New programme backs women-led businesses with Sh645m pledge
Business
By
James Wanzala
| Jul 21, 2026
NCBA Bank and African Guarantee Fund (AGF) have reaffirmed their commitment to empowering women entrepreneurs in Africa with $5 million (Sh645 million).
The commitment was made during the recent final investment pitching event of the NCBA Affirmative Finance Action for Women in Africa (AFAWA) Women Small and Medium Enterprises (WSMEs) Acceleration Programme.
AFAWA is a pan-African initiative by the African Development Bank, designed to bridge the estimated $49 billion (Sh6.3 trillion) financing gap facing women entrepreneurs.
The acceleration programme ran in partnership with AGF is designed to equip women-owned businesses with the skills, networks and access to finance needed to achieve sustainable growth for their enterprises.
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The two-day pitch session brought together 32 women entrepreneurs who presented their business growth plans and funding requirements before an investment panel comprising representatives from NCBA, AGF, Unga Group and the SME Support Centre.
The event marks the culmination of an intensive business acceleration journey that has prepared participating enterprises to become investment-ready and unlock growth capital.
Women-owned businesses play a vital role in Kenya’s economy, accounting for an estimated 48 per cent of the country’s micro, small and medium-sized enterprises (MSMEs), according to a joint report by the International Finance Corporation and the World Bank.
Despite women-led enterprises contributing to employment and economic activity, many of them still face barriers to accessing finance, markets and business development support that limit their ability to scale.
The NCBA AFAWA WSMEs Acceleration Programme was established to bridge these gaps through an integrated model that combines business development, mentorship, coaching, market exposure and financing.
Since its inception, the programme has supported 82 women-owned SMEs across two cohorts. The current cohort, with an average participant age of between 38 and 40 years, represents a diverse cross-section of Kenya’s agricultural economy, spanning value chains including cereals, pulses, fresh fruits and vegetables, avocados, mushrooms, poultry and eggs, tomatoes, meat, coffee, animal feeds, macadamia, bananas, fish, seedlings, rabbits and value-added food products such as cakes.
The programme aims to unlock $5 million (Sh645 million) in financing for participating businesses, with $1.365 million (Sh180 million) already unlocked, demonstrating the impact of pairing business capability development with tailored financial solutions.
SME Support Centre Chief Executive Officer Linda Onyango said the programme was designed to ensure entrepreneurs leave with far more than improved access to finance.
“Our role has been to equip these women entrepreneurs with the practical skills, confidence and strategic mindset needed to build resilient businesses. Throughout the programme, we’ve worked closely with them to strengthen their governance, financial management, business planning and pitching capabilities so that when they seek investment, they are truly investment ready,” said Ms Onyango.
NCBA Group Director Retail Banking Dennis Njau said the programme reflects the bank’s strategic commitment to Banking on Belief: Empowering Ambitions, recognising that every entrepreneur deserves the opportunity to realise their potential regardless of the circumstances they face.
“At NCBA, we believe every ambition matters. Through our Banking on Belief strategy, we are committed to supporting entrepreneurs with not only the capital they need to grow, but also the skills, networks and confidence to build resilient businesses. This programme demonstrates our belief that when we invest in people and communities, we unlock transformative impact,” said Njau.
Ann Mwangi, who represented AGF, said the programme was intentionally designed to prepare women entrepreneurs to become investment-ready and confidently access formal financing.
“Our goal is to build a pipeline of bankable women-owned businesses that are ready to access financing through our partner, NCBA. Together with our anchor partner, Unga Group, we have designed this programme to equip entrepreneurs with the skills, confidence and business readiness needed to be viewed as credible borrowers and position themselves for sustainable growth,” she said.
The programme is delivered through a strategic partnership bringing together complementary expertise from the AGF, the Affirmative AFAWA, SME Support Centre, Unga Group and NCBA Bank.