As we mark International Women’s Day 2025 under the theme #AccelerateAction, we celebrate women making bold financial strides. Kenyan women are leading the way; running households, businesses, and breaking barriers.
We sat down with Cynthia Ego, a Relationship Manager at ABC Bank Westlands Branch, to share smart financial moves every woman should know.
Q1: How can women navigate their finances?
Cynthia: The first power move is to learn how to budget! Learn the 50-30-20 rule by heart and apply it to every cent you get. This will help you learn your spending habits and you will be able to plan your next financial move based on this.
Q2: For those who save but keep digging into their savings, how can they stop?
Cynthia: Separate your savings from the rest of your funds by opening a savings account, like an ABC Target Savings Account, Pure Savers, or Fixed Deposit account. Have a standing order in place to automatically transfer funds to those accounts monthly. Saving requires a lot of discipline and intentionality, and a standing order helps you build it. Put your money in hard-to-reach places also, like accounts that often limit withdrawals until you hit your target (e.g. ABC Target account), Fixed deposit accounts which lock your money until the agreed period ends, money market funds which take days to withdraw or investment groups, chamas and saccos that require member approvals or scheduled payouts for you to withdraw,
Q3: Where would you advise a sister to start investing?
Cynthia: I’d say start small with money market funds and Fixed Deposits. they’re low-risk and let you earn interest while keeping your money accessible. When starting, the trick is to be consistent even if it is starting with Ksh1,000 a month!
Q4: What about starting a side hustle when you don’t have enough funds?
Cynthia: It’s all in the mindset! Start with low-capital businesses like selling ‘mtumba’ clothes online, acquire a skill like hairdressing, graphic design, baking etc., and then offer those services as a side hustler. You can also consider a small business loan or a chama to raise the capital.
Q5: What are your thoughts on relationships and money?
Cynthia: Keep your money matters independent. Have your bank account, contribute fairly to shared expenses, and don’t cosign loans you can’t afford. If you’re married or are about to get married, take some time to study and understand matrimonial property laws because your financial security matters too!
Q6: What’s your final word?
Cynthia: Financial freedom is within reach for women today, more than ever! Siz, start small, stay consistent, and remember, your money should work for you, not the other way around!
Whether you’re saving for your future, investing in your dreams, or building generational wealth, every step you take counts. This International Women’s Day, we celebrate your ambition, resilience, and power to take charge of your finances. Happy International Women’s Day!