Empowering African Businesses

Islamic lender woo Women Owned Businesses in new plan

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GAB has a women specific program called ‘Annisaa’ which is embedded in three pillars – Empower, Educate and Protect that which matters to women most. Annisaa offers unique and innovative financial products designed specifically for women.

Gulf African Bank has embarked on an exciting and innovative journey in partnership with UNWomen to open up business opportunities for WOBs in the GAB supply chain. We seek to be a leader in promoting supplier diversity and inclusion under the Annisaa program, through Women’s Entrepreneurship and Networking Workshops (WENW).

Mombasa 22nd – 23rd March 2017- Gulf African Bank, Kenya’s premier SME Shari’ah compliant bank, today launched its supplier diversity and inclusion initiative which is aimed at raising awareness on procurement opportunities and access to trade finance as well as enhancing the procurement readiness for WOBs in Mombasa, Kenya.

The two-day event, organized in partnership with UN Women brought together WOBs seeking to gain practical skills in submitting responsive bids and network amongst themselves.

The awareness raising and training aimed at ensuring that WOBs also benefit from Gulf African Bank’s unsecured trade finance products. Some of the products that GAB offers include unsecured LPO financing up to 20 million for those with prior performance history and up to 3 million unsecured LPO business for starters

During the workshop, participants expressed interest in doing business with Gulf African Bank and were trained on eligibility requirements and other business related skills.

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Speaking during the official opening, Abdalla Abdulkhalik, Chief executive Gulf African Bank said, “As signatories to the Women Empowerment Principles (WEPs) Gulf African Bank has committed to champion principle 5 of WEPs. We have embarked on this exciting and innovative journey in partnership with UN Women – to become the leader in providing procurement opportunities in the private sector and inspire others follow our example.”

Representing UN Women Kenya Country Office, Ms. Karin Fueg, and the institution’s Deputy Country Director commended the GAB for its leadership, commitment and dedication towards the economic empowerment of women using the Women Empowerment Principles as a framework.

Banu Khan the UN Women Programme Analyst for Women’s Economic Empowerment emphasized the need to continuously enhance the capacity of WOBs so that they can participate and benefit fully from economic opportunities open to them.

The 2-day program included a panel discussion on sourcing from women. The session’s panelists comprised of experts from various sectors such as entrepreneurship, Trade Finance, Taxation and Procurement. They included Mumina Bonaya, Immediate former Chair, Women Enterprise Fund Advisory Board, Wanjiro Gathira, Immediate Chairperson, Uwezo Fund, and Ms. Najma Jabri, the Head of Women Banking at GAB.





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