I&M Bank opens new branch in Diani

Left to right: I&M Bank Kenya CEO Gul Khan and Kioko Musyoki, South Coast Region Chairman of the Association of Hotelkeepers and Caterers./COURTESY

I&M Bank has opened a new branch in Diani, Kwale County.

The Diani branch, the bank’s 52nd branch (8th in the coast region), was opened on Thursday.

Speaking during the launch, I&M Bank’s Regional Business Manager Coast Dr. James Ng’ang’a said the Diani branch will help tap into the Blue Economy and Tourism market.

“We want to welcome residents of Diani, small business owners, and investors to access financial services through our new branch. We have free bank-to-mobile money cash transfer which means accessing services at a cheaper rate. Small business owners can also get unsecured personal loans of up to sh.10 million to help grow their businesses,” said Dr. Ng’ang’a.

He added that the bank had invested heavily in its digital platforms to allow easier access for its customers.

“I&M is one of the banks that has invested in technology and most of our customers do their banking online. Even accessing huge loans can be done digitally. Technology is very important and as a bank, we will continue to invest in our digital platforms to ensure all our services are online,” said the Regional Business Manager, Coast region.

Speaking during the launch, Kioko Musyoki, South Coast Region Chair of the Kenya Association of Hotelkeepers and Caterers(KAHC) said the new I&M branch expansion provided an opportunity for the local hospitality sector to benefit from access to financial products and services that cater to the needs of the industry.

“Today’s opening holds immense significance in benefiting the local MSME businesses as well as providing tourists with convenient and easy access to financial services. This in turn will help contribute to and grow the local economy which is a powerful step towards financial inclusion for the very stakeholders who fuel Kenya’s tourism,” said Kioko.

The KAHC South Coast Chair called for the collaboration of all stakeholders to ensure a flourishing tourism industry not only for Diani but the whole nation.

“The journey towards a truly inclusive financial ecosystem requires collaboration. Financial partners, like I&M Bank, cannot walk this path alone. It requires the active engagement of stakeholders like KAHC, the government, and the wider Diani hotel and tourism community,” said Kioko.

“Collectively, we have the ability to champion specialized financial solutions tailored to the unique needs of the people in Diani. Additionally, we look forward to educational initiatives and capacity-building endeavors to equip local businesses with financial management skills,” he added.

The Diani branch is the 52nd I&M Bank branch in the country.

Coast region has branches in Watamu, Kilifi, Malindi, Changamwe, Diani, Nyali, and two in Mombasa town.

I&M Bank’s Regional Business Manager Coast Dr. James Ng’ang’a says they will open more branches according to demand.