SBM, CIC Ink Deal to Support Women in Trade

SBM Bank Kenya and the Centre for the Promotion of Imports (CBI), a program funded by the Dutch Ministry of Foreign Affairs, have signed an agreement to support women-led enterprises. This partnership aims to provide financing and other essential resources to 15 women-led businesses involved in export value chains, enabling them to enter and expand in global markets.

The collaboration between SBM Bank and CBI is designed to tackle one of the most pressing challenges faced by women entrepreneurs in Kenya—access to affordable financing. As part of the deal, the women entrepreneurs will secure financial solutions that facilitate their access to the capital needed to grow their export activities. Beyond financial support, the initiative will focus on equipping women business owners with critical skills such as financial management, export readiness, and access to international market intelligence.

Opening Doors for Women Entrepreneurs

During the announcement, SBM Bank Chief Executive Officer Bhartesh Shah highlighted the importance of empowering women entrepreneurs in the export sector. “Through this partnership with CBI, we are opening new doors for women entrepreneurs to participate in global trade. We are excited about the positive impact this initiative will create in the coming years,” Shah said.

The partnership comes at a time when female entrepreneurs globally face structural barriers to accessing finance, which often limits their potential to scale businesses and access international markets. Women-owned businesses contribute significantly to Kenya’s economy, yet many still face difficulties in obtaining the financing required to compete globally. The deal between SBM and CBI aims to break this barrier, ensuring that women in trade receive the support they need to succeed on the international stage.

CBI’s Role in Women’s Economic Empowerment

The Centre for the Promotion of Imports (CBI) has been instrumental in providing support to businesses in developing countries by enhancing their export capacities. CBI’s Women’s Economic Empowerment project is a five-year initiative, valued at Ksh 282 million (€2 million), designed to increase the participation of women in export trade.

Janneke Vereijken, CBI Programme Coordinator, emphasized the significance of the partnership as a key pillar of CBI’s broader strategy for supporting women entrepreneurs. “Women entrepreneurs often face significant challenges in accessing international markets, and we are delighted to partner with SBM Bank to address these challenges. This collaboration will empower women to unlock their full potential in global trade,” Vereijken said.

Vereijken also explained that the project’s aim is to address the various obstacles that women-led enterprises face in breaking into the export market. The support includes access to information about global trade standards, market trends, and business networks that can provide pathways to international markets. By addressing these challenges, the initiative hopes to enable women-led businesses to establish long-term success in international trade.

The Challenge of Access to Finance for Women Entrepreneurs

Access to finance remains one of the biggest barriers to entry for women in the business world, especially in the export sector. Traditional financial institutions often impose stringent lending requirements, which disproportionately affect women-owned businesses due to factors such as smaller business sizes, lower collateral levels, and systemic gender biases.

By providing tailored financial solutions, SBM Bank is addressing this critical gap, offering flexible and affordable loans to women entrepreneurs who may not have previously qualified for traditional banking products. These financial solutions will help businesses manage the capital needed for production, distribution, and compliance with international standards.

In addition to the financing itself, the partnership focuses on enhancing the financial literacy of women entrepreneurs. Through training programs, participants will learn best practices in financial management, budgeting, and export readiness. This holistic approach ensures that the women not only receive capital but also the skills needed to sustain and grow their businesses.

Empowering Women through Training and Capacity Building

The partnership between SBM Bank and CBI goes beyond offering financial solutions. A crucial part of the initiative involves training and coaching women entrepreneurs to enhance their financial management capabilities and export readiness. This comprehensive support system is vital in preparing women-led businesses for the rigors of international trade.

The coaching component of the partnership will guide entrepreneurs through the technical aspects of accessing international markets, such as export documentation, meeting international quality standards, and managing logistical challenges. These skills are particularly important in navigating the complexities of global trade, which often require a deep understanding of international market regulations, customs procedures, and trade agreements.

Moreover, CBI will leverage its extensive market intelligence to open doors for Kenyan women-led businesses. By tapping into CBI’s established networks and expertise in global trade, the initiative will help entrepreneurs connect with potential buyers and partners across different regions. This direct access to market intelligence and international opportunities will be instrumental in creating new revenue streams for Kenyan businesses, boosting their competitiveness on the global stage.

A Long-Term Vision for Women’s Economic Empowerment

The SBM-CBI partnership is designed with a long-term vision in mind, seeking to drive sustainable economic growth by empowering women entrepreneurs in Kenya. This initiative is particularly timely, given the global emphasis on gender equality and the economic inclusion of women in decision-making roles. Various studies have shown that empowering women in business leads to stronger economic growth, improved social outcomes, and a more inclusive society.

Over the next five years, the project is expected to have a ripple effect, impacting not just the 15 women-led businesses initially involved, but also inspiring other women entrepreneurs across the country. As these enterprises grow, they will create jobs, contribute to Kenya’s GDP, and serve as role models for other women who aspire to enter the export trade.

Additionally, the long-term benefits of this initiative go beyond individual businesses. By enabling women to participate in international trade, the partnership is also contributing to Kenya’s overall economic diversification and resilience. The export sector, particularly in areas such as agriculture, manufacturing, and technology, has the potential to be a major driver of growth in Kenya’s economy, and ensuring that women have an equal stake in this growth is crucial for the country’s development.

Conclusion

The partnership between SBM Bank and CBI marks a significant milestone in supporting women entrepreneurs in Kenya. Through a combination of affordable financing, skills training, and access to international markets, the initiative will empower women-led businesses to thrive in global trade. By breaking down the barriers that have historically limited women’s participation in exports, this partnership is setting the stage for a more inclusive and prosperous future for Kenya.

As the program takes shape, the 15 women-led enterprises involved will not only have the opportunity to grow their businesses but also to serve as trailblazers for other women entrepreneurs. This initiative is more than just a financial agreement; it is a bold step toward economic empowerment, gender equality, and sustainable development for women in Kenya and beyond.