KCB gives Ksh250B to women in business

KCB Bank Kenya is set to spend Sh250 billion to fund women entrepreneurs in the next five years as it maintains commitment to oil economic growth. 

In a newly revamped women offering, the bank will extend the funding to women-led and owned small and medium enterprises (SMEs) across the country. 

The lender has already eased credit requirements and documentation such as security. This is expected to save interested entrepreneurs from the long processing period often associated with loan applications.

The entrepreneurs will also be able to get non-financial support extended by partner organizations.

 “What we are now doing is mainstreaming this agenda by widening the net to enable more women entrepreneurs to get access to the critical business support touchpoints,”KCB Group CEO Paul Russo said. 

He added: “Women are running some of the most transformative business enterprises in Kenya which we see as the conglomerates of the future. At the same time, they face a lot of obstacles, like limited access to credit facilities, labor and skill gaps, exclusion from key networks, as well as social and legal constraints.”