Standard Chartered Bank has teamed up with Safaricom, Jubilee, Mastercard, and KEPSA in a groundbreaking collaboration called SC WIN to address the structural challenges faced by women in scaling up their businesses. Through this initiative, women entrepreneurs will gain access to invoice discounting, capital, insurance, investment solutions, and global networking opportunities, allowing them to thrive and form a supportive community of like-minded entrepreneurs.
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Kariuki Ngari, CEO of Standard Chartered Bank Kenya, highlighted the bank’s commitment to diversity and inclusion by growing the base of women and youth suppliers. In the first half of 2023, the bank’s spend with diverse suppliers increased to 8.0% from 2.0% in 2020, with the aim of surpassing 30.0% by the end of the year. Additionally, more than half of the bank’s employees in Kenya are women, and 50.0% of the Executive Management team comprises women. The gender parity on the Board has also significantly improved, rising from 23.0% in 2019 to 45.0%.
The SC WIN offering is designed based on insights from women entrepreneurs, addressing the specific challenges they face in accessing credit lines, market linkages, and business growth models. By providing a comprehensive and collaborative business ecosystem, Standard Chartered aims to empower women entrepreneurs to flourish in both local and global markets.
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SC WIN encompasses capital, investment, and protection solutions tailored for optimal benefit. This includes trade solutions, targeted insurance covers, and foreign currency mutual fund investment options, among others. Additionally, women entrepreneurs involved in SC WIN will receive personalized training packages and mentorship, dedicated relationship managers, and access to the bank’s extensive global banking network spanning Asia, the Middle East, and Africa.
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