DADA by Stanbic Bank.
  1. What is the background and the inspiration behind DADA Women banking?
  • DADA is more than banking. It’s a solution built on an understanding that the woman of today not only needs customized financial solutions, but also support that enables her to learn, connect and grow in all aspects of her life.
  • The inspiration behind rolling out DADA is simple, women are a key pillar in our society and as a Kenyan bank and we understand the Kenyan woman.
  • Kenyan women have an entrepreneurial spirit, they are progressive, they rely on and encourage each other especially during tough times
  • Today, women are earning more and spending more, therefore making them a profitable SME customers group.
  • Women are more cautious investors, loyal, have better loan payback rate and take a long-term view
  • A deep dive into the numbers present interesting nuggets;
    • Micro and SMEs contribute upwards of 40% of GDP in Kenya.
    • Women-led enterprises from above constitute about 39%, with partially owned at 41%
    • 60% of informal Micro and SMEs are owned by women.
    • Studies have shown that the unmet credit demand for formal, women-owned SMEs stand at US $ 2.7 billion.
    • 82% of total savings in Kenya are by women.


  1. How long have you been in operations, and how has the journey been since you started operations?
  • DADA has been in operation for the last one year, we rolled out the proposition in June 2019.
  • The DADA proposition is not just about the financial offering; we are very proud of the non-financial benefits we offer. DADA is more than banking as the intent is to establish a community of women who are working together to grow themselves, their communities and our nation Kenya. By joining DADA individuals, women in business and groups will not only fulfil their financial needs to borrow, protect those they love, save and invest their hard-earned money but they will also get the added benefit of meeting likeminded women, networking, engaging and learning from each other and ultimately grow themselves and their business.
  • When talking to women in Kenya, they told us a number of things that worry them, they include the wellbeing of their families, good health, the search of a financial and business partner, financial and emotional support as well as cultural barriers.
  • Based on these insights, Stanbic bank rolled out non-financial programs skewed to the following;
    • Education and information through participation in programs and forums that provide women with the tools needed to grow and succeed her business
    • Networking, Mentorship opportunities by participating and connecting in meaningful networking engagement forums and access to markets.
    • Wellness through access to wellness sessions conducted by professionals that may be forums and talks or health screening.


  • To date, we have interacted with Over 7,000 women since July 2019.  This is through, DADA Seminars, Events, Trainings, Market Storms and one-on-one sessions. These are the non-financial benefits of being part of DADA.


  • Through various physical and virtual training sessions, we have managed to facilitate capacity building sessions for 325 women run businesses since August 2019. These sessions have been facilitated in partnership with IFC, Invest in Africa PTS Africa, Valentis Health as well as Financial Fitness Academies by Stanbic The capacity building initiatives have covered:
    • Tendering empowerment training designed to engender inclusivity and build capacity in the procurement process as Stanbic Bank aims to shift the dial by getting more women run businesses as suppliers as well as enable them to get listed and active as suppliers amongst top corporates.
    • Financial management training designed to help women better manage cash flows, run and report business outcomes. These trainings helped women understand the importance of good record keeping and unpack what financial institutions such as Stanbic Bank look for when considering extending loans to them.
    • Business resilience training designed to help the women run businesses respond during this time of COVID-19, rethink their business models and redesign in order to win now and into the future.
    • Wellness sessions that focus on health matters, emotional intelligence and wellbeing with the intent of ensuring the women are geared with information and insights to keep them positive and focused.


  1. What are some of the challenges you have encountered along the way, or that you still encounter which you think can be addressed so as to help you extend your reach?
  • In June 2019, Stanbic Bank Kenya launched the DADA proposition and declared its intention to lend Ksh 20 billion ‘women in business’ by 2021.
  • From our interactions with the women entrepreneurs, we have drawn some key learnings. A significant number of the women who approached us faced the following challenges;
  • Run their businesses in the ‘Cottage Industry’ bracket and were not formalised.
  • Did not have adequate record keeping.
  • Found it difficult to separate business and personal finances.
  • Did not fully understand their financial position.
  • At times, were technically insolvent, without know it.
  • Based on this analysis, we realised that extending financing to these businesses would put them at a disadvantage.  This brought into prominence our “Non-financial Services” offering which includes capacity building and financial literacy for women in business.
  • We identified the above gaps and sought to ‘Identify, Equip and Help Thrive’ such businesses.  In cases where we were not able to lend on account of the above, we started a journey with the women in business to make them ‘Business-Ready’.  This ‘Capacity building and financial literacy’ includes:
  • “The Need for a Solid Business Plan”
  • “Understanding your business”
  • “Surviving business during hard times”
  • “Candid Conversations on Tendering”
  • “Implication of Tax on your Business”
  • “Make yourself ‘tax-visible’ to achieve growth”
  • “On-going regulatory changes and their implication”
  • Once equipped with the information above, we are able to support them financially to grow their business and enable them meet the demand.


  1. What are some of the milestones you have achieved that you are most proud of?
  • DADA has come a long way since the official launch in 2019. As we celebrate our one-year anniversary of uplifting and empowering women across the country to achieve their goals, we are excited to roll out even more thrilling activities for our DADA’s this year.
  • Through the DADA proposition we have managed to interact with over 7,000 women, onboarded over 5,000 women, and issued loans worth over KES 1 Billion. With the already established KES 20 billion fund dedicated to women, the bank has reported intention to increase this commitment.
  • Coupled with our digital solutions, which offers our clients the convenience of carrying out transactions from the comfort of their homes, we have managed to onboard over 800 new DADA’s in a span of only 3 weeks through the self-onboarding application.


  1. In respect to Covid19, tell us about your business and how it seeks to be a solution to the women in society.
  • Stanbic Bank Kenya was the first bank to announce customer interventions geared at providing relief from the adverse COVID-19 impact. The bank provided loan moratoriums to both individuals, Small and Medium-Sized Enterprises (SMEs) and corporates geared at providing relief from the adverse impacts of the pandemic to ensure we have resilient businesses in the rebound period.
  • We believe that DADA’s can make a difference in their communities, rise above their present circumstances, go further in their workplaces and business, and go global in their thinking and undertakings.
  • We continue to connect with women with the aim of empowering, building their capacity and resilience through various capacity building sessions. This includes the partnership with Breakthrough Leadership Transformation Group and the Estate Planning and Wills webinar which we conducted in collaboration with Judy Thongori, a renounced family lawyer.
  • Through the Stanbic Bank Foundation, we have partnered up with Wylde International, the official appointed training partners for Boost with Facebook. Wylde International will be running virtual training sessions for both our customers and potential customers to upskill them on the changing digital marketing dynamics. We intend to train a total of 350 individuals by the end of this programme.


  1. Beyond COVID, what should we expect from DADA Women Banking (what is in store for the future)
  • Our goal is to empower the women entrepreneurs in Kenya and the region at large. We plan to gear up our focus on the non-financial support and are continuously looking for partnerships to ensure that we take women to the next level. Our goal is to empower the Kenyan women holistically. We believe in the woman and her potential to grow, and through DADA the bank will offer solutions that match her current and future ambitions.
  • Our goal is to walk the journey with the woman by recognizing her and her unique needs for the purpose of developing a relationship that is built on trust and respect.


Dare to Aspire, Dare to Achieve with DADA By Stanbic Bank.