Absa Bank Kenya, in collaboration with the German Development Cooperation have launched a KES 50 Million program aimed at increasing growth and competitiveness of 1,500 women-owned Micro, Small and Medium Businesses impacted by the Covid-19 economic situation, through blended finance and business development services capacity building.
The partnership is under the Employment and Skills for Development in Africa (E4D) Programme commissioned by the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and Absa Bank Kenya.
Dubbed SHE Stars, the project will offer a business skills training for the 1500 female entrepreneurs running small businesses in various sectors of the economy that have been negatively affected by the current Covid-19 pandemic. Adopting 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 inadequate access to finance, mentorship, information and markets. The analysis of the business impacts of Covid-19 and the development of coping and adaptation measures will be specifically targeted.