Catalyzing Women-led Enterprises: A Significant Gathering in Nairobi
A remarkable event recently took place in Nairobi, bringing together women-driven businesses from Uganda and Kenya. This high-profile regional convening aimed to fuel business growth, enhance cross-border collaboration, and improve access to finance for women entrepreneurs.
Organized by SHONA Group in collaboration with Welthungerhilfe (WHH), and with backing from Germany’s Federal Ministry for Economic Cooperation and Development, the event was held at the Swiss Belinn Hotel Nairobi, setting the stage for important discussions and networking opportunities.
Emphasizing Impactful Growth
Themed "Building Bridges for Business & Impact," this convening was a significant milestone within the Herizon Project, an initiative focused on fostering economic opportunities specifically for women entrepreneurs. The strategic goals of the Herizon Project include improving access to vital products and services across Kenya and Uganda.
This initiative targets regions where women actively create enterprises but still face challenges in securing funding, reaching markets, and establishing effective networks. By uniting founders, gender-lens investors, ecosystem players, and business development leaders, the Herizon Project aims to create sustainable businesses capable of scaling in East Africa.
Participants in this convening engaged in focused discussions revolving around three critical growth drivers:
- Increasing sales and market reach
- Strengthening women’s participation in value chains
- Expanding access to investment capital
Forty-one enterprises showcased innovative solutions in sectors including agriculture, climate-smart food production, digital innovation, and economic empowerment, further highlighting the potential influence of women-led businesses in East Africa.
The Crucial Role of SMEs
The convening underscored the critical importance of small and medium enterprises (SMEs) in the economies of Kenya and Uganda. In Kenya, SMEs represent approximately 98% of all businesses and contribute nearly 40% of the GDP. Similarly, Uganda’s SMEs account for about 90% of the private sector, employing over 2.5 million individuals and contributing roughly 20% to GDP.
Despite their significance, many women-led enterprises still grapple with issues like limited financing and restricted market access, which hinders their growth.
Gloria Achiro, the CEO of Jather Farmers in Uganda, shared valuable insights on the power of cross-border platforms:
“When investors, partners, and entrepreneurs seek collaboration, it fosters a mindset beyond local constraints. Cross-border opportunities not only expand market potential but also broaden perspectives.”
WHH representative Jovia Nampiina emphasized that empowering women-led enterprises, particularly in climate-sensitive industries, not only yields economic benefits but also enhances community resilience to climate change challenges.
Cultivating “Good Businesses” for Sustainable Change
For SHONA Group, this convening represents a part of a broader strategy to nurture “Good Businesses,” which create value not just for owners, but also for customers, employees, and communities.
Joachim Ewechu, the CEO of SHONA Group, stated that achieving sustainable development in East Africa necessitates effective ecosystem building instead of fragmented efforts:
“When women-led enterprises gain access to affordable capital and supportive networks, it catalyzes structural transformation and development.”
Conclusion
The gathering in Nairobi not only spotlighted the challenges faced by women entrepreneurs but also outlined a clear path toward empowerment and sustainable growth in East Africa. Through collaborative efforts and focused initiatives, there is immense potential to foster resilient, women-led enterprises that can thrive and significantly contribute to the region’s economy.
Engagement from various stakeholders, including investors and government organizations, will be pivotal in realizing these ambitious goals, paving the way for a robust future for women in business across Kenya and Uganda.
