Women entrepreneurs across Kenya is set to benefit from Absa bank and Women’s World Banking partnership which aims at deepening their financial inclusion and promoting economic empowerment.
This partnership was signed on the sidelines of the Women’s World Banking partners’ breakfast held in Nairobi.
It will focus on enhancing Absa’s Women in Business (WIB) proposition by leveraging on Women’s World Banking’s international expertise in women-focused financial inclusion to provide innovative financial and non-financial solutions tailored to the needs of female entrepreneurs.
This collaboration is expected to support the growth of women-led enterprises by delivering innovative products, building their access to credit and capacity.
Speaking about the partnership, Absa Bank Kenya’s Director of Business Banking, Elizabeth Wasunna–Ochwa described the collaboration as a step in the right direction in the Bank’s efforts to champion inclusion in banking.
“This partnership creates the perfect platform that combines Absa’s local experience with the Women’s World Banking’s global expertise to empower women entrepreneurs with the tools, training and financial boost they need to grow sustainable businesses. At Absa Bank, we have been investing in programs and partnerships that support small and medium-sized enterprises (SMEs), with a particular focus on women entrepreneurs. We are excited about this partnership with Women’s World Banking as we work towards reinforcing Absa’s role as a leader in inclusive finance,” said Wasunna.
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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.
According to a 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.
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, especially those from underserved societies.
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“At Women’s World Banking, we are thrilled to partner with Absa Bank on this innovative initiative to expand women’s access to finance and capacity-building. This collaboration reflects our shared commitment to supporting women entrepreneurs at every stage of their journey, unlocking the market opportunities they need to grow sustainable businesses,” said Iskenderian.
She added that they are looking ahead to the first project focused on empowering women in the agricultural sector, noting that there is a tremendous potential to drive long-term economic growth, resilience and prosperity for women and their communities.
As more financial institutions work towards gender-responsive banking models, the Absa-WWB alliance not only seeks to serve as a catalyst for meaningful change by delivering sustainable solutions but also to break systemic barriers that women face in accessing financial and business support.
By Brian Ndigo
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