Women have hailed Equity Bank’s Fanikisha programme for transforming their financial fortunes, saying the initiative has helped them overcome barriers such as limited access to credit and lack of tailored financial products.
Beneficiaries said the programme has enabled them to grow businesses, create jobs, and improve their living standards through access to affordable financing and business development support.
“I lost my job and decided to venture into the short-stay rental apartment business before expanding into construction,” said Priscah Wambui, a beneficiary from Kwale County.
Anastacia Mghoi, another beneficiary said despite challenges such as demolitions and break-ins, the bank continued to support her business through overdraft facilities, supplier ecosystem banking, and financial literacy training.
“Equity Bank gave me my first loan of Sh50,000 after I had built a credit history, and that helped me start growing my business.” she said .
Mghoi, said she progressed from operating a roadside kiosk to becoming a regional fast-moving consumer goods distributor with 11 trucks, warehouses, and more than 30 employees.
Susan Nduku, a curio shop owner targeting tourists in Shimba Hills and Mwaluganje, said she and members of her chama were able to expand their businesses and build homes through the initiative.
“Through financial literacy training and the Fanikisha tailored solutions, all 14 of us in our group have been able to build homes and grow our businesses,” she said.
Equity Bank said the programme is part of its broader strategy to promote financial inclusion and empower women entrepreneurs across Kenya.
The bank said women-led enterprises across the country are benefiting from improved access to affordable credit and business development support following the nationwide rollout of the enhanced Fanikisha women’s banking solution.
The initiative is designed to expand financial inclusion through tiered financial products targeting businesses at different growth stages, including Shaba for startups, Dhahabu for micro businesses, Almasi for small and medium enterprises, and Platini for corporate clients.
The rollout coincides with International Women’s Day celebrations, reflecting growing efforts to strengthen women’s economic participation in the country.
Equity Bank said since the launch of the Fanikisha initiative in 2007 in partnership with the United Nations Development Programme, the programme has disbursed more than Sh565.6 billion to women-led businesses across Kenya.
The programme also provides non-financial support such as financial literacy training, mentorship, networking opportunities, and access to regional and international trade missions.
The enhanced package additionally offers health insurance cover for women and their families at an annual cost of about Sh5,800, unsecured bid bonds of up to Sh10 million processed within one hour, and business training courses aimed at helping entrepreneurs improve financial management and scale their operations.
Edited by John Majau
