(Kenya) – KCB Bank’s Female-Led and Made Enterprise (FLME) program is making a significant impact on women entrepreneurs across East Africa, offering crucial support to help them overcome financial barriers and grow their businesses.
KCB, a leading bank in Kenya, has been empowering women entrepreneurs through initiatives that provide access to credit, business training, and mentorship. In 2022, KCB committed KSh 250 billion over five years to support female entrepreneurs across Kenya, Uganda, and Tanzania. The FLME program is a vital part of this initiative, helping women overcome financial hurdles and succeed in their ventures.
In Sub-Saharan Africa, women make up 58% of the continent’s self-employed population. However, they often face challenges in accessing formal financial services, with only 20% of women entrepreneurs having access to such services, according to the 2022 Africa Sustainable Development Report by UNDP. The FLME program aims to address these gaps and promote gender equality through increased economic empowerment for women.
KCB’s investment in women entrepreneurs has made a significant impact on several women’s lives. Below are the stories of three women who have benefited from the FLME initiative.
| Entrepreneur | Business | Location | Impact of KCB Support |
|---|---|---|---|
| Isabella Lumumba | Ufanisi Resort | Kisii County | Expanded from 12 to 56 rooms; created jobs for 70 locals |
| Consolata Mwende | Micky’s Baby Shop | Machakos County | Expanded to 6 branches; employed 12 people |
| Edna Anassi | Petercrest Academy, Elgon View College | Eldoret | Improved educational facilities and enrollment; employed over 25 teachers |
Isabella Lumumba: From Teacher to Hotelier
Isabella Lumumba’s entrepreneurial journey began after a career as a teacher in Nakuru and a stint abroad in the United States. Realizing that teaching was no longer fulfilling, Isabella shifted to the hospitality industry and founded Ufanisi Resort in Kisii. She identified a gap in the market for quality accommodation in the region, offering a comfortable environment for families and corporate clients. Initially starting with just 12 rooms, the resort rapidly expanded as it became popular for its green spaces and unique design.
However, Isabella faced significant challenges when seeking financing to expand the resort. “Property ownership was mostly reserved for men, and expanding the resort required purchasing more land,” she says. With support from her husband and KCB Bank, she was able to secure the financing needed. Today, Ufanisi Resort boasts 56 rooms and has become a key player in Kisii’s hospitality industry. Isabella credits KCB’s support as pivotal in her success.
Consolata Mwende: A Motherhood-Inspired Business
Consolata Mwende, the founder of Micky’s Baby Shop, started her business in 2017, driven by the challenges she faced as a new mother. Unable to find baby products in Machakos, she opened a shop to cater to the needs of mothers in the region. Although finding reliable suppliers was challenging, Consolata persevered, and her business has since expanded to six branches in various towns.
Accessing financial support was difficult at first, but with KCB’s FLME initiative, Consolata was able to access loans with flexible terms and without stringent collateral requirements. She credits the program for helping her business grow and emphasizes the importance of networking and learning from other women entrepreneurs.
Edna Anassi: Providing Quality Education
Edna Anassi’s entrepreneurial journey is rooted in education. She is the director of two educational institutions: Petercrest Academy and Elgon View College. The FLME program has been instrumental in helping her grow both schools. Anassi has participated in numerous KCB workshops and credits them for providing valuable business strategies that contributed to the success of her institutions.
Petercrest Academy, which was established in 2023, offers a nurturing environment for children and has seen remarkable success, with over 300 students enrolled. The school’s focus on quality education and student well-being has made it a respected institution in Eldoret. Anassi also credits KCB for its personalized support, which has helped her navigate the challenges of running an educational institution.