Credit Bank to support women in business to spur economy

Credit Bank Head of Business Pamela Mutembei (right) awarding a winner during the Women in Business 2019 Awards. PHOTO | NDUNG'U GACHANE | NATION MEDIA GROUP 

In Summary

• Ms Mutembei said they have come up with structures, products and services tailored to suits women’s needs.
• She said they anticipate to help direct additional financing and leadership programmes to women.
• Ms Mutembei was speaking recently during an award ceremony for women entrepreneurs.

By NDUNG’U GACHANE
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Credit Bank has partnered with Women In Business Kenya (WIB) in bid to acknowledge and celebrate the best women entrepreneurs across the country.

Through the partnership, the bank announced that it will focus on women-led businesses in order to enhance gender inclusivity. This will be done through enabling the growth and development of women in the business sector.

WOMEN NEEDS

The bank’s head of business Pamela Mutembei said they have come up with structures, products and services tailored to suits women’s needs.

“Through the need to support women entrepreneurs and ease access to capital, the bank [will also] provide networking and mentorship forums for the women entrepreneurs in Kenya. These products and services are tailored to [suit] women’s needs through loan products with favourable collateral requirements and products that include a social support network linking women entrepreneurs to one another,” she said.

She said that through the bank’s entrepreneurship hub, they anticipate to help direct additional financing and leadership programmes to women entrepreneurs after the institution developed financial technology products tailored for female customers and provision of business support for owners of social enterprises.

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TACKLE CHALLENGES

“Women make up half the world and so too should they in the business world. When they do, we will all be happier and better off. A more tolerant, diverse, and creative business landscape will better equip us to tackle future challenges,’ she said.

Ms Mutembei was speaking recently during an award ceremony for women entrepreneurs.

The awards seek to acknowledge and celebrate women in business for their role and contribution in creating jobs and building the Kenyan economy through their innovations and enterprises

The 2019 awards recognised women who have played a major role in the achievement of the Jubilee administration’s Big Four agenda.

For the first time, the awards ceremony incorporated a fashion night.

New research from Boston Consulting Group (BCG) found that if women entrepreneurs received as much support as the male entrepreneurs, the global economy could experience up to a USD5 trillion boost. As such, empowering women to start up businesses is an issue of global development too.