Women Graduate after Undergoing Financial Literacy Training

Seventy-four women entrepreneurs in Kwale County are now better equipped to steer their businesses towards success after successfully completing a comprehensive financial literacy and entrepreneurship training program. The graduation ceremony, held as part of Equity Bank's enhanced Fanikisha initiative, marked a significant step in empowering local women with vital business acumen. The graduates, who completed the Equity Group Foundation’s Financial Literacy and Entrepreneurship training, received instruction in essential skills such including budgeting, debt management, understanding banking products, and digital literacy. This training is designed to equip them with the knowledge needed to make informed financial decisions, manage their enterprises more effectively, and unlock further growth opportunities. Kwale County Governor Fatuma Achani lauded Equity Bank's commitment to women's empowerment during the recent Fanikisha Regional Customer Event in the county. “The support goes beyond just financing; it empowers women with business and investment mentorship. This is key to sustaining families and creating employment in Kwale,” Governor Achani stated, emphasizing the ripple effect of such programs on the community. Moses Nyabanda, Managing Director of Equity Bank Kenya, underscored the strategic importance of financial education for entrepreneurs. “Fanikisha is not just about lending; it’s about offering a structured, tiered pathway that provides women entrepreneurs with the tools to succeed, including mentorship, financial literacy, and business management training,” Nyabanda remarked. The financial literacy training is a cornerstone of Fanikisha, Equity's comprehensive ecosystem designed to dismantle historical barriers faced by women entrepreneurs, such as limited access to finance, business networks, and market opportunities. Since its inception in 2007 in partnership with the United Nations Development Programme (UNDP), Fanikisha has trained over 2.5 million women across Kenya and disbursed over Kshs 565 billion to support women-led enterprises. Dr. Silpah Owich, Head of Women and Youth Banking at Equity Bank Kenya, reiterated the holistic nature of the program. “Fanikisha is a comprehensive platform, and it offers more than just access to capital. It’s a gateway to business training, mentorship, and a supportive community that helps women succeed,” Dr. Owich added. The newly minted graduates are poised to leverage their enhanced skills to overcome common challenges, similar to success stories from other Fanikisha beneficiaries. Entrepreneurs like Susana Musomba, a free-range chicken trader, and Beth Wanjiku, a school uniform distributor, have previously attested to the program’s positive impact in overcoming hurdles such as limited access to affordable credit and working capital. Equity bank’s Africa Recovery and Resilience Plan aim to support 100 million customers by 2030. The focus remains on empowering women-led businesses across the continent to not only survive but thrive in an increasingly competitive economic landscape.