Women Enterprise Fund (WEF) was conceived by the Government of Kenya in 2006 and officially launched in 2007. The principal objective of the fund is economic empowerment of women. Women Enterprise Fund loans reach the target beneficiaries through our partner financial intermediaries and directly through Constituency Women Enterprise Scheme (C-WES).
The fund will enable the government realize the 3rd Millennium Development Goal (MDG)on “gender equality and empowerment of women”. In recognition of the critical role women play in socio-economic development, the WEF has been identified as a flagship project under the social pillar in the Vision 2030. It is expected that the fund will play a catalystic role in mainstreaming women in the formal financial services sector.
Although women constitute 52% of the total Kenyan population, majority of them have been excluded from the formal financial services – for example, few have bank accounts, can access loans, money transfer services, etc. The rural women are more disadvantaged than their urban counterparts.
The fund is designed to address the perennial challenges women face in their desire to venture in income generating activities (enterprise development), namely:
i. Cultural factors – Our society does not allow women to own assets which are required by banks to access credit. Some widows are disinherited by in-laws.
ii. High transaction costs – a) Interest rates and bank charges.
b) Access costs – transport costs.
iii. Myths about banks – Few banks have outlets in the rural areas. The society’s negative perception about banks e.g. repossession of assets incase of default, not “poor” friendly, etc.
For those already in business, they face the following challenges that stifle their growth and survival, e.g.:
Marketing – Lack of market information, leading to exploitation by middlemen, high transport costs because of poor roads e.t.c.
Low standards of products – They use rudimentary tools and technology making their products uncompetitive.
Affordable and suitable premises – Business premises in suitable locations are too expensive.
Vision
To socially and economically empower Kenyan women entrepreneurs for economic development.
Mission
To mobilise resources and offer access to affordable credit and business support services to women entrepreneurs.
Core Values
- Integrity
- Team Work
- Innovation
- Courage
- Respect for Diversity
Contacts
HEAD OFFICE
P.O Box 17126-00100, NRB ,
NSSF Building, Block A, Eastern Wing, 11th Floor,
Tel. +254 020 272798/2713067, 2727980-4
Fax +254 020 2715258,
Mobile: +254 714 606 842-7
Email:
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