Why business clubs can be a minefield for women

By Hellen Miseda

Although women entrepreneurs in the small and medium sector can now access much needed capital to venture into business, thanks to micro finance institutions, they still need a lot of guidance and mentorship to make it.

This missing link is what propelled Kenya Women Finance Trust (KFWT) to come up with their business clubs for women traders in the informal sector.

The Chief Executive Officer Dr Jennifer Riria says the clubs, launched last year, are a powerful knowledge and contact base that provide members with the tools required to make their business a true success.

She explains: "It is apparent that entrepreneurs are looking for a real partner who will recognise and support entrepreneurship spirit, and that does not necessarily mean start up capital. They want mentorship, lifelines that they can contact when stuck in business."

She says these "joined-up thinking sessions" are a global platform where members get a fulfilling experience- sharing forum where they can network to grow their business nationally and internationally.

The initiative, she explains, is an enhanced attempt to achieve the group’s development objective, which focuses on enhancing capacity in women entrepreneurs to equip them in identifying their current strengths and potential, and being able to scan their business environment for opportunities and threats.

She says: "A strategy will help anyone in business prepare a realistic vision for the future of their businesses and in so doing, can maximise ones business potential for growth."

The microfinance wants women to know that once they have embraced progress and identified the key growth areas that they target, its time to revisit a business plan and make it a roadmap to that next stages for their business.

Secure platform

Ms Pauline Ngari, the General Manager Operationss, says their areas of emphasis will be opportunities for marketing and deepening linkages and business expansion strategies.

KWFT members are already reaping the benefits of the club. Ms Josephine Gathoni who runs a diagnostic laboratory says: " Most business clubs are for the wealthy women and we in the jua kali sector cannot afford to join any.

That is why we cannot afford to miss an opportunity like this from KWFT.

This is a minefield where we extract rich ideas from those who are making it in business." The initiative incorporates training and knowledge sharing which lacks in many other existing clubs. The forum is also a free gateway to thousands of likeminded business owners around the world, providing direct contact, special offers, promotion and skills enhancement, using a secure platform where member to member business opportunities are completed daily on a local, national and international basis.

Membership open

The members are a host of diverse and successful business owners from all trades and professions, from a number of different countries around the world.

Membership in KFWT is open to women entrepreneurs at the missing middle level business that are registered companies.

So far, KWFT has launched the business clubs in Mount Kenya West region, Nairobi, Rift Valley and Nyanza Province. Plans to launch in other areas are in the offing.

KWFT is the largest national micro finance institution in Kenya with a capacity of accessing sustainable financial and non-financial services to economically active low-income women entrepreneurs, and a deep rural penetration.

It aims to improve the lives of these women by empowering them with finance and the right tools to make it in business.

It has a wide network of women across all the eight provinces in the country.

In the year ended December 2007, KWFT worked with 200,000 clients to whom Sh5.9 billion was disbursed. It has maintaned a 100 per cent loan repayment.