As various financial institutions share their performance in the economic sector, Family Bank has emerged winner of the Access to Funding Award 2024 edition.
The bank’s Queen Banking product took the lead in the inaugural Banking on Women Awards, reinforcing the institution’s place in the banking sector.
Reacting to the win, Family Bank Head of Women Banking Rose Kamene said the award is a recognition of the bank’s efforts in empowering women in the country financially.
“This award reflects our unwavering dedication to transforming the financial landscape for women in Kenya. Through our Queen Banking, we aim to provide women with access to financing, growth, and investment opportunities, as well as education and information,” Kamene said.
Accepting the award, Kamene emphasized the role of investing in women, saying they are a worthwhile demographic to invest in.
“This award is a recognition of the untapped potential that women entrepreneurs have to offer. We are incredibly proud of the impact Queen Banking is making in empowering women and look forward to expanding its reach to more women across the country,” she added.
Queen Banking was launched in 2023 and has attracted 50,000 female customers. The bank set aside Ksh 50 billion for the kitty in a bid to cater to the economic growth of women in Kenya.
What Is Family Bank Queen Banking?
Queen Banking is a comprehensive product by Family Bank that caters to different individual and business needs of women to promote their economic empowerment and deepen financial inclusion in the country. It is designed to help women entrepreneurs access affordable funding, build their financial resilience, and grow their businesses sustainably.
So far, over Ksh 11 billion of the funds set aside by the bank for women have been accessed, helping them achieve their various economic goals in a sustainable manner.
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Additionally, Queen Banking provides access to secured and unsecured loans through Biashara Boost to women to finance working capital and construction of schools with up to 95 percent for school bus financing.
Women interested in the kitty get to access unsecured loans for agri-business input loans, trade finance solutions, lifestyle benefits through strategic partnerships, chama savings and investment options, and tailor-made insurance solutions.
Queen Banking is one among various products in the Kenyan bank sector that aims to empower women financially, fostering financial inclusion and overall economic growth of the country.
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Women in Kenya have seen banks set aside specific products for their financial growth with various investors partnering with the banks in support of the women’s empowerment efforts in the country.
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