Absa Bank Kenya has empowered Murang’a SMEs through a Women in Business forum, offering financing solutions, mentorship, and market access.
(Nairobi) – Murang’a County entrepreneurs in Small and Medium-sized Enterprises (SMEs) have gained access to sustainable financing, mentorship, and market opportunities through a Women in Business forum organized by Absa Bank Kenya. The initiative underscores the bank’s commitment to supporting SMEs as vital contributors to the national economy.
Speaking at the event, Erastus Muthura, Absa Bank Kenya’s Head of SME Banking, highlighted the critical role of SMEs in driving economic growth. “At Absa Bank Kenya, we believe in the power of SMEs and in their contribution to the growth of the economy,” he said.
Muthura emphasized the bank’s tailored solutions for entrepreneurs, which include financial products and skill-building opportunities. Through its Wezesha Biashara initiative, Absa has engaged 1,000 SMEs in the Mt. Kenya region. “We have created forums for entrepreneurs to network and interact with business leaders across the country,” he added.
The Murang’a forum drew over 200 women entrepreneurs and spotlighted Absa’s unique products designed to address the specific challenges women face, such as limited access to collateral, information, and mentorship. “Women also have challenges such as lack of collateral and lack of information,” Muthura noted.
Absa Bank has conducted similar forums in the Mt. Kenya and North Eastern regions, providing 1,000 SMEs with platforms to network with industry leaders and learn financial strategies for sustainable business growth. These forums have included business club meetings in Isiolo, Meru, Garissa, Thika, Nyeri, and Murang’a, with mentorship sessions tailored to regional economic activities.
Muthura encouraged women to formalize their businesses to ensure longevity and growth beyond the founder.
The Kenya National Chamber of Commerce and Industry (KNCCI), Murang’a Chapter Chairperson, Dr. Naomi Kagone, praised Absa’s grassroots financial initiatives. “The current economic environment has presented the need for resilient businesses, and those businesses need reliable financial partners to navigate economic downturns,” she stated. She added that the partnership between KNCCI and Absa Bank supports local businesses to thrive and bolster community growth.
Dr. Winnie Mwangi, Murang’a County Chief Executive Committee Member for Public Service Administration, lauded Absa’s focus on women’s empowerment. “Giving women access to finances promotes gender equity and equality,” she said, emphasizing the transformative impact of empowering women on families and communities. She encouraged the bank to continue investing in women to drive social and economic progress.
Absa’s Women in Business forums have been held in other regions, including the Rift Valley, Western, and Coastal areas, as part of its mission to empower entrepreneurs nationwide. These events aim to build business resilience and foster long-term growth.
| Highlights of Absa’s SME Empowerment Efforts | Impact |
|---|---|
| SMEs engaged through Wezesha Biashara | 1,000 in Mt. Kenya region |
| Women entrepreneurs attending Murang’a forum | Over 200 |
| Regions covered by Absa’s mentorship forums | Mt. Kenya, North Eastern, Rift Valley, Western, Coastal |