Over 1300 Women Entrepreneurs Benefit From Absa Bank’s SHE Stars
KEY POINTS
“To overcome poverty and the flaws of the economic crisis in our society, we need to envision a social life where women are empowered. We have to free our mind, imagine what has never happened before, and write social fiction.”
More than 1300 women-owned small businesses have benefited from the SHE Star Program after undergoing blended finance and business development services capacity building aimed at increasing the growth and competitiveness of women-owned MSMEs.
Speaking during the graduation ceremony for the final cohort of 402 women entrepreneurs at a Nairobi Hotel, Yunus Environment Hub Chairman Nobel Peace Prize Laureate Professor Muhammad Yunus reiterated the vital role women play in transforming communities around them. He reiterated the urgency of empowering women through the concept of social business to lead and run successful businesses and alleviate poverty.
“To overcome poverty and the flaws of the economic crisis in our society, we need to envision a social life where women are empowered. We have to free our mind, imagine what has never happened before, and write social fiction.” Yunus Environment Hub chairman Nobel Peace Prize Laurette Professor Muhammad Yunus.
On her part, Yunus Environment Hub Co-founder and Managing Director Christina Jager outlined women’s crucial role in climate action and business leadership. She noted that better involvement and integration of women into decision-making and programs like the SHE Stars program are vital to delivering climate mitigation and adaptation policies and solutions.
“Women entrepreneurs play an integral role in business, supporting their families and in the fight against climate change. At Yunus Environment Hub, we are glad to be part of the incredible success stories of the SHE Stars. We will continue supporting women to enhance their business capacities and adopt more resilient, sustainable, green practices.” Christina Jager, Co-founder and Managing Director, Yunus Environment Hub.
The SHE Stars program has incredibly contributed to SHE Stars’ growth at all levels. When asked about the program’s impact on their businesses, the SHE Stars affirmed that the blended sessions equipped them with the tools and skills to capitalize on their business models to drive social and environmental change in Kenya and beyond. Their testimonials indicated that as a result of the training, they have grown to recognize the broader landscape in which they thrive.
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“Becoming a more green, circular, and environmentally friendly business requires a commitment to sustainability and a willingness to invest in eco-friendly practices and technologies. I have managed to reduce energy, and water consumption, and use eco-friendly products. I have struggled with employing as I did not know how to do it. After attending the human resource session, I got four people on a contractual basis.” Sophia Kawira, Founder, Waridi Medimpact Limited Kenya
The GIZ Country Director Bodo Immink, underscored Germany’s commitment to create decent employment and sustainable jobs for women and youth through MSME development.
“At the heart of our commitment to MSME development is the firm belief that women entrepreneurs are key drivers of economic growth, thanks to their ability to create jobs, foster innovation, promote diversity, and generate positive social and environmental outcomes. By empowering women and youth to become successful MSME owners, we aim to unlock their full potential as agents of change who can make a real difference in the world. Our focus is creating decent employment and sustainable jobs for women and youth underscores our unwavering commitment to building a more inclusive, prosperous, and sustainable society.” said Mr. Immink.
On his part, Absa Bank’s Chief Executive Officer Abdi Mohamed said: “As a bank, our commitment to the women’s agenda extends beyond our organization and the products and services we provide. It is on this premise that we hope to directly impact over one million women entrepreneurs across the country by 2025 with requisite financial and non-financial support to scale up and take their businesses to the next level. We believe this will create a ripple effect on a lot more people in our society, including the people employed by these businesses, their families, their suppliers, and even the custome