Absa Bank partners with women's world banking to boost women entrepreneurs

From left: Erastus Muthura, Absa Bank Kenya Head of SME Banking, Elizabeth Wasunna-Ochwa, Absa Bank Kenya Business Banking Director, Mary Ellen Iskenderian, CEO, Women's World Banking (WWB) and Elizabeth Gathai, Regional Head of Africa, WWB during the signing of an MOU between Absa Bank Kenya and WWB to promote the inclusion of more women in business across the country. [Benard Orwongo,Standard]

Absa Bank Kenya has entered into a strategic partnership with Women's World Banking (WWB) to enhance financial inclusion and empower women entrepreneurs across Kenya.

The partnership, officially signed during the Women's World Banking partners breakfast in Nairobi, will strengthen Absa's Women in Business (WIB) initiative by integrating WWB's global expertise in women-focused financial inclusion.

The collaboration aims to deliver both financial and non-financial solutions tailored to the unique needs of female entrepreneurs, especially those from underserved communities.

Speaking during the event, Absa Bank Kenya's Director of Business Banking, Elizabeth Wasunna-Ochwa, emphasized the importance of the alliance.

"This partnership creates the perfect platform that combines Absa's local experience with Women's World Banking's global expertise to empower women entrepreneurs with the tools, training, and financial boost they need to grow sustainable businesses."

Wasunna noted that Absa has long invested in empowering small and medium-sized enterprises (SMEs), with a strong focus on women entrepreneurs.

Since launching the Absa SHE proposition, the bank has supported over one million women entrepreneurs with capital, training, and business development tools.

The Memorandum of Understanding (MoU) signed between the two institutions outlines a framework for collaborative projects under various Statements of Work (SOWs).

The first proposed initiative will target women in agribusiness-an often underfunded yet critical sector in Kenya's economy.

Mary Ellen Iskenderian, President and CEO of Women's World Banking, expressed enthusiasm about the partnership.
"We are thrilled to partner with Absa Bank on this innovative initiative. As we look ahead to the first project focused on empowering women in the agricultural sector, we see tremendous potential to drive long-term economic growth, resilience, and prosperity for women and their communities,"she said.

The Absa-WWB collaboration is expected to be a significant catalyst in promoting gender-responsive banking, breaking down systemic barriers, and driving inclusive economic transformation in Kenya.