NCBA Bank will be launching a new branch in Chwele Market, Bungoma County.
Chwele is the second-largest open-air market in Kenya. It is an agricultural market hub located between Kimilili town and Bungoma town. A town of friendly people; the Mulembe nation.
Chwele market is the major meeting point for farmers from the surrounding areas of Mt Elgon, Namwela, Sirisia, Lurende, Matibo, and Chebukaka every Monday when there is a market day. It is one of the largest markets that sell majorly fresh produce.
Large quantities of maize, bananas, local vegetables, sim-sim, Irish potatoes, sweet potatoes as well as livestock are available for sale on this market. They are affordable too. Anything you need, fresh from the farm, you will find at Chwele Market.
Despite the vibrancy, the thriving business, and the entrepreneurial spirit among the people and traders at Chwele, something interesting and scary at the same time stands out; Chwele Market has no bank. For years, traders at people at Chwele who wanted to transact had to travel to either Kimilili or Bungoma town.
The whole market has been 100 percent unbanked. Traders have been suffering with the only available mode of cashless transaction being M-Pesa. This also means that many residents of Chwele do not have bank accounts, because nobody has ever reached out to them.
The coming of NCBA Bank to Chwele is not just an investment for the bank, but a way of giving back in kind that is set to awaken the sleeping economic giant of Chwele town. The excitement of people learning that they will from today have a bank near them is on another level.
Through the branch, traders and residents of Chwele, will for the first time walk in and open accounts, deposit cash, start saving, and even apply for loans for the businesses. It is no longer going to be business as usual hapa Chwele. Khabusie!
