• 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.

                                                                                                Read more

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.

 

angle-left Kenya Women Microfinance Bank (KWFT)

Kenya Women Microfinance Bank (KWFT)

About KWFT

 

Kenya Women Microfinance Bank was founded in 1981 by a group of professional women from different professions who were driven by the passion of establishing a Financial Institution that would be committed to exclusively address the financial and non-financial needs of the women in Kenya.

KWFT hasa deep penetration in remote, rural and peri-urban areas with a network of 245 branch offices spread across 45 out of the 47 counties in Kenya. It currently serves over 800,000 clients countrywide. Read more

Financial Literacy Programme

KWFT initiated a group lending product where women with no collateral can guarantee each other loans, thus opening avenues for them to access financing. But before the women are given the loans, they undergo 8 weeks training on financial literacy to learn various business skills.

After the financial literacy training and uptake of the loans, the women hold monthly meetings with the KWFT officers where they walk the financial journey bringing the financial services at the their doorstep providing convenience and save time and money. Read more

Cost of training

The training is free of charge and the women are trained on bookkeeping/ record keeping and how to save.

Duration

N/A

Other initiatives beneficial to women

Agriculture Financing

 

KWFT supports the smallholder farmers in their agribusiness operations through offering credit facilities and training to boost their economic value and ensure food security both at the household and the society level.

 

Mothers rooms

The KWFT branches have designed mothers’ room (to change and breast feed the baby), wall mirrors and fast lanes (queues) for the elderly and expectant women. The mothers’ room is also an avenue for disseminating information on maternal health and the baby’s wellness. Read more

Contacts

KWFT Headquarters, Akira House,
Kiambere Road, Upper Hill
P.O. Box 4179 – 00506
Nyayo Stadium, Nairobi
Phone: +254 703 067 700/ +254 703 067 000/ +254 730 167 000
Email: info@kwftbank.com
Website: www.kwftbank.com