In sub-Saharan Africa, women make up 58 per cent of the continent’s self-employed population, yet they face significant barriers to accessing finance and business support services.
This is according to the 2022 Africa Sustainable Development Report by the UNDP.
“Only 20 per cent of women entrepreneurs in Africa have access to formal financial services, highlighting a significant gap that banks can address,” the report says.
African banks are increasingly launching programmes specifically designed to support women entrepreneurs.
These initiatives include providing access to credit, business training and mentorship, which are crucial for the success of female-led businesses.
One such bank making strides in promoting gender equality through SDG 5 is KCB Group, which operates in eight countries across East and Central Africa.
According to KCB Group’s 2023 Sustainability Report, in 2022, KCB Bank Kenya committed Sh250 billion over five years to empower women entrepreneurs through the Female-Led and Made Enterprise, FLME platform, pledging an annual Sh50 billion.
“KCB further strengthened its support with partnerships with organisations like the European Investment Bank, promoting inclusive growth and economic empowerment for women across Kenya, Tanzania and Uganda,” the report says.
We set out across Kenya to uncover the stories of three women entrepreneurs who have benefited from the flagship Female-Led and Made Enterprise programme.
FROM TEACHER TO HOTELIER
Isabella Lumumba, an ambitious entrepreneur from Kisii county, had always been passionate about making a difference in her community.
Qualified as a graduate teacher, Isabella taught in Nakuru for two years before deciding to explore new opportunities abroad in the US.
“After returning from the US, I realised that being in a classroom wasn’t fulfilling anymore, so I ventured into the entrepreneurial world,” she says.
After trying her hand in a few ventures, Isabella eventually found her calling in the hospitality industry, founding Ufanisi Resort in Kisii.
Her vision was to create a unique facility that provided an elevated experience for locals and visitors alike. “
At the time, everything in the region was basic. We wanted to offer something different, more comfortable for families and corporate clients,” she says.
Isabella started a small facility with just 12 rooms, designed to address the lack of quality accommodation in Kisii.
“We saw a niche and filled it,” she says, recalling the early days of Ufanisi Resort. The resort quickly gained popularity due to its green spaces and open design, including a bar with an outdoor setup that became a hit with visitors.
“People loved it, and this encouraged us to expand,” she says.
A key component of Ufanisi’s expansion was sustainability. Inspired by her time in the US, where clean environments and tree-lined streets were common, Isabella decided to replicate that in Kisii.
She and her team planted hundreds of trees, transforming Ufanisi into a green oasis. “I wanted to create a space that not only looked beautiful but also embraced the environment,” she says.
However, her journey wasn’t without its hurdles.
As a female entrepreneur, Isabella found it challenging to access financing.
“Property ownership was mostly reserved for men, and expanding the resort required purchasing more land, which meant going to the bank,” she says.
Luckily, her husband was supportive, allowing her to use his property as collateral for loans. One of Isabella’s biggest financial backers was KCB Bank.
“Initially, many banks were hesitant to support our vision, but KCB believed in us,” she says. KCB provided the financing to help Isabella grow her facility.
Today, Ufanisi Resort boasts 56 rooms and continues to thrive, with KCB’s support playing a critical role in its success.
Ufanisi Resort has become a significant player in Kisii’s hospitality industry, offering amenities such as conference facilities, a restaurant, accomodation, a swimming pool and a garden bar.
“We cater to all types of guests, from corporate clients to families and young people,” Isabella says proudly. The resort has also created jobs for the local community, employing 70 people in roles ranging from housekeeping to gardening.
Reflecting on her entrepreneurial journey, Isabella offers advice to young women aspiring to follow in her footsteps.
“Believe in yourself. Nothing is impossible,” she says. “Growing up in a poor neighborhood, I never thought I’d own a successful hotel. But I believed in my vision, and with the right support, I made it happen.”
She’s particularly grateful for KCB’s continued support, both in her resort venture and other business endeavours, like running a petrol station in Kisii.
MOTHERHOOD-INSPIRED BUSINESS
Consolata Mwende, an entrepreneur based in Machakos County, is the proud owner of Micky’s Baby Shop, a thriving baby products business.
She started her journey in 2017, transitioning from a county government job to entrepreneurship after facing personal challenges as a new mother.
“After having my baby, I realised how difficult it was to access baby items in Machakos. I often had to send people to Nairobi to buy essentials. That’s when the idea of opening Micky’s Baby Shop came to me,” Consolata says.
Despite her determination, Consolata’s path to establishing Micky’s Baby Shop was not without its hurdles. Finding reliable suppliers was a significant challenge at the beginning.
“I didn’t know where to source baby products. I would go online, ask friends and contact suppliers to find the items I needed,” she says.
However, her persistence paid off. Since starting the business in 2018, she has expanded her operations, opening six branches in different locations, including Machakos, Wote, Kitui, Matuu and Embu.
From starting alone, Consolata now employs 12 people across her shops, a testament to the growth of her business. But as a woman in business, she says accessing financial support was initially tough.
“Women in business often face challenges in getting financing. It was difficult at first, but with the support of banks like KCB, things became more manageable.”
KCB’s Female-Led and Made Enterprises, FLME initiative, has been instrumental in Consolata’s journey. “KCB has really supported me. I bank with them, and through their FLME initiative, I’ve been able to access loans without providing collateral, as long as my account is active and in good standing.”
The flexible terms, especially the fair interest rates and the lack of stringent security requirements, have allowed Consolata to fund the growth of her business.
KCB’s FLME programme, designed to support female entrepreneurs, has played a crucial role in helping women like Consolata build sustainable businesses.
She reflects on the networking sessions and training she has participated in as part of the initiative. “These sessions are incredibly valuable. I’ve learned so much from other women entrepreneurs, especially about the importance of integrity, passion and empathy in business.”
Through these engagements, Consolata has gained insights into how to improve her business operations, maintain good relationships with her employees and foster a customer-centric approach.
Consolata’s advice to aspiring entrepreneurs is simple but powerful: “Start with what you have. You don’t need a lot of money to begin. Be honest with your clients and give your business the best you can. Set clear values and goals and work hard towards them.”
She emphasises the importance of discipline and structure, noting that having set business hours and being present in the day-to-day running of the business is crucial.
As a woman who has successfully navigated the challenges of entrepreneurship, Consolata Mwende’s story is one of resilience, determination and the power of supportive financial partnerships.
BUILDING FLOURISHING SCHOOLS
Edna Anassi, a dedicated entrepreneur, has been instrumental in running two successful educational institutions: Petercrest Academy and Elgon View College.
Her journey reflects resilience, passion and a strong commitment to providing quality education. Anassi credits much of her success to KCB Bank’s Female-Led and Made Enterprises, FLME programme, which has not only empowered her business but also provided financial support at critical moments.
Reflecting on her experience, Anassi expressed immense gratitude for the FLME initiative, which she describes as an empowering platform for women entrepreneurs.
“I would like to encourage as many women as possible to join the FLME initiative,” she said.
“You are not only empowered business-wise but you are also supported financially. KCB brings the opportunity right to your doorstep.”
Anassi’s relationship with KCB began when she became a director at Elgon View College and Petercrest Academy.
She recalls attending numerous workshops and seminars organised by KCB, where she learned essential business strategies that have had a lasting impact on her ventures.
“Every time I attended these meetings, a fire was lit within me,” she said. “The teachings I received became my strategy for the year, and they have been instrumental in my business growth.”
KCB’s support extends beyond just financial assistance. Anassi appreciates the bank’s holistic approach to customer care.
She has frequent discussions with her KCB relationship manager about the financial health of her business. This personalised attention has helped her grow and navigate the challenges of running educational institutions.
“KCB grows with you,” she said. “They do not just empower you and leave you; they support you every step of the way.”
Petercrest Academy, a testament to Anassi’s hard work and dedication, has become a respected institution since its inception in 2023.
Located in Eldoret, the academy offers a nurturing environment for children from preschool to Junior Secondary School.
Despite stiff competition in the education sector, Petercrest Academy has distinguished itself by focusing on quality education and creating a safe, supportive space for its learners.
Under Anassi’s leadership, Petercrest Academy achieved an impressive mean score of 88.6 in the past national KCPE exams, a reflection of the commitment to excellence shared by both the teachers and the students.
The academy’s growth, from humble beginnings to a full-fledged institution with more than 300 learners and 25 qualified teachers, is a source of pride for Anassi.
“We worked extra hours and put in smart, hard work to make it happen,” she said.
Anassi’s entrepreneurial journey is rooted in her family’s long history of education. Elgon View College, established by her parents in 1978, laid the foundation for the family’s dedication to quality education.
Anassi joined the family business with a background in marketing and public relations, skills she has effectively utilised to grow both institutions.
Her vision for the institutions goes beyond academic success. As a mental health champion, she has partnered with experts to ensure that Petercrest Academy offers a holistic education that prioritises the well-being of its students.
Anassi emphasised the critical role
that KCB Bank has played in her success. “KCB has been a very reliable
financial partner,” she said. “Their
support has enabled us to expand,
grow and continue offering quality
education to the next generation.”
