Chase Bank receives Ksh 2.5 billion to lend to Women owned SMEs.

Chase Bank receives Ksh 2.5 billion to lend to Women owned SMEs.
Press Releases  |  
Wed, 21 Oct 2015

October 16, 2015…Chase Bank has received 2.5 billion Kenya Shillings to lend to women owned SMEs seeking to expand and grow their businesses.

In partnership with International Finance Corporation (IFC) and the 10,000 women initiative by Goldman Sachs, Chase Bank received a credit line through the Women Entrepreneurs Opportunity Facility (WEOF) to disburse (25 million dollars) 2.5 billion Kenya Shillings to Kenyan women entrepreneurs. To date, Chase Bank Kenya has already lent (10 million dollars) 1 billion Kenya Shillings to women-owned SMEs, most of which have been through collateral-free loans. 

The funds are available to women run SMEs that have been in operations for two years. The bank defined these SMEs as a business that is100% woman owned, 51% shareholding by a woman or in the case of more than 4 directors, the woman has at least 20% shareholding. The loan amount ranges from (10,000 dollars) 1 million Kenya Shillings to (1,000,000 dollars) 90 million Kenya Shillings with a repayment period of up to 5 years on reducing balance. The loans are open to non-Chase Bank customers across any business segment.

A unique benefit of these loans is that they provide the women entrepreneurs’ with access to funding, training and networking opportunities. The partnership offers access a pool of global beneficiaries who can further enhance potential businesses partnerships for women entrepreneurs seeking to expand into new markets.

Due to Chase Bank’s positioning as a leading financier for SMEs as well as the women financial markets space, the bank was selected by IFC to actualize the 1000 women dream in Kenya. Over and above the credit line to Chase Bank, IFC has partnered to conduct market assessment and train staff. This strategic partnership will ensure that global technical expertise is passed on to beneficiaries.

“This partnership will ensure the women entrepreneurs benefit from financial advisory services that will positively impact their businesses and enable them to achieve what matters most to their businesses’” Shared Paul Njaga, CEO Chase Bank.

According to research by IFC, only 7% of women-owned SMEs in Kenya have access to formal credit.  In order to enable more women to access the capital they need to grow their businesses, WEOF is collaborating with Chase Bank Kenya that aims to more than triple their women-owned SME portfolio by 2018. 

This strategic partnership further articulates the announcement in July 2015 at the Global Entrepreneur’s Summit that Chase Bank will commit over Ksh.60 Billion ($600M) over the next three years to lend to entrepreneurs in the Small and Medium Enterprise sector or SME with a bias to women and youth segments.

About Women Entrepreneurs Opportunity Facility

In 2014, Goldman Sachs 10,000 Women and International Finance Corporation (IFC) created the first-ever global finance facility dedicated exclusively to women-owned small to medium enterprises (SMEs). Together Goldman Sachs 10,000 Women and IFC have provided anchor investments of more than $150 million in the Women Entrepreneurs Opportunity Facility (WEOF).


For further information, please contact:

Magdalene Mulandi,

Head of Brand, Chase Bank


Kevin Kaburu,

Head of Marketing, Chase Bank


Naomi Thoiya

Account Manager, Avid PR


About Chase Bank

Chase Bank (K) Ltd was incorporated in 1995. The Bank received awards for being the Best SME Bank 2013/2014, Fastest Growing Bank in Kenya in 2009/2010/2013, CEO of the Year 2015, as well as a special award for product innovation, at the Banking awards 2011/2013/2015 in recognition for their role in creating innovative products for the SME market.

Chase Bank places a keen focus on the SME and the provision of innovative products for this ever-growing market. The Bank, modeled around relationship banking provides its customers with value added services like Bank Assurance, Bank Brokerage, and off shore investment opportunities with the aim of improving their overall customer experience.