The Standard Chartered Bank in partnership with iBizAfrica Centre of Strathmore University is walking the talk with regards to financial inclusion. The Standard Chartered Women in Technology Incubator Kenya is Africa’s leading incubator programme for female founded businesses, aligning with calls for more diversity in technology, entrepreneurship and for more opportunities for women to develop entrepreneurial and leadership excellence.
In line with its Futuremakers initiative, the bank will initially provide $50,000 (KES 5M) revolving funds that will enable Women in Technology (WiT) alumni to access interest-free and collateral-free loans. The loans will be capped at KES 100,000 for working capital and KES 200,000 for capital expenditure with a 12-24 month repayment period.
Speaking during the launch Standard Bank Kenya and East Africa CEO Kariuki Ngair said:
“Going forward, we remain committed to designing products and partnerships that empower and support small business and especially women led businesses through the Standard Chartered Women in Technology programme.”
The program combines world class startup support with local and international experience to provide a holistic startup incubation program focusing on immersive learning, mentorship and coaching, seed financing and business to business linkages for high potential startups tackling the continent’s most relevant challenges.
