US plans to boost Kenyan women entrepreneurs

The United States, through its Women’s Global Development and Prosperity (W-GDP) Initiative, plans to invest Shs 3.2 billion in Kenyan women entrepreneurs and their businesses. 

There is already a $3 million in W-GDP, but it will continue to mobilise Sh3.2 billion to support Kenyan business women. 

The investment and financing will be through the Kenya Investment Mechanism U.S. Agency for International Development (USAID) in the course of the next three years. 

 According to the USA Ambassador to Kenya, Kyle McCarter, and the USAID Acting Administrator, John Barsa, the W-GDP initiative has three activities in partnership with the private sector. 

One activity will focus on Kenyan women entrepreneurs and the other two will be on Kenyan women empowerment. 

Ambassador McCarter said, “Women must be full participants and leaders in business for Kenya to reach its full economic potential. USA Marafiki recognizes that economic prosperity is essential to Kenya’s future and our top priority is supporting expanded trade and investment ties between our two countries. 

He added that, "Women are a tremendous force in our economies and this program will give them the tools to access financial services, supporting our objectives under the W-GDP Initiative,” said Ambassador McCarter." 

The program seeks to launch, scale, or fund, and   women-owned businesses and enhance capacity building through sufficient mentorship, training, and other aspects of investment. 

Women entrepreneurs will also have an opportunity to directly connect with small and medium American enterprises. W-GDP, with its Sh152 million support, will partner with UPS to execute the plan. 

The W-GDP Microsoft Women’s Digital Inclusion Partnership will also materialize through aglobal commitment of Sh542 million. 

The program will also support Microsoft’s Airband Initiative which seeks to invest in  locally-owned and operated ICT firms serving rural areas in Kenya and other four countries. 

The main goal is to increase the number of women  with internet coverage globally by July 2022.