Kenya rides on the wheels of small and medium enterprises (SMEs). 90 percent of businesses in the country are said to be SMEs. These businesses employ 86 percent of the Kenyan population and contribute above 40 percent to the country’s gross domestic product.
Most of these businesses are owned by women, unfortunately, categorized as “informal” since most of them have not been formalized. Running an informal business has its share of challenges with the main one being the inability to get loans from reputable commercial banks.
What is more, according to the Economics Kenya Labour Force Report 2022, women form 49.7 percent of Kenya’s total labor force, makeup 50.3 percent of Kenya’s total population, and 40 percent of micro and formal SMEs are owned by women.
Related Content: Why A Kenyan Woman Needs Queen Banking By Family Bank
But Family Bank has come to the aid of women with the main goal of empowering them economically and financially. The bank has set aside 50 billion shillings through its Queen Banking initiative to front loans and financial assistance to Kenyan women who are in business.
According to the Family Bank, Queen Banking is a move by the lender to empower women in the world of finance. The bank understands the unique challenges faced by women, whether you are a business owner, a professional, or a group of women seeking financial growth, the lender is committed to providing the support needed to thrive.
If you are a woman and need to thrive financially, the online form can be filled out through this link on the Family Bank Website https://familybank.co.ke/fbl_queen/ and it will take you at least 20 seconds to be done with the whole process.
Do not just sit there as others take advantage of the Queen Banking product and succeed.