Diamond Trust Bank (DTB) has launched a unique account for women running Small and Medium Enterprises. Dubbed Zawadi, the account is designed to enable women to access favourable credit terms to grow their businesses from one stage to the next.
The account was launched at a financial literacy forum in Nakuru attended by more than 3,000 women owning and running SMEs. The bank also introduced a special account for the small savings groups commonly referred to as chamas.
The SMEs that open either of the accounts with DTB will be eligible for a credit facility after 6-months to enable them to grow their businesses accordingly.
Speaking at the SME engagement, DTB Director Sales Dr. Kennedy Nyakomitta said: “The Zawadi account is specifically tailored to enhance Financial Literacy for women-owned businesses and inculcate necessary skills required to run their businesses effectively to enable them to take advantage of the financial opportunities offered by banks.”
He added that: “In addition to the Zawadi account, we have also launched the Chama account to encourage groups and collectives to venture into enterprise development, with the help of DTB. This in line with our ongoing expansion efforts across the country, as we seek to be more present with our communities” he added.
The financial literacy training intends to build the SMEs capacity in financial and human resource management, strategic planning, marketing and communication to enable them do business better and especially attract the kind of finances they need to grow.
The traders will also receive training on the various financial products and services available to enable them grow their business, from DTB.