National Bank of Kenya (NBK) has launched a new initiative that is aimed at empowering women entrepreneurs in the country.

Dubbed Nia, the initiative seeks to provide women owned and women led enterprises with access to financial support, capacity building, and mentorship to enable them sustainability grow their businesses.

Through the Nia Offering, Women Enterprises will have accelerated access to financing from the Ksh. 5 billion NBK Majikonnect Program supporting Water, Sanitation and Hygiene, with African Guarantee Fund collateral cover for up to 75%. They will also have access to the Ksh. 2 billion NBK Elimukonnect Program supporting the Education Sector and Schools.

The Nia Offering will provide a range of financial solutions. They include business loans, asset financing, and overdraft facilities. They are intended to help women entrepreneurs to meet their business needs. The programme will also offer technical assistance to help them develop their business plans, improve their financial management skills, and enhance their marketing and branding strategies.

Speaking during the launch, NBK Managing Director George Odhiambo said the lender is committed to supporting women-led businesses and empowering women entrepreneurs in the country. In this regard, the launch of Nia is a significant step towards achieving this goal and driving economic growth and development in Kenya.

“We are excited to launch Nia, which is part of our commitment to supporting women-led businesses in Kenya. We recognize that women entrepreneurs face unique challenges in accessing finance and growing their businesses. Our goal is to offer them the support they need to overcome these obstacles and achieve their full potential. By providing women entrepreneurs with the resources they need to succeed, we hope to create a more vibrant and prosperous economy for all,” said Mr. Odhiambo.

To ensure the success of Nia, the Bank will also offer mentorship support to women entrepreneurs. As part of the Nia Offering, the bank has also launched You’ve Got business. It is a video learning program on YouTube that seeks to connect female entrepreneurs with experienced business leaders who will offer guidance and advice on how to grow their businesses.

“We have worked with our partners to co-create the You’ve Got Business show to give a platform for aspiring entrepreneurs to pitch their business ideas to a panel of Kenyan business moguls who can either fund their businesses or offer mentorship where they cannot invest. The show is in line with NBK’s initiative that aims at creating job opportunities for the youth and skilling them for self-employment while at the same time providing funding, nurturing and mentoring future entrepreneurs.” Mr. Odhiambo concluded.

Nia is open to all women entrepreneurs in Kenya, regardless of their sector or industry and will be available at every stage of development