The push for financial inclusion is paying off as Kenya now tops the region in provision of capital for women-run enterprises. This is according to the Dell Global Women Entrepreneur Cities Rankings 2017.
Nairobi was the only African city in the top 10 in the capital category, coming in sixth globally ahead of Singapore, Stockholm, Beijing and Chicago.
“The Capital category measures the frequency and value of funding received by women-led businesses, the proportion of funding compared to that of the male-run businesses and the capital base that women can draw on,” explained the index.
In the overall ranking — which in addition to capital takes into account markets, talent, culture and technology — Nairobi is ranked 33rd globally, coming second only to Johannesburg in Africa. Uwezo Fund and Women and Youth Enterprise Fund have so far provided over Sh25 billion to women-led enterprises across the country.
That and the Sh26 billion worth of tenders availed by the government, of which 30 per cent were set aside for women, youth, and persons with disability, have buoyed the financial welfare of women who were previously considered marginalised.
In the last budgetary allocation the Treasury allotted Sh18.3bn to the Youth Empowerment Programme and Sh0.8bn to the Women Enterprise Fund.