Kenyan Women Entrepreneurs To Benefit From Sh3.2bn White House Initiative
Kenyan women are expected to benefit from a Sh300 million fund under the White House led Women’s Global Development and Prosperity Initiative, with an aim of empowering them economically.
The program was launched on Monday by the visiting Acting Administrator of the US Agency for International Development (USAID) John Barsa.
The 3-year initiative will see the White House led Women’s Global Development and Prosperity Initiative spend Sh3.2 billion in commercial investment and finance for women entrepreneurs in the country.
Speaking during the launch attended by US Ambassador to Kenya Kyle McCarter, the USAID boss pointed out that investment in women is key to unlocking the country’s economy.
“Global prosperity will remain out of reach if we exclude half the population. At USAID, we believe investment in women is key to unlocking human potential on a transformational scale,” Barsa said.
“The W-GDP Fund at USAID is financing innovative solutions to close the economic gap between women and men and help our partners advance on their Journeys to Self-Reliance.”
Ambassador McCarter said through the initiative, the US Government alongside players within the private sector hopes to close the economic gap between women and men.
Through the program, Women’s Global Development and Prosperity Initiative want to assist Kenyan women to overcome digital access challenges and help them enter fields like energy and water, that are traditionally male-dominated.
“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,” Ambassador McCarter said.
“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.”