Kenyan’s DTB Rolls Out a Dedicated Account for Women-owned SMEs
Diamond Trust Bank (DTB), an African banking group with operations in Burundi, Kenya, Tanzania, and Uganda, has rolled out Zawadi, a dedicated bank account for women running Small and Medium Enterprises in Kenya. The account is intended to provide women entrepreneurs with access to favorable credit terms as their businesses progress from one stage to another.
The special account was launched at a financial literacy forum in Nakuru attended by over 3,000 women who own and run small and medium-sized businesses. The bank also established a special account for the small savings groups known as chamas in the east African country.
After 6-months, SMEs who open either of the accounts with DTB will be eligible for a credit facility to help them grow their businesses.
Speaking at the SMEs engagement event, Kennedy Nyakomitta, DTB Director of Sales says “The Zawadi account is specifically tailored to enhance Financial Literacy for women-owned businesses and inculcate necessary skills required to run their businesses effectively to enable them to take advantage of the financial opportunities offered by banks.”
Nyakomitta further explained that “In addition to the Zawadi account, we have also launched the Chama account to encourage groups and collectives to venture into enterprise development, with the help of DTB. This is in line with our ongoing expansion efforts across the country, as we seek to be more present with our communities.”
The financial literacy forum, which provides various types of financial literacy training to participating Kenyan business women, aims to increase the capacity of SMEs in financial and human resource management, strategic planning, marketing, and communication, allowing them to do business better and attract the type of funds they require to grow.
DTB will also provide participants with training on the various financial products and services available to help them grow their businesses.