This archive report was first published on 2 December 2019.
December 2, 2019, marked a significant milestone for women entrepreneurs in Africa as Credit Bank PLC joined forces with the African Development Bank (AFDB) and other multilateral development bank partners to launch the Affirmative Finance Action for Women in Africa (AFAWA) initiative.
Through AFAWA, the partners aim to generate up to $3 billion in new lending to women entrepreneurs across Africa over the next five years, thereby easing access to capital and supporting the growth of women-led businesses.
Speaking at the 4th Global Gender Summit in Kigali, Rwanda, Credit Bank CEO Mrs. Betty Korir emphasized the bank's commitment to supporting women entrepreneurs. 'As Credit Bank, we seek to be at the forefront of enabling the growth of women-led enterprises. We anticipate facilitating this by directing additional financing and leadership programs to women entrepreneurs.'
Under the AFAWA initiative, Credit Bank has developed financial technology products tailored to female customers and provides business support for owners of social enterprises. The bank is committed to ensuring the support of women-owned businesses through partnerships with social impact investors.
With its headquarters in Nairobi and 17 branches across the country, Credit Bank is a fully digitized bank that operates under the tagline 'My Friend, My Bank.' The institution has a strong focus on supporting small and medium-sized enterprises (SMEs) in various sectors.
