On finance, women entrepreneurs will have access to unsecured lending of up to Sh10 million, payable over five years for existing borrowers, and Sh7 million for new borrowers payable in four years. The new drive is part of the bank's commitment to promoting, Speaking at the launch event, Absa Kenya Managing Director Jeremy Awori said, and would go a long way in addressing historic challenges that face women entrepreneurs. A report published by the Central Bank of Kenya in 2018 indicates there were 517,000 registered women owned businesses, 33 per cent of which are SMEs. Absa business banking director Elizabeth Wasunna said:“The introduction of the Absa She Business proposition reflects our gender and economic diversity as we seek to provide integrated offerings for women-led businesses which have incredible growth potential." The bank will partner with various institutions including the International Trade Centre (ITC), Kenya National Chambers of Commerce and Industries, Kenya Association of Manufacturers and development finance institutions in the drive.

Source: The Star May 07, 2021 10:07 UTC