Banks
NBK Unveils New Initiative to Empower Women in Business
The National Bank of Kenya(NBK) has launched a new initiative aimed at empowering women entrepreneurs by providing them with access to financial support, capacity building, and mentorship to enable them sustainably grow their businesses.
The Nia initiative will offer a variety of financial options, including company loans, asset finance, and overdraft facilities, to assist female business owners in meeting their financial demands.
The program will also provide technical assistance to aid the women in creating their business plans, enhancing their marketing and branding strategies, and strengthening their financial management abilities.
As a result of the program, women-owned businesses will have quicker access to funding through the Sh5 billion NBK Majikonnect Program supporting water, sanitation, and hygiene, with up to 75% of the collateral covered by the African Guarantee Fund.
Students will also have access to the Sh2 billion NBK Elimukonnect Program, which supports the educational field and institutions of higher learning
George Odhiambo, the managing director of NBK, stated during the event that the lender is dedicated to developing women entrepreneurs in the nation and promoting women-led enterprises.
” We recognize that women entrepreneurs face unique challenges in accessing finance and growing their businesses. Our goal is to offer them the support they need to overcome these obstacles and achieve their full potential,” said Odhiambo.
As part of the Nia Offering, the bank has also launched “You’ve Got business”, a digital property show connecting upcoming female entrepreneurs with experienced business leaders who will offer guidance and advice on how to grow their businesses and overcome any challenges they may face.
“We have worked with our partners to co-create the ‘You’ve Got Business show’ to give a platform for aspiring entrepreneurs to pitch their business ideas to a panel of Kenyan business moguls who can either fund their businesses or offer mentorship where they cannot invest,” Odhiambo concluded.
