In the vibrant Kenyan business landscape, Small and Medium Enterprises (SMEs) play a pivotal role. Amidst this dynamic setting, it's crucial to shed light on an often underestimated yet integral part of the SME community: women entrepreneurs.

According to the Kenya National Bureau of Statistics, women-owned businesses account for approximately 36% of all enterprises in Kenya. Despite this significant presence, they face unique challenges that hinder their growth and success.

Challenges Faced by Women Entrepreneurs

One of the primary hurdles is access to finance. A 2019 study by the World Bank revealed that women in Kenya are 8 percentage points less likely than men to have a bank account.

Another challenge lies in networking and mentorship opportunities. Building connections with industry peers, investors, and role models can significantly impact a business's growth, but women often find these avenues more elusive due to cultural and societal norms.

Strategies for Empowerment

• Financial Inclusion: Encourage financial institutions to provide equal access to credit and banking services for women. Lipabiz Technologies Ltd offers a business management platform and payments platform that can help level the playing field.

• Networking Events: Organize gender-inclusive networking events, where women can connect with other entrepreneurs, investors, and mentors.

• Capacity Building: Offer training programs to enhance business skills, particularly in areas such as finance management, marketing, and technology adoption.

By addressing these challenges and providing equal opportunities, we can foster an environment that encourages the growth of women-led businesses. This not only empowers individuals but also contributes to a more robust and diverse SME sector in Kenya and Africa.