Access Bank Kenya and the National Bank of Kenya (NBK) have officially rolled out the “W Initiative,” a unified financial proposition aimed at closing the significant funding gap facing women-owned businesses in Kenya.
The launch marks a significant operational shift for the two lenders—both subsidiaries of Access Bank PLC—as they attempt to streamline their product offerings. The W Initiative effectively merges NBK’s existing segmented programs: the conventional NIA banking solution and the Shariah-compliant Almasi Lady product.
By consolidating these under the “W” umbrella, the banks are creating a single ecosystem designed to offer credit, capacity building, and market access to female entrepreneurs.
The Data Problem
The launch comes against the backdrop of stark inequality in Kenya’s lending landscape. Despite women driving a massive share of the country’s entrepreneurial sector, their access to formal capital remains critically low.
According to data cited by the banks during the launch, only 7 percent of women-owned Micro, Small, and Medium Enterprises (MSMEs) in Kenya successfully access formal credit. Furthermore, women-led businesses currently receive just 36 percent of the total lending directed at the MSME sector.
George Odhiambo, Managing Director of the National Bank of Kenya, acknowledged that while women are a “vital force” in the economy, structural barriers persist.
“By jointly deploying this proposition, we are signaling our commitment to dismantling barriers and equipping women with tools that translate ambition into measurable growth,” Odhiambo said.
How the ‘W Initiative’ Works
The W Initiative is not a new concept for the parent company; it is an expansion of a model Access Bank PLC has already deployed across other African markets. The group claims that the initiative has already disbursed $141 million (approx. KES 18.2 Billion) to women across its wider network.
In Kenya, the localized version of the initiative will focus on three main pillars:
- Financial Products: This includes specific “W Cards,” “W Insurance,” and “W Loans” or trade facilities. The banks are positioning these as “derisked” products, likely implying adjusted collateral requirements or terms tailored to smaller enterprises that often lack traditional assets.
- Capacity Building: Beyond just handing over cash, the ecosystem includes non-financial support such as mentorship programs and training to improve business literacy.
- Market Linkages: The initiative promises to facilitate networking opportunities and “exposure trips,” aiming to connect local business owners with wider markets.
A Unified Ecosystem
The timing of this rollout aligns with the broader integration of NBK into the Access Bank family. By unifying the NIA and Almasi Lady products, the banks are likely looking to reduce fragmentation in their portfolio and present a stronger, singular brand identity to the market.
Barbara Barungi, Board Chair for both Access Bank Kenya and NBK, described the move as an intentional shift toward “gender-lens financing.”
“The W Initiative is not just another product—it is a comprehensive ecosystem intentionally built around the realities, ambitions, and economic potential of Kenyan women,” Barungi stated. “When women rise, communities rise.”
While the branding is optimistic, the success of the W Initiative in Kenya will ultimately depend on execution—specifically, whether the “derisking” mechanisms mentioned by the bank actually translate into lower interest rates and easier approval processes for the 93 percent of women currently locked out of the formal credit system.
