female president

UNITED STATES- American multinational investment bank and financial services corporation Citigroup Inc has promoted Jane Fraser to the position of President and head head of its global consumer bank. Her appointment strategically puts her in a position to become the first female chief executive of the U.S. bank. The Bank said in a statement that Fraser is replacing Stephen Bird as head of the consumer business, adding that Bird is leaving Citi after more than 20 years to pursue an external opportunity. Reuters reported that promoting someone into a president…

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