SBM Bank Kenya has officially launched the Smart Biz Lab Program, a transformative initiative designed to empower over 500 women entrepreneurs across the country. Developed in partnership with Tactive Consulting, the program aims to provide immersive training and coaching sessions focused on financial literacy, business acumen, and management skills.
The initiative is part of SBM’s commitment to fostering inclusive economic growth by equipping women with the tools needed to scale and sustain profitable businesses. It follows a pledge made by SBM Bank Kenya’s Board Chairperson, Shakilla Jhungeer, during International Women’s Day celebrations on March 7th, where she committed to supporting 500 women entrepreneurs in the Small and Medium Enterprise (SME) sector.
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Speaking during the launch, Shakilla emphasized the importance of financial empowerment in achieving an equitable business landscape.
“Financial literacy and business management skills are critical enablers for women-led enterprises to thrive. By imparting this knowledge, we are empowering a key segment of our society to unlock their full economic potential. We are glad to partner with organizations such as Tactive Consulting, which shares in our vision of empowering entrepreneurs, particularly women and youth. As a signatory to the UN Women Empowerment Principles, we at SBM are steadfast in our pursuit of promoting gender equality and creating opportunities that empower women to thrive in business, ultimately contributing to the socio-economic fabric of our nations.” she stated..
The Smart Biz Lab kicked off with a pilot training session yesterday, marking the beginning of a series of capacity-building engagements planned for 2025. Through its collaboration with Tactive Consulting, the bank will facilitate tailored training followed by mentorship and coaching to nurture business strategy and innovation among women-led enterprises.
According to Kaye Matereke, Senior Partner at Tactive Consulting, the program’s first cohort will include 20 women-owned SMEs.
“Our plan is to initially onboard 20 women-owned SMEs over the course of this training, providing them with actionable knowledge and tools to sustainably grow their ventures. Beyond the training, we will offer continued mentorship and coaching to ensure these female entrepreneurs can realize their full potential and access new markets, leveraging SBM’s networks and value proposition.” he said.
This latest initiative builds on SBM Bank’s longstanding efforts to promote gender equity and financial inclusion. In 2024, the bank partnered with the Centre for the Promotion of Imports (CBI), a Dutch Ministry of Foreign Affairs-funded program, to help women gain export readiness. So far, 15 women have completed specialized training and are preparing for the next phase to expand into international trade.
Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.