GULF AFRICAN BANK UNVEILS THEIR REVAMPED WOMEN BANKING PROGRAM, PLEDGES GREATER SUPPORT FOR WOMEN IN BUSINESS
Nairobi – 3rd December 2022: Gulf African Bank has today unveiled their revamped Women Banking Program, Annisaa comprising of a comprehensive suite of financial and non-financial solutions targeting women in business.
Designed to meet the needs of today’s woman, the program aims at empowering women at all levels of the economic value chain by providing women with a comprehensive suite of financial and non-financial solutions guided by five key pillars – empower, educate, protect, wellness and network.
The revamp of the program has been informed by many developments including the pandemic which greatly affected level C economies like Kenya that saw many businesses struggle and change the way they do business with many taking the path to cautious recovery.
Through the program, the Bank seeks to empower women to achieve what matters most to them through our dedicated women only teller areas in branches, making their businesses procurement ready, financing them when they win tenders, managing related contracts while protecting what they have worked hard to build – their future, while educating them to ensure they are equipped with the right skill set and knowledge to enable them build a solid business through training workshops and webinars.
During the event, the bank launched Annisaa Market place, a free exhibition space for women in business. Over 50 local female entrepreneurs used the opportunity to sell their wares, popularize their brands, and grow their customer base while networking. The open market place provided a destination for consumers from Nairobi County to support Women Owned Businesses.
Speaking during the launch of the program, Gulf African Bank’s Head of Business Saada Mohamed said “Gulf African Bank seeks to become a catalyst for women’s financial inclusion in the country. We are looking at bridging the credit gap for women owned businesses in Kenya. We are going to drive impact through cutting edge training programs and fostering partnerships with like-minded institutions to ensure women have access to markets for their goods and training opportunities”.
The program has been restructured to ensure it plays a part in reversing the trend where up to 70% of formal Women Owned Enterprises in developing countries are either shut out by financial institutions or are unable to receive financial services on adequate terms to meet their needs. Those with running small and medium sized enterprises will also get access to financing to enable them to upscale. They will also get access to asset financing, Working Capital financing and home finance to enable them purchase property at discounted rates through the various partnerships that the Bank has.
During the event, the Bank was officially committed as a full member of UN Global Compact, successively enabling them to gain access to local network support, best practice guidance and unprecedented networking access with UN Global Compact participants. Gulf African Bank is a proud signatory of the Women Empowerment Principals (WEPS) and the champion of principle number 5 – Promotion of enterprise development, supply chain and marketing practices that empower women.
In recognition of the fact that lack of networks and knowledge hugely constrain female entrepreneurship, the Bank has scheduled periodic segment-specific trainings with like-minded partners like UN Global Combat to equip women in business with critical financial management skills to enable them re-invest in their businesses profitably and gradually move to higher-margin activities.
To ensure the women have access to information, the Bank has developed the only women banking website in the country. On the website, ladies get to register as members, access the knowledge hub, network, get advisory services, read success stories, and get access to discounts and numerous other exciting offers.
About Gulf African Bank
Gulf African Bank is the Premier Shari’ah compliant Bank in Kenya, offering products that address the needs of not just Muslims, but everyone in the country through fair, safe and ethical banking practices. Gulf African Bank is a pioneering Islamic Bank not only in Kenya but also in the entire East African region, whose shareholders include: Istithmar World (the investment arm of the Government of Dubai); Alsalam Bank-Bahrain (a leading regional bank headquartered in Bahrain); Sheikh Abdullah Mohammed Al Romaizan (a leading investor from Saudi Arabia); Trade Development Bank (Previously PTA Bank), IFC (The Private Investment Arm of World Bank) among others. www.gulfafricanbank.com
For more information contact;
Fathia Abdulle
Gulf African Bank
Marketing and Corporate Communications
0711075000
