Posts Tagged 'Kenya'

How Mastercard is Investing in Women Entrepreneurs in Developing Nations

bawgggg

In Michelle Martin’s recent Forbes article, “How Mastercard Could Close A $300 Billion Credit Gap For Women Entrepreneurs,” she reports,

“As of 2017, 70% of women-owned MSMEs [micro, small and medium-sized enterprises] in the developing world lack access to adequate financing, representing a $300 billion credit gap each year.”

This major finance inequality stems from MSMEs not having access to a digital record of transactions or the resources required by banks to obtain credit. Because of these issues, women entrepreneurs, in places such as Nairobi Kenya, are not able to gain the capital needed to purchase inventory in order to expand their enterprises. Expanding a business is critical to the success of a business, and makes it possible for the entrepreneur to potentially achieve success on a global level.

Thanks to Mastercard, this $300 billion credit breach is about to change. The corporation is launching technology, through the Mastercard Center for Inclusive Growth, to aide women owned MSMEs in these countries. Martin explains,

“In partnership with Unilever, Mastercard recently launched the Jaza Duka program in Kenya, where they created a first-of-its-kind digital lending platform. The unique platform tracks how much Unilever product a store owner has purchased over time and combines that data with an analysis by Mastercard. The results are used to provide a micro-credit eligibility recommendation to Kenya Commercial Bank, who can then provide an interest-free credit line.”

The venture is already being met with success. In one instance, a Kenyan entrepreneur named Lucy Njoki, has been able to increase her sales at her shop by twenty-percent, thanks to the Jaza Duka program.

To read Martin’s full piece, and an interview she conducted with one of the executives of this Mastercard program, Shamina Singh, click here.

This support of global women entrepreneurs is the kind of change that we here at wegg™ are proud to watch. If you or a woman entrepreneur you know is trying to “go global,” we would love to help you, too.

_______________________________________________________

JOIN us for our morning wegg™ workshop on September 12th and hosted by Bank of America (135 S. LaSalle Street, 44th Floor).  Julie Smolyansky, President and CEO, Lifeway Foods, will present “Follow Your Gut,” covering:

  • How global factors influence company values and mission
  • Why we should empower women entrepreneurs around the world
  • How to channel inspiration from travel experiences into marketing initiatives

Tickets $40 ($20 for students); includes Continental Breakfast.  To learn more and to register, visit:  https://www.eventbrite.com/e/weggtm-workshop-follow-your-gut-presented-by-julie-smolyansky-tickets-48655708534
__________________________________________

Women Account for 48 Percent of all SMEs in Kenya

Screen Shot 2016-07-16 at 3.39.40 PM

In Kenya, women-owned businesses account for over 48% of all SMEs, contributing about 20% of the Kenyan gross domestic product (GDP). Hence, the reason for a partnership between SheTrades Initiative (launched by the International Trade Centre) and Barclays Kenya for the purpose of offering local women entrepreneurs support in critical areas, including financial management, in order to help them create and maintain links to international markets.

“This partnership comes at an opportune time when SMEs are being globally recognised as vital economic growth and employment drivers. SheTradesKe presents us with a great opportunity to empower women in business and certainly draws us a step closer towards achieving the United Nations Sustainable Development Goals which seek to eradicate extreme poverty by 2030, while curbing social and economic inequalities,” Mr Awori [Managing Director, Barclays Bank of Kenya] said.

Read more:  Barclays, ITC cooperate to link up 10,000 women entrepreneurs to export markets

__________________________________________

Note: Don’t miss our next WEGG webinar 8/24 on “Reach Multilingual Markets: Creating Content, Developing Effective Partnerships, and Utilizing Translation Technology,” and presented by expert Jennifer Murphy, Director of Marketing, Eriksen Translations, Inc. Register here: https://attendee.gotowebinar.com/register/8702241284561995012. Event is no charge but you must register in advance to attend.

__________________________________________

Start, Scale and Grow Your Business Globally

StartScaleAndGrowYourBusinessGlobally

The Women’s Entrepreneurial Centers of Resources, Education, Access, and Training for Economic Empowerment (WECREATE) Center in Nairobi is a center launched by the U.S. Department of State to empower women and promote entrepreneurship globally.

The WECREATE|KENYA Center is one of the three centers announced by President Obama during the Global Entrepreneurship Summit (GES) held in Nairobi on July 2015. It is the second of its kind in Africa and will provide women with tailored, experiential-based education and resources to support their specific needs to start, scale, and grow businesses.

Read more:  Kenya Women Get Support Center

Note:  Don’t miss our upcoming WEGG webinar on March 2nd at 11:00 a.m. Central time on how to protect your intellectual property and presented by legal expert Susan Meyer, Counsel, Nixon Peabody.  The webinar is no charge but you must register to attend: https://attendee.gotowebinar.com/register/6046842634637321474. See you there!

Helping Kenyan Girls Excel

HelpingKenyanGirlsExcelWEGG

A girl’s life changes when she is sponsored to stay in school.

So what inspired Linda Lockhart, global director of the Cohen Brown Management Group, a management consulting firm based in Los Angeles to launch the Global Give Back Circle (GGBC), a nonprofit funded by corporate philanthropists like Microsoft and ATEbank in Greece that enables high school girls in Kenya make the leap to higher education?

Find out more here.

Additional resource here.

Posted by:  Laurel Delaney

To Go Global, Shift Your Perspective

EvelynMungai

With your business, are you afraid of dealing with the unknown?  Get over it.  Because to do well in the international marketplace, you have to be fearless and get on with the life of conducting worldwide business.

Sure, it has its challenges; but you can overcome them by building partnerships and strategic relationships.

Take Mrs. Evelyn Mungai (pictured), author, mother, politician and entrepreneur who is from Nairobi, Kenya (Northeastern Africa).  She was was asked, “What do you feel may have been your strongest seed of inspiration to take the leap into global entrepreneurship?”

Her answer?  “Other people’s skepticism.”

Read this fabulous interview conducted by Tasha Phelps with Mrs. Mungai which addresses several great questions, points and tips about taking a business global, including:

“What significant barriers did you face when deciding to take your business global?”

Answer (Mungai): “Money, men, doubt … Take your pick. When I decided to grow my business globally, it was skepticism that continued to confront me.  There were a lot of people who didn’t think that a woman in Kenya could – even OWN a business – let alone do business internationally. It didn’t matter, though, because I still did what I knew I could do. I sometimes wonder if I pushed harder just so that I could prove people wrong.”

Go here for the full interview.

Posted by:  Laurel Delaney

Women Entrepreneurs in the Developing World

womenentrepreneursgrowglobal

What does it take to make a successful female entrepreneur in the developing world? If any entity can come up with an answer, it is The World Bank and part of the solution is that women need a relatively effective way to save money.

More can be found on this topic via a new paper (PDF file available for immediate download) Savings Constraints and Microenterprise Development that reports on the results of an experiment in Kenya that provided zero-interest savings accounts to village microentreprenuers.

And visit the Private Sector Development Blog through The World Bank.

Posted by: Laurel Delaney


WEGG Mission

Our mission is to educate, inspire and nurture women business owners and entrepreneurs worldwide on how to go global so they can run healthier businesses and create a new future for themselves, their families and their community.


Women Entrepreneurs GROW Global is a 501(c)3 nonprofit organization. EIN/Tax ID #47-2956522.

Donate Your Gift Card to WEGG!

Not know what to do with your Starbucks or Target Gift Card?  Put it to good use.  Exchange it for a donation to WEGG!  You will receive a tax receipt for the entire full value or any unused balance of your card.
wegginar Oct 3
WEGG news sign up
wegg workshop in September
WEGG linkedIn group

Join 2,010 other followers

Categories

Archives

Ask a Question

Honors & Awards

Use Smile Amazon and WEGG receives a .05% donation from Amazon on eligible purchases.

Copyright Notice

©2008-2018 Women Entrepreneurs GROW Global.
All rights reserved.

%d bloggers like this: