Small and Medium Enterprises (SMEs) in Kenya are the backbone of our economy, accounting for over 98% of all businesses. However, one critical aspect often overlooked is the significant role women play in these ventures.

According to a report by the International Finance Corporation (IFC), women-owned SMEs in Africa contribute up to 40% to GDP and create over 60% of jobs. In Kenya, statistics show that women-led businesses are outperforming their male counterparts in terms of job creation.

Take for instance, Florence Kariuki, the founder of Kurekani Coffee, a specialty coffee company based in Nyeri County. Florence started with a modest loan and has since grown her business into an international brand, employing over 500 people, mostly women.

Despite these success stories, challenges persist for women entrepreneurs. Access to finance remains a significant hurdle, with women receiving less than 1% of all formal credit in Kenya. Cultural norms and stereotypes also hinder progress, as women often face barriers in decision-making positions.

To level the playing field, SMEs can implement strategies that promote gender equality. This could include setting diversity targets, offering training programs for women, and providing flexible work arrangements to accommodate family responsibilities.

Lipabiz Technologies Ltd, a business management and payments platform, can play a crucial role in this journey. Our platform offers tools that enable businesses to manage their finances effectively, making it easier for them to secure loans and grow sustainably.

In the words of Florence Kariuki, 'If you have an idea and you really believe in it, don't let anyone discourage you.'

Let us strive to create an environment where every entrepreneur, regardless of gender, has the opportunity to thrive.