The recent initiative to offer 100 women-owned businesses in East Africa a chance to secure additional capital for expanding their operations is a timely one.
Under the auspices of the Graca Machel Trust, the Invest2Impact competition will see the eventual winners being funded by leading development finance institutions. Among the financiers are FinDevCanada, the Commonwealth Development Corporation Group of the UK, Proparco of France, the Overseas Private Investment Corporation of the US and the MasterCard Corporation.
We welcome such initiatives and urge Kenyan women business owners to take part in the race for funding. While the competition is not for startups but for established businesses, the funding idea is one that can be adopted by local organisations and replicated at the grassroots to spur the growth of women-led enterprises.
Financing is a vital cog in the wheel of economic growth hence any partnerships targeted towards that goal are most welcome.
All efforts aimed at sealing the financing gap in women enterprises should be supported by everyone. That’s where the future lies.
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Note: The results are not exact but very close to the actual.
