Credit Bank PLC is giving more focus to women-led businesses to enhance gender inclusivity. To this end, the bank recently sponsored the Women in Business Awards 2019.
The awards celebrated Women in Business for their role and contribution in creating jobs and building the Kenyan economy through their innovations and enterprises.
By supporting women entrepreneurs and easing access to capital, the bank has also created structures to provide networking and mentorship forums for women entrepreneurs in Kenya.
Its products and services are also being tailored to women’s needs, through loan products with favourable collateral requirements and products that include a social support network linking women entrepreneurs to one another.
Boston Consulting Group (BCG) research shows if female entrepreneurs received as much support as male entrepreneurs, the global economy could experience up to a $5 trillion boost.
Women in Business Awards also recognized women who have played a major role in the achievement of the Big Four Agenda projects of the government. For the first time, the awards ceremony incorporated a fashion night that showcased women in business creativity in beauty.
“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,” said Ms Pamela Mutembei, head of business banking at Credit Bank. “A more tolerant, diverse, and creative business landscape will better equip us to tackle future challenges.”
She said through the Entrepreneurship Hub, Credit Bank aims to help direct additional financing and leadership programs to women entrepreneurs. The institution has developed financial technology products tailored to female customers and provides business support for owners of social enterprises.
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“Through social impact investors bank has committed to ensuring support of women-owned businesses,” she said.
Women in Business (WIB), on the other hand, aims to bring together businesswomen from diverse sectors in the economy to help them grow as they encounter new challenges concurrent with the changes in their jobs and in the business environment that they operate in, at both county and national levels.