Women are increasingly taking the reins of entrepreneurship, driving innovation and economic growth in the country.
Globally according to the World Bank, one-third of businesses worldwide have a woman among their principal owners. This number is steadily rising, with the number of startups with female founders doubling globally.
Studies also suggest that women-led businesses are more likely to embrace sustainable practices, creating a powerful synergy with innovative digital solutions.
MasterCard and the IFC project that about 28 trillion USD will be injected in the global GDP by the end of this year if women’s business ownership rates reach parity with men. This highlights the immense economic power women entrepreneurs hold.
In Kenya, women are leading the charge in small and medium-sized enterprises (MSMEs). A staggering 48% of all MSMEs in the country are owned by women, according to the World Bank. These businesses are crucial job creators, contributing an estimated 20% to Kenya’s GDP.
This was highlighted by notable women entrepreneurs during the Super Women in business awards, organized by Dependable brands in Nairobi.
Amara Realty Company Limited CEO Jane Baiyu said that despite their impressive achievements, women entrepreneurs often face challenges including limited access to resources and formalization benefits.
Baiyu noted that most women-owned businesses are in the informal sector and tend to be smaller in scale and struggle with access to finance and mentorship compared to male-owned ones.
“However, the tide is turning. We are increasingly recognizing the vital role women play in the economy. Initiatives to promote access to finance, digitization, training, and mentorship are fostering a more supportive environment for women entrepreneurs to thrive,” she said.
The CEO noted that equipping women with the right tools, knowledge, and support network will collectively accelerate progress for women, communities, and the economy.
“We’re building a community where women entrepreneurs can connect, share experiences, and access mentorship opportunities,” she said.
Similar sentiments were echoed by Make-up By Rose CEO Rose Ntongondu wo said that women in businesses across the country hold immense power to unlock key economic opportunities in the country as well as creating job opportunities for Kenyans.
Rachael Wainaina the founder and CEO of Film Village of Kenya reiterated that supporting women enterprises will trigger socioeconomic growth in the country.
She noted that her group is set to establish a film firm on a 300-acre piece of land which will unlock opportunities for over 20,000 Kenyan youths.
“This is why we should be fostering a supportive digital ecosystem for women-owned businesses so as to address the challenges women entrepreneurs face such as limited access to resources and technology. This way our communities, regions and the country will experience significant growth,” she said.
Ellen Tea CEO Rosemary Njuguna noted that women in leadership positions in firms tend to accomplish tasks diligently and guide establishments towards growth and prosperity.
“The entrepreneurial spirit among women is strong and growing, with younger generations leading the way. With access to the right financial tools, mentorship, and digital resources, women entrepreneurs can unlock new business opportunities, drive innovation, and contribute significantly to economic development,” she said.
Perminus Kariuki, the Managing Director of Nyota Njema, a land buying and selling company, said that women play a critical role in the economic growth and development of the country adding that most have entrepreneurial networks that enable them spread roots across the divide.
Kariuki also noted that women are taking over the reins of businesses in the real estate sector and are helping in kicking out fraudulent and unscrupulous dealers in the sector.
The MD reiterated with the help of women leaders in the Real Estate Association (RESA), land dealers have managed to restore sanity in the sector after it was almost ruined by corrupt dealers who had escalated fraud cases in the sector.
