A multifold of five thousand women have been projected to gain from the new partnership of Absa bank with Unilever’s Sunlight project to promote their entrepreneurial ventures.
“We are happy to be part of this partnership as it will go a long way in addressing historic challenges that face women entrepreneurs and support them grow,” explained Elizabeth Wasunna, the bank’s director in Business Banking.
Initially launched in 2020, the “Sunlight Women of More” program is a five-year program that was launched to support the endeavors of an estimated one hundred thousand women by 2026 through an array of initiatives that include financial literacy, entrepreneurship, and innovation.
The initial phase of the project ensured the training of fifty women with the partnership with the United Nations Institute for Training and Research (UNITAR) and Absa Bank Kenya calculated to scale up the numbers by a hundred-fold.
“We are excited to join the ‘Sunlight Women of More’ program in order to support thousands of women who will now be given the opportunity to reach their full potential,” offered Mihoko Kumamoto UNITAR’s director for Division for Prosperity.
“Women need to become leaders and agents for change in their communities and societies – programs such as ‘Sunlight Women of More’ greatly increase this likelihood,” she embraced.
Eligibility for this opportune chance requires that one must have owned a business in operation for at least one year and an invitation to entry will be placed on the UNITAR platform from 21st June to 20th July 2021.
Available statistics state that women-owned enterprises are making a significant contribution to the Kenyan economy, accounting for almost half of all micro-small and medium-sized ventures.
“The COVID-19 pandemic has given rise to more entrepreneurs, and we believe that with the right financial literacy, these businesses can grow exponentially,” Elizabeth Wasunna sensitized.
The campaign is primarily focused on three pillars, media, education, and shopper to fulfill its guarantee. This will see to it that the media pillar donate its media spaces to support these businesses by creating visibility through Digital, Radio, and ad spaces such as billboards. The Shopper offers spaces to the women for them to market their products through its in-store activations and the education pillar to offer training on financial, literacy, marketing skills, and digital marketing.
According to the bank, there is a need to encourage as many women entrepreneurs as possible to register their businesses, formalize their operations and maintain good records of their transactions.
“These are important factors that not only determine entrepreneurs’ ability to attract investment and credit but also scale their businesses to the next level” Ms. Wasunna added.