Diamond Trust Bank Kenya Ltd (DTB) - 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.
Diamond Trust Bank Kenya Ltd (DTB)
Institution
| Diamond Trust Bank Kenya Ltd. engages in the provision of banking services. DTB serves individual consumers, small and middle-sized businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. |
Financial Literacy Programme | Supported by the Kenya Bankers Association (KBA), Diamond Trust Bank (DTB) has rolled out financial literacy training for entrepreneurs running Micro, Small and Medium Enterprises (MSMEs). The training is conducted by trainers through the Kenya Bankers Association, which facilitates it under their Inuka Enterprise Programme. |
Cost of training | The training is free of charge and is meant to inculcate in the entrepreneurs necessary skills required to run their businesses effectively to enable them take advantage of the finance opportunities offered by banks. |
Duration | N/A |
Other initiatives beneficial to women | Mobile and electronic banking Loans including business loans. Current and Savings Accounts |
Contacts | Diamond Trust Bank Kenya Ltd, |