Kenya Women Microfinance Bank (KWFT) has officially joined the United Nations Global Compact as part of its ongoing efforts to work collaboratively with partners to advance sustainability and support the delivery of the UN Sustainable Development Goals (SDGs).
According to the Microfinance Board Chair Dr. Jane Mwai -the move is aimed at enhancing KWFT participation in the sustainable business and development space.
Over the years KWFT while developing products has aligned its strategies with the SDGs as well as the Triple Bottom-Line approach that focuses on the products ability to transform the customers’ lives, their impact on the environment and ability to generate sustainable returns.
-the move is aimed at enhancing KWFT participation in the sustainable business and development space.
This has been intentional in promoting financial inclusion to families and gradually uplifting them out of poverty thus elevating them to improved living standards.
“We are delighted to have KWFT join as the first micro-finance institution in Kenya committed to the Ten Principles of the UN Global Compact. Their work in deepening financial inclusion by banking on women in underserved rural areas is instrumental in delivering wide ranging benefits for both families and the economy at large. We look forward to contributing to their sustainability efforts even further.” said Global Compact Network Kenya Executive director Ms. Judy Njino.
In his remarks, Mwangi Githaiga, Managing Director, Kenya Women Microfinance Bank (KWFT) noted that “By facilitating financial inclusion among women, KWFT has for the last 40 years partnered with women in their wealth creation, providing innovative and scalable solutions to enable them to sustainably transform their lives and those of their families.”
“In retrospect women have been disadvantaged due to lack of collateral yet they make up a large and growing segment of the informal economy. It is for this reason that KWFT has committed itself to empower its customers and guide them into becoming active participants in positive economic change. In addition, KWFT has embraced gender inclusivity among its employees as women are encouraged to take up leadership opportunities hence driving inclusivity within the corporate agenda.” He emphasised.
Founded in 2000 as a special initiative of the UN Secretary-General, the United Nations Global Compact is a call for private sector companies everywhere to align their operations and strategies with the Ten Principles in the areas of human rights, labour, environment, and anti-corruption.
Over the last 20 years, the UN Global Compact has grown from a group of 44 businesses into what is today the world’s largest corporate sustainability initiative and global movement of more than 13,000 businesses across 160 countries.