- Kenyan women are surpassing their regional peers in entrepreneurial abilities, as indicated by a recent survey which reveals that 93% of them either run or plan to start a business.
- The latest report from Mastercard indicates that the numbers exceed the regional average of 51% for Eastern Europe, the Middle East, and Africa.
- The entrepreneurial drive among women is robust and expanding, with the newer generation at the forefront.
Boniface Otieno, who works as a journalist for INSPIRATIONS DIGITAL.co.ke, possesses over a decade of experience in finance, economics, business, market analysis, and aviation. He offers valuable perspectives on both Kenyan and international developments.
Kenyan women are surpassing their regional peers in terms of entrepreneurship, as indicated by a recent study which reveals that nine out of ten, accounting for 93%, are either contemplating starting or currently managing their own enterprises.
The report, unveiled before last week’s celebration of International Women's Day, indicates that the entrepreneurial drive among women is robust and expanding, with the younger generation at the forefront.
"By having access to appropriate financial instruments, mentoring, and digital resources, female entrepreneurs can uncover new business prospects, foster innovation, and make substantial contributions to economic growth," stated Selin Bahadirli, Executive Vice President of Services for Eastern Europe, the Middle East, and Africa at Mastercard.
Boomers and Gen X Taking the Lead
According to the survey, 93% of Baby Boomers and 96% of Gen X women exhibit somewhat stronger entrepreneurial abilities compared to younger generations such as Gen Z with 85%, and Millennials at 89%.
Significantly, Kenyan Gen X women are increasingly turning to entrepreneurship and taking up additional work—80% of these women participate in earning pursuits outside their main employment roles. They are trailed closely by Gen Z women, who have a participation rate of 79% in such activities.
Why More Kenyan Women Are Choosing Entrepreneurship
According to Mastercard’s findings, various reasons encourage Kenyan women to initiate their own ventures or take up supplementary projects: seeking extra earnings (77%) tops the list, followed closely by attaining economic self-reliance (68%). Additionally, 49% aim to establish a fiscal buffer, 45% wish to follow individual aspirations and interests, and around 41% desire improved balance between professional duties and personal life.
Prominent Industries for Female Entrepreneurs in Kenya
Kenyan women have a wide range of entrepreneurial pursuits, spanning various industries. The study indicates that female business owners are most prevalent in Agriculture at 35%, followed by Business Services at 30% and Food and Drinks at 22%.
Bahadinli noted that these sectors mirror Kenya’s economic environment, with agriculture being essential, and food-based enterprises along with service-oriented companies providing easy access points and growth potential.
Support needed
To surmount these obstacles in operating businesses within the nation, Kenyan women pinpointed essential facilitators that could aid their success. These included entrepreneurial networks (48%), business planning education (46%), and greater access to grants (45%).
The upcoming survey arrives as INSPIRATIONS DIGITAL.co.ke It has been reported that Kenyan women have higher employment rates compared to men.
The survey conducted by Tala indicated that women make up only 36% of the workforce in businesses when compared to men.
Nevertheless, the study carried out last year indicated that Kenyan women encounter difficulties such as obtaining business funding and managing their personal lives while establishing a venture.
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