Family bank rolls out exclusive women banking proposition to drive financial inclusion

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NAIROBI, Kenya Sep 25...Family bank has set aside 50 billion on program dubbed 'queen Banking' kitty for the next two years to cater for diverse individual and business needs of women to promote women's economic empowernment and deepen financial inclusion in the country

The product is exclusive to businesses with at least 51 percent of shares controlled by women or 100 percent owned by women , businesses where women constitute of 30 percent of the board or more than 25 percent of senior management 

" We are of the partnership we have fostered with family bank since 2015 and today's launch of their new women banking proposition is supported by our capacity development initiative under the affirmative finance action for women in Africa (AFAWA) program" African Guarantee fund Group CEO Jules Ngankam said

Subsequently women can access up to KES 7 million secured and unsecured loans through Biashara boast , unsecured lending of up to 2.5 million , unsecured lending of up to 10 million for working capital 

Futhermore 2 million unsecured loan for Agri-business input loans , trade finance solutions, lifestyle benefits through strategic patnerships, chama savings and investment option as well as bundled insurance solutions 

"We recognize that Kenyan women needs access to financing growth and investment opportunities as well as education and information, networking with likeminded people businesses and individuals recognition and reward and this is what we will be able to offer through queen banking" said Family bank CEO Rebecca mbithi

"As a bank we are making a deliberate effort to serve the women owned and women led businesses that form over 40 percent of our client base" added Mbithi

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