NAIROBI, Kenya Dec 21-Absa Bank Kenya, in collaboration with the German Development Cooperation, has launched a 50 million shillings program aimed at increasing the growth and competitiveness of women-owned businesses.
Double SHE stars, the project will provide business skills training to 1,500 women entrepreneurs who run small businesses in various sectors of the economy that have been negatively affected by the current Covid-19 pandemic.
Adopt holistic face-to-face training, online sessions and workshops; The program aims to address business gaps and training needs that women entrepreneurs face, such as insufficient access to finance, mentorship, information and markets.
The analysis of the commercial impacts of Covid-19 and the development of adaptation and adaptation measures will be specifically targeted.
Speaking at the launch of the partnership, Elizabeth Wasunna, Director of Corporate Banking Services at Absa Bank, said: “Absa Bank is committed to making financial services more accessible and improving the financial literacy of women entrepreneurs.
Representing GIZ, Thomas Jaeschke, the E4D program manager underlined the commitment of the German Development Cooperation to create decent and sustainable jobs for women and young people through the development of MSMEs.
“This partnership therefore aims to address the capacity, structural and financial challenges, as well as the impacts of the current pandemic, which these MSMEs are facing to realize their full potential by accelerating these multiplier effects,” said Jaeschke.
The 1,500 SHE stars will be enrolled in a technical business management program facilitated by Yunus Environment Hub as part of the Absa SHE Business Academy as part of the program.
Among other things, the program will cover cash flow analysis, risk management, income diversification, branding, fundraising, leadership and people management.
As part of the training program, Absa Bank will also provide loan facilities.