. some indicators of the financial sector performance witnessed in the last twelve months to march 2011 are as follows : the sector ’ s asset base expanded by 20 percent from ksh. 1. 5 trillion in march 2010 to ksh. 1. 8 trillion in march 2011 as banks continued to expand their lending portfolio ; the deposit base increased by 16. 7 percent from ksh. 1. 2 trillion to stand at ksh. 1. 4 trillion in march 2011 on account of branch expansion, financial inclusion and domestic economic activity expansion ; the total and core capital adequacy to total risk weighted assets ratios stood at 21. 1 percent and 18. 9 percent, well above the statutory minimum of 12 percent and 8 percent respectively, signifying the stability of the sector ; the sector ’ s pre - tax profits increased by 16. 5 percent from ksh. 17. 0 billion in march 2010 to ksh. 19. 8 billion in march 2011 while the average liquidity at end of march bis central bankers ’ speeches 2011 was 43. 5 percent, well above the statutory minimum requirement of 20 percent. this impressive growth has been supported by the expansion of banks into new market frontiers, improved risk management and continuous legal and regulatory reforms by the government and central bank in a bid to enhance financial inclusion by reaching out to the unbanked population. your excellency, ladies and gentlemen : i would like to assure the banking sector and stakeholders that the central bank will continue to develop cardinal policies aimed at financial inclusion, development and deepening in consultation with the market. so far we have seen the supply - side ; the deposit accounts solved. we need to make it easier and cheaper to borrow and loan accounts will grow from the current 2 million accounts compared to 14 million deposit accounts. on the demand side, demand for loans is lagging because of costs. the cbk will is to create a conducive business environment for the sector to operate efficiently, effectively and soundly. we continue to support and build strong institutions both the commercial banks and the regulator must be strong. strong institutions will always define the appropriate incentives ( and penalties ) to encourage prudent behavior in the market. we hope such measures and the ensuing environment will of necessity benefit clients of banks who have taken financial inclusion seriously. your excellency, ladies and gentlemen ; finally, allow me once again to applaud standard chartered bank kenya limited on your centenary celebrations and wish the bank continued prosperity in the future here in kenya

financial services. you will agree with me that without financial access, the poor cannot save or build their assets – we will, therefore, have no hope of eradicating poverty from the continent. ladies and gentlemen : the government of kenya has played a pivotal role in the promotion of women empowerment and gender equality. the women enterprise fund, a flagship project created by the government of kenya in 2007, has been mandated to economically empower women by providing them access to affordable credit. through the fund, subsidized credit for business start - ups or expansion is provided and so are business training, market linkages and other infrastructure support to women - run businesses. through the revolving fund, women have been able to access loans and venture into a variety of productive economic activities and employment, which have triggered positive multiplier effects. these businesses have created jobs for the women themselves as well as thousands of other kenyans. increases in their disposable incomes have translated into better nutrition for their families, better clothing, healthcare, food security and education. the fund is also strengthening women voices and their decision - making, bargaining power in the household as well as within the community and the nation. the women enterprise fund ’ s motto that “ if you empower a woman, you have empowered a family and a whole nation ”, captures it all. ladies and gentlemen : given this scenario of access to finance for women, the timing of the african women economic summit was very timely. at the summit, we sought to explore the barriers to mainstreaming women in accessing finance and decision - making in the financial sector. more importantly, we sought to identify pragmatic approaches to breaking these barriers. at the end of the summit, various pledges were made by financial institutions, development finance institutions, network organisations and regulators. as regulators, we committed to identifying and addressing barriers to women accessing finance in the legal and regulatory framework. we would then identify innovative ways of mitigating these barriers. i therefore wish tonight to outline the progress made by the central bank of kenya. ( cbk ) in enhancing access to finance by women since the summit. the first landmark was on 31st march 2010 – barely two weeks after the summit – when cbk licensed the second deposit - taking nationwide microfinance institution, kenya women finance trust deposit taking microfinance limited ( kwft ). with a customer base of close to 400, 000 female clients, it is safe to say that kenya women finance trust deposit taking