Swisscontact - Swiss Foundation for Technical Support - 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.
Swisscontact - Swiss Foundation for Technical Support
Institution
| Swisscontact is an organization that implements international development projects. The organization promotes inclusive economic, social, and ecological development to make an effective contribution towards sustainable and widespread prosperity in developing and emerging economies.
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Financial Literacy Programme | Inclusive Financial Programme Through this programme, Swisscontact pushes the «banking frontier» further down the poverty line, increasing access to financial services for smallholder farmers and micro-entrepreneurs, thereby boosting their economic activities. These services include:-
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Other initiatives beneficial to women |
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Contacts |