Exciting news from KCB Bank Kenya! They’ve secured €30 million (Sh4.2 billion) from the Bill & Melinda Gates Foundation and the European Investment Bank (EIB) to empower women entrepreneurs and startups in Kenya.
This funding will be disbursed through KCB’s Female-Led and Made Enterprises (FLME) and the KCB 2jiajiri programmes, aiming to create flexible, accessible, and affordable funding solutions for women entrepreneurs. Through FLME, KCB has already disbursed loans worth Sh116 billion to over 600,000 female customers, constituting 35% of their SME loan book.
KCB Bank Kenya Managing Director, Annastacia Kimtai, emphasized the importance of addressing banking’s gender gap, highlighting the potential for significant economic growth by promoting female financial inclusion and access to credit. Greta Bull from the Bill and Melinda Gates Foundation also stressed the need for more and better credit access for women, noting that this partnership will transform Africa’s banking landscape and drive economic growth.
This initiative, supported by a partial guarantee from the European Union (EU), is a significant step towards empowering women in business and fostering economic growth in Kenya and beyond.
