20.1 C
Kenya
Sunday, November 17, 2019
  • INVESTMENT

KCB disburses Sh. 7.1 billion loans to 1,400 women

Must Read

Bill Gates tops Jeff Bezos as world’s richest man

Bill Gates and Jeff Bezos: On Friday, Gates surpassed Amazon CEO Jeff Bezos to reclaim the distinction of richest...

Young millionaire who turned down Harvard sponsorship to live his tech dream in Kenya

Young Millionaires in Kenya: Orphaned at 10, Mubarak Muyika has been doing business since his school days at Kamusinga...

State to buyout KQ, delist it from NSE

KQ Buyout: The national government is set to buyout the troubled national carrier Kenya Airways. The government will buy...

KCB Loans: KCB Group is seeking to deepen its new women proposition, committing billions of shillings towards funding women owned and women run enterprises.

The Bank said the drive is meant to strengthen its diversity and inclusivity focus as part of its sustainability agenda by simplifying financial inclusion for women.

The programme dubbed Women Value Proposition has seen the Bank disburse loans worth Kshs 7.1 billion to 1,400 women to date, KCB said in its current Sustainability Report for 2018. It is aimed at increasing credit facilities to women alongside, providing them with both technical and non-financial support.

The initiative is in line with KCB Sustainability 10-point action plan on Diversity and inclusion. This pillar aims to incorporate gender diversity as part of its strategic initiative to ensure that we encourage more women to take up key roles in business ventures.

Most Profitable Bank in Kenya: KCB beats Equity Bank in profit war

“KCB is committed to making financial services more accessible and improving financial literacy. We are exploring possibilities that would reduce inequalities within the society and at the enable their economic development,” said Joshua Oigara, KCB Group CEO and MD.

Within the program, the women go through a financial literacy training and capacity-building program in order to sensitize them on financial empowerment before the disbursement of loans. The Bank attributes the 100% repayment rate success to the financial education foundation set during the empowerment program.

The Bank’s Sustainability Agenda is aimed at further helping drive the Sustainable Development Goals, which are meant to eradicate an array of issues that include reducing poverty, hunger, disease, gender inequality, and access to water and sanitation.

KCB Group takes great pride in being among the major Kenyan corporates who monitor and report the progress of their sustainability initiatives. In period under review, the Bank recorded significant milestones in key areas among them a 23% reduction in its carbon footprint that is tracked and measured on a quarterly basis in all its operations.

According to the report, the value of facilities that have undergone Social and Environmental Due Diligence (SEDD) Assessments amount to KShs. 126.7Billion. This is part of the bank’s commitment to enhance responsible lending and green financing in the fight towards climate change, address governance issues as well as society considerations.

Screening is done to avoid and manage loans with potential social and environmental risks by conducting social and environmental due diligence prior to loan disbursement as well as addressing remedial measures that have been documented in the process.

Under this pillar, KCB has continually committed to contribute to the green economy by deepening its focus on funding projects that have a positive environmental and social impact in the East African industry and beyond. The Bank is collaborating with other industry players to raise the first Green Bonds in the region for environmentally friendly projects by the year 2020.

In addition, KCB Group has been at the forefront of driving Kenya’s banking sector to adopt and endorse the United Nations Environmental Programme – Finance Initiative (UNEP-FI) Principles for Responsible Banking during the launch in September in New York at the UN General Assembly to be presided over by the UN Secretary General, Antonio Guterres. KCB Loans.

- Advertisement -

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

125,634FansLike
11,142FollowersFollow
7,742FollowersFollow
192SubscribersSubscribe

Latest News

State to buyout KQ, delist it from NSE

KQ Buyout: The national government is set to buyout the troubled national carrier Kenya Airways. The government will buy...

Young millionaire who turned down Harvard sponsorship to live his tech dream in Kenya

Young Millionaires in Kenya: Orphaned at 10, Mubarak Muyika has been doing business since his school days at Kamusinga High School in Bungoma County. His...

State to buyout KQ, delist it from NSE

KQ Buyout: The national government is set to buyout the troubled national carrier Kenya Airways. The government will buy out Air France-KLM, local banks...

Revealed: Kenya pays Uhuru’s mom over Sh. 500,000 monthly salary

Mama Ngina Salary: It has now emerged that taxpayers have been paying mama Ngina Kenyatta a salary of over Sh. 500,000 every month. According to...

Co-op Bank’s net profit soars to Sh. 11 billion in nine months

Co-op Bank 3rd Quarter Results: The Co-operative Bank Group has posted Sh. 15.45 billion profit before tax for the third quarter of 2019 compared...

More Articles Like This

- Advertisement -
%d bloggers like this: