Kenyan Women’s Network - Kenya
- Kenya
- Resources
- Capacity Building
- Financial Literacy
- Financial Literacy
Key highlights
According to the Global index report
- women in the developing nations, such as Kenya, have a 20% less likelihood of owning a bank account in a formal financial institution.
- 17% less likely to formally borrow money, deficiency in their financial literacy is one of the causes
Why Financial literacy?
Financial literacy is important to women entrepreneurs as it provides them with knowledge on:
- valuing money;
- spending it;
- keeping track on spending through updated records;
- saving for the future and;
- investing in productive and sustainable activities.
What is the situation in Kenya?
Existing statistics show that lack of financial illiteracy among women:
- Remains a major hindrance to their economic empowerment.
- Makes it hard for women to navigate and use financial services, and
- Leads to inappropriate financial decisions
- Exposes women to added risk by borrowing from informal sources, saving too little, and failing to access appropriate financial services.
Various organization and institutions in Kenya have established financial literacy programmes for women entrepreneurs.
Kenyan Women’s Network
Institution
| The Kenyan Women’s Network 4 Yaer program and curriculum includes health and wellness practices, financial literacy, personal development, basic book keeping, basic business skills, human rights, as well as a micro financing program.
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Financial Literacy Programme | Pangea Project Includes a Micro-financing program, which helps women develop small, revenue-generating businesses and become vital members of their community, and are able to provide for themselves, their families and their fellow network members.
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Other initiatives beneficial to women | The program and curriculum also include health and wellness practices, financial literacy, personal development, basic bookkeeping, basic business skills, human rights, |
Contacts | The Pangea Network Second Floor F2-C5 P.O. Box 61136 - 00200 Nairobi, Kenya Phone: +254 (0) 203 882275
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