Women-owned MSMEs to get USAID funding

Women-owned businesses are set to benefit from a Sh164 million investment from an incubation programme sponsored by USAID.

The women will be part of a cohort of 135 who will take part in the Women Entrepreneur Incubator Programme (WEIP) at Strathmore University.

The programme targets micro, small and medium enterprises owned and operated by women, with a priority on youth.

While all the 135 businesses will benefit from capacity building during the two-year programme, 45 will get a chance to access investment.

These are 15 micro-sized businesses, 15 small and 15 medium.  Each of the micro business will get Sh1.3 million, Sh3.2 million for small and Sh6.6 million for medium.

The money will be in the form of co-investment.

“We expect them to invest a similar amount,” said WEIP project technical lead Ruth Kiraka, professor of strategy and entrepreneurship at Strathmore University.

The incubator programme will focus on businesses that seek to scale. “One of our outcomes is to create employment,” said Prof Kiraka.

The programme will also address limited access to finance, challenges with market opportunities, limited access to business development services, lack of self-efficacy and weak ecosystem among women-owned enterprises.

The WEIP programme puts emphasis on agriculture, health, water and sanitation, textiles, boosting employment opportunities, improving supply chains and, increasing export capacity.