Fifteen women led enterprises in export value chains are set to access funding to facilitate their entry and expansion in international markets.
Through a partnership between SBM Bank Centre for the Promotion of Imports (CBI), a program funded by the Dutch Ministry of Foreign Affairs, the women entrepreneurs will secure affordable financing through SBM’s financial solutions in order to help them access the financing required for exports.
“Through this partnership with CBI, we are opening new doors for women entrepreneurs to participate in global trade. We are excited about the positive impact this initiative will create in the coming years,” said Bhartesh Shah, SBM Bank Chief Executive Officer.
According to CBI Programme Coordinator Janneke Vereijken, the partnership is one of four pillars of CBI’s Women’s Economic Empowerment project in Kenya, valued at Ksh 282 million (€2m) over 5 years.
“Women entrepreneurs often face significant challenges in accessing international markets, and we are delighted to partner with SBM Bank to address these challenges. This collaboration will empower women to unlock their full potential in global trade,” added Vereijken.
The partnership will also train and coach women entrepreneurs on enhanced financial management skills, export readiness, and other requirements for accessing finance, as well as leverage CBI’s deep-rooted market intelligence and connections to open up international opportunities for Kenyan businesses.
