Stanchart has announced the launch of a business proposition women entrepreneurs dubbed SC Women International Network (SC WIN).
The product was developed in partnership with Safaricom, Mastercard, KEPSA and Jubilee. It includes an end-to-end financial platform with borrowing, saving, investment, insurance options. As a value add, the proposition includes networking opportunities and access to the global market.
SC WIN is founded upon 3 pillars; scale, connect and belong. It will enable women entrepreneurs access invoice discounting, capital, insurance and investment solutions as well as get linked to a global network for better opportunities and become part of a community of like-minded entrepreneurs.
This proposition further presents a well-structured proposition that will not only enhance access to capital but also remove market barriers that often stifle enterprise growth. It is also hinged on a relationship-based model that will be instrumental in driving meaningful dialogue and building connection among women entrepreneurs.
SC WIN proposition seeks to remove structural barriers women in business face with regard to credit, supply chain access and capacity building. It will leverage on Standard Chartered’s global network and capabilities to remove these bottlenecks. SC WIN is aligned to the bank’s stands to Lift participation by driving economic inclusion for women.
The SC WIN proposition is an addition to the Standard Chartered’s initiatives that provide funding and access to opportunities for female entrepreneurs like the GOAL programme, SOMO access to finance programme and the Women in Tech programme.
Kariuki Ngari, Chief Executive Officer (CEO) Standard Chartered Bank Kenya said, “At Standard Chartered, we are committed and intentional about supporting women entrepreneurs succeed. Our progress in this space is reflected in the statistics where we focus on diversity and inclusion in our supplier base. For example, in the first half of 2023, we grew our base of women, youth suppliers from 25 % and 27 %. This is from a 2020 baseline of 17% and aim to close the year above 30%. Our spend with our diverse suppliers was 8% of our total spend in the first half of 2023 from 2% in 2020 and we are working to increase this. 55% of our employees in Kenya are women, while 50% of the Executive Management team are women. Our gender parity on the Board has also improved from 23 % in 2019 to 45 %. Our target is to get to 50%.”