Absa Bank Kenya Partners with Government and Africa Guarantee Fund to Empower Women Entrepreneurs in Western Kenya
Absa Bank Kenya, in collaboration with the Office of the Women’s Rights Advisor to the President of Kenya and the Africa Guarantee Fund (AGF), is proud to announce the launch of the Empower Her County Program. This innovative initiative aims to equip and empower at least 30,000 women-led micro, small, and medium-sized enterprises (MSMEs) across Kakamega, Bungoma, and Vihiga counties in Western Kenya.
Addressing Gender Disparity and Boosting Economic Growth
The program recognizes the critical role women play in Kenya’s economic development and seeks to bridge the gender gap in entrepreneurship. By equipping women entrepreneurs with the necessary tools and resources, Empower Her County Program empowers them to:
- Upskill their businesses: Participants will gain knowledge in essential areas like business registration, taxation, marketing, financial management, and digitization.
- Build resilience: The program incorporates training on budgeting, financial planning, and bookkeeping, enabling businesses to weather economic challenges.
- Thrive in the competitive landscape: The curriculum includes the internationally recognized Start and Improve Your Business (SIYB) module, equipping participants with proven business management strategies.
Building on a Strong Foundation
![Absa Bank Kenya Launches Comprehensive Training Program for Women Entrepreneurs](https://modenwoman.com/wp-content/uploads/2024/05/ABSA-scaled.jpeg)
Hon. Harriette Chiggai, President’s Women Rights Advisor, underscored the program’s significance at the launch event held at Masinde Muliro University. She emphasized the government’s commitment to supporting women-led MSMEs through collaborative efforts with private sector entities. The Empower Her County Program offers a comprehensive curriculum encompassing:
- Business registration and compliance
- Taxation fundamentals
- Marketing strategies
- Savings and investment planning
- Budgeting and financial management
- Bookkeeping practices
- Business digitization techniques
- Market linkages beyond county borders
- Cross-border training opportunities
Aligning with Sustainable Development Goals
Elizabeth Wasunna-Ochwa, Absa Bank Kenya’s Business Banking Director, highlighted the program’s alignment with the Sustainable Development Goals (SDGs) and Absa’s purpose of empowering Africa’s tomorrow together. She emphasized Absa’s commitment to empowering over one million women entrepreneurs by 2025 by providing them with:
- Market access and information
- Coaching and mentorship opportunities
- Business networks
- Access to capital for business growth
Addressing a Critical Need
Statistics paint a clear picture: according to a 2018 International Labour Organization report, nearly 60% of women’s employment globally is informal, with this figure exceeding 90% in low-income countries. Furthermore, women constitute a significant portion of the rural Kenyan population, where poverty levels are high. The Women’s Empowerment Index 2020 by the Kenya National Bureau of Statistics reveals a substantial disparity between urban and rural areas, highlighting the need for targeted interventions like Empower Her County Program.
This impactful financial literacy program is envisioned to be rolled out across all 47 counties in Kenya. It aims to achieve significant progress by:
- Increasing economic participation and entrepreneurship among 70% of participating women.
- Enhancing financial literacy and management skills for 90% of participants.
- Equipping women with the knowledge and tools to access available government and private sector funding.
The Empower Her County Program represents a significant step towards a more equitable and prosperous future for women entrepreneurs in Western Kenya and beyond.
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