•The month long competition,launched in May 2024, was closed on the 12th of June after garnering over 2,300 applicants across various parts of the country.
•According to the firm, the finalists are Busu Naturals ,Cladfy, Code with Kids, Crafts with Meaning and Timao Group.
Image: FILE
Visa Kenya has announced the top five women business owners in the running for the Sh2.5 million grand prize in the She’s Next Kenya program.
She's Next Kenya, is a program aimed at supporting women-owned small businesses through funding, training and mentorship, is set to announce the winner on Wednesday 10th July 2024.
The month long competition, launched in May 2024, was closed on the 12th of June after garnering over 2,300 applicants across various parts of the country.
According to the firm, the finalists are Busu Naturals ,Cladfy, Code with Kids, Crafts with Meaning and Timao Group.
Visa Kenya’s Country Manager Eva Ngigi-Sarwari highlighted the importance of offering incentives for women led businesses and how it promotes economic growth.
“We received an overwhelming number of applications across the country, they represent a diverse range of industries and are set to significantly contribute to the Kenyan economy and beyond,” said Ngigi.
“These finalists have demonstrated exceptional business acumen, innovation, and resilience, standing out from a highly competitive field,”she added.
Notably, an additional 15 SMEs will enter a capacity building and mentorship program being carried out in partnership with Kayana Create.
Kayana Create is a community of female entrepreneurs that seeks to support and empower talented women entrepreneurs to take their businesses to the next level.
Consequently,Kayana Create co-founder Patricia Okello expressed her support for the She Next program and congratulated the finalists.
“We congratulate the finalists and look forward to their presentations. The determination they have demonstrated is truly inspiring and we are excited to see who will emerge as the winner,” said Okello.
The selected SME finalists are drawn from various industries including sustainability, financial services and STEM education.
Busu Naturals addresses the need for locally manufactured emollients for sensitive African skin by incorporating local botanicals and traditional beauty practices from different Kenyan ethnicities.
Cladfy has enabled micro-lenders to provide working capital loans to micro-businesses such as smallholder farmers, fish vendors, and motorcycle riders.
Code with Kids Empowers children from low-income backgrounds with affordable and accessible STEM education.
Crafts with meaning An award-winning collaborates with artisans in Kenya and Uganda to create lifestyle accessories and corporate merchandise inspired by African heritage.
Timao Group Addresses plastic pollution and affordable housing in Kenya by transforming plastic waste into durable, cost-effective building materials for modular homes.
Experts say Kenya has an estimated 1.5 million registered SMEs and 7.4 million informal SMEs.
Micro, small, and medium enterprises (MSMEs) are critical drivers of economic growth and contribute substantially towards poverty reduction and income generation.