NAIROBI, Kenya, May 25 – Gulf African Bank is seeking to increase the number of women vendors’ customers from the current 4.4 percent to 20 percent by the end of this year.
Head of the Bank’s Women and Youth Banking Najma Jabri says the bank aims to open business opportunities for Women-Owned Businesses in the bank’s supply chain.
The initiative, which is in partnership with UN Women, additionally seeks to open up procurement opportunities to Women-Owned Businesses while seeking to empower them.
Kenya National Bureau of Statistics reveals that women are locked out of procurement opportunities although over 60.7 percent of all unlicensed establishments are owned by women.
“With this move, we are hoping to become the leader in providing procurement opportunities in the private sector and inspire others to follow our example,” Jabri said.
The company is also offering unsecured LPO financing to women of up to Sh20 million for those with prior performance history and up to Sh3 million unsecured LPO business for starters.
Jabri was speaking during a workshop organized by the company to promote supplier diversity and inclusion, while also promoting their Annisaa program which seeks to empower and educate their women clientele.
“As signatories to the Women Empowerment Principles (WEPs) Gulf African Bank has committed to champion principle 5 of WEPs. We have embarked on this exciting and innovative journey in partnership with UNWomen – to become the leader in providing procurement opportunities in the private sector and inspire others follow our example,” said Mr. Abdalla Abdulkhalik, MD Gulf African Bank.