KCB Group is seeking to deepen its new women proposition, committing billions of shillings towards funding women-owned and women-run enterprises.
The Bank said the drive is meant to strengthen its diversity and inclusivity focus as part of its sustainability agenda by simplifying financial inclusion for women.
The programme dubbed Women Value Proposition has seen the Bank disburse loans worth Kshs 7.1 billion to 1,400 women to date, KCB said in its current Sustainability Report for 2018. It is aimed at increasing credit facilities to women alongside, providing them with both technical and non-financial support.
The initiative is in line with KCB Sustainability 10-point action plan on diversity and inclusion. This pillar aims to incorporate gender diversity as part of its strategic initiative to ensure that we encourage more women to take up key roles in business ventures.
KCB Group 10 point Action Plan
Financial inclusion
Diversity
Security
Energy reduction
Community investment
Ethics and integrity
Environmental impact
Employee development
Responsible lending
Capacity building
“KCB is committed to making financial services more accessible and improving financial literacy. We are exploring possibilities that would reduce inequalities within the society and at the enable their economic development,” said Joshua Oigara, KCB Group CEO and MD.
Within the program, the women go through a financial literacy training and capacity-building program in order to sensitize them on financial empowerment before the disbursement of loans. The Bank attributes the 100% repayment rate success to the financial education foundation set during the empowerment program.
