Access Bank Kenya and NBK Launch W Initiative to Expand Financing for Women-led Businesses

By Icon Radio Team — December 4, 2025

Access Bank Kenya and the National Bank of Kenya (NBK) have unveiled the W Initiative, a new financial ecosystem designed to expand access to funding and support for women-backed businesses across the country.

The program, backed by Access Bank’s Africa-wide network, aims to deepen financial inclusion, unlock opportunities, and accelerate the growth of women entrepreneurs in Kenya. Already, the initiative has disbursed $141 million to women across the wider Access Bank PLC network — a sign of its growing impact on the continent.

In Kenya, the W Initiative consolidates NBK’s existing women-focused programs — NIA (conventional banking) and Almasi Lady (a Shariah-compliant solution) — into a single, inclusive platform. The move marks a significant step forward in advancing gender-lens financing and strengthening the role of women-led businesses in Kenya’s economic development.

Speaking during the launch, Barbara Barungi, Board Chair of National Bank of Kenya and Access Bank Kenya, emphasized that the W Initiative is more than just a financial product.

“The W Initiative is not just another product — it is a comprehensive ecosystem intentionally built around the realities, ambitions, and economic potential of Kenyan women. When women rise, communities rise, and tonight marks the beginning of many powerful stories yet to be written,” she stated.

A Holistic Support System for Women Entrepreneurs

The W Initiative offers a tailored suite of financial products including W Cards, W Insurance, and W Loans and Trade Facilities, supported by strategic partnerships aimed at derisking women-owned SMEs. In addition to financing, it provides critical non-financial support such as:

• Capacity-building programs

• Mentorship and exposure trips

• Market linkages

• Networking opportunities

• Personalized banking experiences

These services are intended to address not only the financial but also the structural and knowledge gaps that often hinder women-owned businesses from scaling.

George Odhiambo, Managing Director of National Bank of Kenya, reaffirmed the bank’s commitment to SMEs and the importance of investing in women:

“Women entrepreneurs are a vital force within Kenya’s economy. By jointly deploying this proposition, we are signaling our commitment to dismantling barriers and equipping women with tools that translate ambition into measurable growth.”

Addressing a Critical Financing Gap

Despite the steady rise of women-led enterprises in Kenya, access to formal credit remains a major challenge. Current data shows that only about 7% of women-owned MSMEs can access formal financing, with women-led businesses receiving just 36% of total MSME lending, even though they represent a significant portion of the entrepreneurial sector.

These figures highlight the urgent need for comprehensive solutions that move beyond traditional lending models. The W Initiative targets this gap by combining financing with business support, mentorship, and community networks — offering women a full ecosystem to grow, compete, and thrive.

Its rollout in Kenya builds on Access Bank’s proven model across Africa, adapting it specifically to the realities and ambitions of Kenyan women at every stage of their entrepreneurial journey.

This initiative marks a bold new chapter for women-led enterprises in Kenya — one where access, opportunity and empowerment come together to unlock the next wave of economic transformation.

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