NCBA Bank and the African Guarantee Fund (AGF) have reaffirmed their commitment to financing women-led businesses through the NCBA AFAWA Women Small and Medium Enterprises (WSMEs) Acceleration Programme, targeting USD5 million in funding for participating enterprises.
The commitment was announced during the programme’s final investment pitching event, where 32 women entrepreneurs presented their business expansion plans to an investment panel comprising representatives from NCBA, AGF, Unga Group and the SME Support Centre.
The initiative forms part of the Affirmative Finance Action for Women in Africa (AFAWA), an initiative by the African Development Bank aimed at closing the estimated USD42–49 billion financing gap facing women entrepreneurs across Africa.
The acceleration programme, delivered in partnership with the African Guarantee Fund, equips women-owned businesses with mentorship, business development support, market access opportunities and financing solutions to help them scale sustainably.
According to NCBA, the programme has supported 82 women-owned SMEs across two cohorts. Businesses represented span Kenya’s agricultural value chains, including cereals, poultry, coffee, avocados, mushrooms, bananas, fish farming, animal feeds, macadamia, seedlings and value-added food processing.
The bank said the programme has already unlocked USD1.365 million in financing, with the broader goal of mobilising USD5 million for participating enterprises.
Linda Onyango, Chief Executive Officer of the SME Support Centre, said the programme was designed to prepare entrepreneurs for long-term business success rather than simply improving access to credit.
“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.”
Speaking during the event, Dennis Njau, NCBA Group Director for Retail Banking, said the initiative aligns with the bank’s “Banking on Belief: Empowering Ambitions” strategy.
“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.”
Ann Mwangi of the African Guarantee Fund said the programme was intentionally designed to create a pipeline of investment-ready women-owned businesses capable of accessing formal financing.
Beyond financing, the initiative also supports NCBA’s “Change the Story” agenda by addressing both financial and non-financial barriers that have historically limited the growth of women-owned enterprises.
The programme brings together the African Guarantee Fund, AFAWA, the SME Support Centre, Unga Group and NCBA Group, combining business acceleration, mentorship, market linkages and financial solutions to strengthen women-led enterprises across Kenya.
NCBA said the partnership reflects the Ubuntu philosophy of collaborative development, creating an ecosystem that enables entrepreneurs to access knowledge, networks and capital needed for sustainable growth.