Women in manufacturing can now leverage on a partnership between Kenya Association of Manufacturers and SBM Bank Kenya to access finance.
In a meeting held yesterday by the two institutions, SBM Bank Kenya CEO, Moezz Mir noted that the partnership will play a role in facilitating access to finance to enable women-owned and lead businesses take up opportunities within the manufacturing sector.
“Access to capital remains a hindrance to entrepreneurship, business growth and expansion. This is especially true for women-owned and run businesses due to the reliance on traditional modes of finance that are heavily reliant on collateralization of assets,” Mir said.
To tackle such barriers, he noted that the banking sector should move away from from collateral-backed lending and adopt technological innovation to enable easy access to finance for all.
According to Women in Manufacturing Chairperson Flora Mutahi , women need empowerment to step forward and dare to grow.
KAM CEO Phyllis Wakiaga, the Programme is meant to bridge the gap between existing opportunities in manufacturing and the kind of skill required to increase the participation of women in manufacturing.
