Murang’a entrepreneurs in Small and Medium-sized Enterprises (SMEs) have benefitted with access to information on sustainable financing, markets as well as mentorship programmes through a Women in Business forum held by Absa Bank Kenya.
Speaking during the forum, Absa Bank Kenya Head of SME, Erastus Muthura, highlighted the Bank’s commitment towards empowering SMEs, noting that they play a major role in the growth of the economy.
“At Absa Bank Kenya, we believe in the power of SMEs and in their contribution to the growth of the economy.” Muthura said.
He stated that the Bank tailors solutions that enable entrepreneurs’ access to financial and non-financial skills and has engaged 1000 SMEs in Mt. Kenya region through its Wezesha Biashara initiative.
“We have created forums for entrepreneurs to network and interact with business leaders across the country.” said Muthura.
In the forum that brought together over 200 women, Muthura noted that the Bank has come-up with many unique products targeting women, having noted that women struggle with access to capacity building, exposure and mentorship.
“Women also have challenges such as lack of collateral and lack of information” he observed.
Absa Bank Kenya has held a series of empowerment forums in Mt. Kenya and North Eastern regions, providing 1000 SMEs with a platform to engage and network with industry leaders and to learn about financial solutions in order to enable sustained business growth and resilience.
“Absa has held business club meetings with entrepreneurs from Isiolo, Meru, Garissa, Thika, Nyeri and Murang’a with the mentorship sessions focused on the economic activities in the region,” the Head of SMEs said.
He called upon women in business to formalize their businesses, saying it is an important step in ensuring that the businesses go beyond the founder.
The Kenya National Chamber of Commerce and Industry (KNCCI), Murang’a Chapter Chairperson, Dr. Naomi Kagone, lauded the Bank for its continued commitment to bringing financial services to the grassroots and empowering local businesses to thrive and grow.
“The current economic environment has presented the need for the development of resilient businesses and those businesses need reliable financial partners, to help them navigate economic downturns,” she said.
“We are honoured to partner with Absa Bank Kenya to not only empower our local businesses, but to also ensure they grow to further support our communities,” she added.
Murang’a County Chief Executive Committee Member (CECM) for Public Service Administration, Dr Winnie Mwangi, applauded the initiative by Absa Bank Kenya, noting that giving women access to finances brings gender equity and equality.
She encouraged the Bank to continue investing in women highlighting that empowered women grow their families leading to social and economic transformation.
Absa Bank Kenya through its business clubs has been empowering entrepreneurs in different parts of the country and has previously hosted the forums in the Rift Valley, Western and Coastal regions.
By Purity Mugo
