ABSA Bank Kenya is looking to link local women-led SMEs with global institutions, in an effort to boost financial inclusion.
Through a collaboration with Women’s World Banking (WWB) and the International Trade Centre (ITC), the plan will grant SMEs access to international banking solutions, trade opportunities and tailored financial programmes.
Absa Kenya’s business banking director, Elizabeth Wasunna-Ochwa, said the initiative is a blend of local experience and global insights designed to support women in building resilient enterprises.
“We have been investing in programmes and partnerships that support small and medium-sized enterprises , with a particular focus on women entrepreneurs. We are excited about this partnership as we work towards reinforcing Absa’s role as a leader in inclusive finance,” said Wasunna.
According to an MoU signed by the two partners, the agreement allows for multiple collaborative projects, each guided by a specific Statement of Work (SOW), with the first proposed SOW focused on supporting women in agribusiness, a crucial sector that has remained largely underfinanced particularly for women from underserved communities.
Since the launch of the Absa SHE propositions, Absa Bank has supported over one million women entrepreneurs in Kenya, providing them with the requisite financial and non-financial support to scale up and take their businesses to the next level.
Speaking about the partnership, Mary Ellen Iskenderian, president and CEO of Women’s World Banking, said it will bring inclusive financial services to more women.
“This collaboration reflects our shared commitment to support women entrepreneurs at every stage of their journey, unlocking the market opportunities they need to grow sustainable businesses,” Iskenderian said.
“As we look ahead to the first project focused on empowering women in the agricultural sector, we see tremendous potential to drive long-term economic growth, resilience and prosperity for women and their communities.”
Women in Kenya are outshining their regional peers in entrepreneurial spirit, with nine out of 10 considering starting or running their own businesses, a recent survey by Mastercard indicates.
Compared to the region, 93 per cent of Kenyan women consider starting or running their own business, way above the Eastern Europe, the Middle East, and Africa (EEMEA) average of 51 per cent.
According to the Mastercard survey, older generations in Kenya, including Baby Boomers (93 per cent) and Gen X (90 per cent), are slightly more likely to view themselves as entrepreneurs compared to the 85 per cent of Gen Z, and 89 per cent of Millennials.
by JACKTONE LAWI
