Family Bank’s Women Banking Initiative Celebrated with Prestigious Award

Family Bank has been honored with the Access to Funding Award at the inaugural Banking on Women Awards, recognizing its innovative Queen Banking product launched just a year ago. This initiative aims to empower women entrepreneurs by providing tailored financial solutions that address their specific needs.

Since its launch, the Queen Banking program has successfully onboarded over 50,000 women customers, a testament to Family Bank’s commitment to enhancing financial inclusion and economic independence for women in Kenya.

“The award reflects our dedication to transforming the financial landscape for women,” said Rose Kamene, Head of Women Banking at Family Bank. “With Queen Banking, we strive to offer not just financing, but also opportunities for education and networking, ensuring women entrepreneurs can connect and support one another.”

The Queen Banking initiative encompasses a comprehensive range of services designed to meet the diverse needs of women, promoting both individual and business growth. Family Bank established a KES 50 billion fund specifically to support this initiative, and so far, over KES 11 billion has been accessed by women to enhance their financial resilience and build sustainable businesses.

Kamene emphasized the importance of recognizing the untapped potential of women entrepreneurs, stating, “This award showcases the impact of our efforts and motivates us to extend our reach to even more women across the country.”

Queen Banking provides a variety of financial products, including secured and unsecured loans through the Biashara Boost program for working capital and educational infrastructure, with financing options covering up to 95% of school bus costs. Additional offerings include unsecured loans for agri-business inputs, trade finance solutions, lifestyle benefits through partnerships, savings and investment opportunities, as well as customized insurance solutions.

The Banking on Women Awards aim to inspire financial institutions to develop innovative products that support women’s financial empowerment, further promoting economic independence across the region. With its award-winning initiative, Family Bank is poised to lead the charge in fostering a more inclusive financial environment for women entrepreneurs in Kenya.