- The SHE Star programme was launched in 2021 with an aim to fast-track economic recovery of about 1,500 women-owned MSMEs.
- The final third and fourth cohorts saw 402 women benefit from the programme.
Image: HANDOUT
Efforts to increase the growth and competitiveness of women-owned Micro Small and Medium-sized Enterprises in the country received a boost as more than 400 women business leaders graduated from Absa's SHE Stars programme.
The mentorship programme provided the women with blended finance and business development services capacity building aimed at spurring women's play in sector growth.
Speaking during the graduation ceremony for the final third and fourth cohort of 402 women, Absa Bank’s CEO Abdi Mohamed said they remain committed to the women's agenda, extending beyond the organisation's products and services.
"It is on this premise that we hope to directly impact over one million women entrepreneurs across the country by 2025 with requisite financial and non-financial support to scale up their businesses," Mohamed said.
He added that they are optimistic the initiative will create a ripple effect on a lot more people in society, including people employed by the businesses, their families, their suppliers and the customers they serve.
Yunus Environment Hub Chairman Muhammad Yunus reiterated the vital role women play in transforming communities.
He echoed the urgency of empowering women through the concept of social business to lead and run successful businesses and alleviate poverty.
“To overcome poverty and the flaws of the economic crisis in our society, we need to envision a social life where women are empowered,” Yunus said.
One of the beneficiaries attributed that the programme's blended sessions equipped them with the tools and skills to capitalise on their business models to drive social and environmental change.
“Becoming a more green, circular and environmentally friendly business requires a commitment to sustainability and a willingness to invest in eco-friendly practices and technologies. I have so far managed to reduce energy, and water consumption and use eco-friendly products," said Sophia Kawira, founder, Waridi Medimpact Limited Kenya.
"I have previously struggled with employing, as I did not know how to do it. After attending the human resource session, I got four people on a contractual basis,” she added.
The SHE Star programme was launched in 2021 with an aim to fast-track the economic recovery of about 1,500 women-owned MSMEs impacted by Covid-19 and increased climate risks.
It entails mentorship sessions such as the concept of social business, circular economy, disruption management and business continuity, human resource management and investor readiness.
Throughout the sessions, participants were also able to access funding opportunities from Absa and other funding institutions.