In the framework of the SheTrades Commonwealth+ Programme, which is funded by United Kingdom (UK) International Development, the International Trade Centre is collaborating with Absa Bank Kenya, the host institution of the SheTrades Kenya Hub, to launch the Access to Finance Accelerator programme, a six-week intensive training to enhance access to finance for women entrepreneurs in export businesses.
This programme focuses on equipping participants with the skills needed to create bank-ready business plans and manage business risks effectively by supportingparticipants with a comprehensive understanding of commercial banking, small and medium-sized enterprise (SME) financing, and alternative funding options to enhancing their financial literacy and business financingpreparedness.
The training combines practical exercises, such as pitching sessions, networking opportunities, and exposure to successful business cases and promotes the role of trade logistics and e-commerce as key drivers for international business growth. The programme also provides customized financial solutions, expert mentorship and strategic partnerships to ensure thatparticipating women-led businesses are well-positioned to compete and succeed on the global stage. Other partners in the programme include the African Guarantee Fund (AGF) and DHL GoTrade Initiative.
Speaking during the launch, Absa Bank Kenya Business Banking Director Elizabeth Wasunna said the Access to Finance Accelerator programme is designed to equip entrepreneurs with the necessary tools, knowledge and networks to successfully navigate the complexities of international trade.
“At Absa, we are deeply committed to supporting women in business. We acknowledge the challenges and barries they face in accessing finance and markets necessary to expand their businesses across the globe. As theSheTrades Kenya Hub host institution, we are proud to be at the forefront of initiatives that bridge the gap between women-led businesses and international markets. This initiative complements our four-pronged approach to providing access to markets, information, mentorship and coaching, and sustainable finance,” said Ms. Wasunna.
On her part, Senior Advisor for SheTrades Hubs in Eastern and Southern Africa Phyllis Mwangi noted the importance of the new programme in bridging the access to finance gap for women entrepreneurs in Kenya.
“This is a pivotal moment for women entrepreneurs in Kenya, as we celebrate the launch of the Access to Finance Accelerator initiative designed to bridge the gap between women entrepreneurs and the critical resources they need to grow and thrive. The programme reflects a shared vision in which women have equal opportunities to succeed in business and have access to the tools they need to scale,” said Ms. Mwangi.
Speaking at the event, the British High Commission Agriculture, Food and Drink Attaché for Africa, Rebecca Schneider, noted the need to support women in export to scale up their operations, invest in new markets and compete internationally, while leveraging on the opportunities presented by the African Continental Free Trade Area (AfCFTA) Agreement.
“Women entrepreneurs are important to the future of Kenya as they are critical to creating employment opportunities, poverty reduction and economic growth, especially in the agricultural sector, where women make up the bulk of the sector in Kenya. It is therefore important to support women to reduce these barriers and export their products to the United Kingdom, the African continent and the rest of the world,” she noted.
The Access to Finance Accelerator programme will targetwomen exporters operating in manufacturing, including textiles and apparel, handicrafts, hospitality, agribusiness, agri-processing and services sectors in the next two years.
