National Bank of Kenya (NBK) has unveiled a new initiative dubbed Nia that is aimed at enabling women entrepreneurs in Kenya to access financial support and mentorship.

Nia aims to provide women-owned and women-led enterprises with access to financing, capacity building, and mentorship to sustainably grow their businesses and create new jobs.

NBK says its Women in Business Value Proposition is a strategic move to support women-led businesses, while recognizing the key role played by women in driving economic growth.

NIA will see women businesses get accelerated funding from the Sh5 billion NBK Majikonnect Program supporting Water, Sanitation and Hygiene, with African Guarantee Fund collateral cover for up to 75 per cent, and the Sh2 billion NBK Elimukonnect Program supporting education.

NBK says the Nia Offering will also provide a variety of financial products, including business loans, asset financing and overdraft facilities for the benefit of the women entrepreneurs.

The initiative will also offer technical assistance to help develop their business plans, boost their financial management skills and enhance their marketing and branding strategies.

NBK Managing Director George Odhiambo affirmed the lender’s pledge to support businesses owned and led by women and empowering women entrepreneurs in Kenya.

“We recognize that women entrepreneurs face unique challenges in accessing finance and growing their businesses. Our goal is to offer them the support they need to overcome these obstacles and achieve their full potential,” said Odhiambo.

He added, “By providing women entrepreneurs with the resources they need to succeed, we hope to create a more vibrant and prosperous economy for all.”

As part of the Nia Offering, NBK also unveiled “You’ve Got business,” a digital property connecting upcoming female entrepreneurs with experienced business leaders to offer guidance and advice on how to grow their businesses and overcome arising challenges.

“We have worked with our partners to co-create the ‘You’ve Got Business show’ to give a platform for aspiring entrepreneurs to pitch their business ideas to a panel of Kenyan business moguls who can either fund their businesses or offer mentorship where they cannot invest.

“The show is in line with NBK’s initiative that aims at creating job opportunities for the youth and skilling them for self-employment while at the same time providing funding, nurturing and mentoring future entrepreneurs.”

Nia is open to all women entrepreneurs in Kenya across various sectors and will be available at every stage of development.