Credit Bank Plc, a Small and Medium-Sized Enterprise(SME) based Bank in Kenya has launched a women-based product dubbed ElevateHer.
ElevateHer is a transformative program designed to unlock the potential of women entrepreneurs in Kenya.
According to Credit Bank, this product aims to equip women with business skills, offering them mentoring and exposing them to networks, access to capital tools they need to succeed.
Ms Betty Korir, CEO of Credit Bank said the ElevateHER proposition will boost women-run businesses, mitigate against business and household risks and provide access to information both for their business and overall welfare.
” One of the main hurdle to accessing formal financing for most women is the required documentation right from business registration, PIN among others that are now accessed digitally-through e-citizen. Our digital literacy program is aimed at addressing this hurdle, specifically equipping them with the required skills to access services digitally,” said Ms Korir during the launch.
The digital literacy program will make it easier for digital and remote onboarding for women entrepreneurs, making access to finance much easier.
Credit Bank plans to support 10,000 women to sharpen their business skills
Credit Bank plans to support over 10,000 women to develop their business management skills through access to a micro-learning portal.
The Bank also aims to provide business management and financial literacy training to 500 women entrepreneurs using a bespoke blended learning approach. This will give women the knowledge, skills, and tools they need to gain better access to finance and move their business to the next level of growth.
The institution will provide intensive business support to 100 of the 500 women entrepreneurs through tailored business advisory sessions, advanced business workshops, mentoring, networking and links to financial services, investment and markets.
The ElevateHer program will target SMEs who meet the criteria of Women-owned businesses with an ambition for growth.
The business should be hitting revenues of KSh 1 million-plus with an employee base of between 5-30 employees and able to build an innovative product within the agribusiness, energy, manufacturing and healthcare sectors.
This program will include Bespoke Bootcamps, mentor matching that the bank will link entrepreneurs with its pool of expert mentors for ongoing advice as well as experts in residence that will visit their premises for one week for one on one business support.