Over 1000 women SME owners across Nairobi have benefited from a five-day financial training organised by Absa Bank and the Kenya National Chamber of Commerce and Industry (KNCCI).
The tour is designed to help women entrepreneurs running small businesses strengthen their financial situations in the post-pandemic era.
Absa Bank’s managing director Jeremy Awori affirmed the bank’s commitment to empowering over one million Kenyan women entrepreneurs in the next five years, as part of its diversity and inclusion agenda.
“We are engaging women entrepreneurs through grassroots mentorship and networking platforms in partnership with like-minded stakeholders such as the KNCCI, and other corporate clients, to understand their fundamental needs," said Awori.
These engagements are crucial for Absa in developing holistic and tailor-made solutions that serve their unique and evolving needs, he said.
According to CBK, women, entrepreneurs account for slightly more than a third of all businesses (33%), and contribute to more than half of all business transactions in the country.
Among the challenges faced by women entrepreneurs beyond limited access to credit, is insufficient business development training to run sustainable businesses.
“We are optimistic that these coaching and mentorship sessions shall create a positive and sustainable impact to women entrepreneurs and our stakeholders, who benefit from a business environment that supports the growth and prosperity of women,” Awori noted.
The training was part of the bank's celebrations ahead of International Women’s Day which celebrates the social, economic, cultural, and political achievements of women.
Nancy Muthoni, vice-chair – Women in Business at the KNCCI, said the collaboration with Absa remains key in creating favorable commercial, trade, and investment opportunities, that redefine the future of women businesses and their contribution to the economy across the country.
Last year, the bank in partnership with the chamber upskilled over 1,500 women entrepreneurs in Mt. Kenya region, training them on business fundamentals such as sustainability, fundraising, bookkeeping, and networking.
The forums will be extended to the rest of the regions across the country including Coast, Western, Nyanza and the Rift Valley regions.