NAIROBI, Kenya, July 17 – The COMESA Federation of Women in Business (COMFWB) Secretariat has unveiled a business incubator program targeting African women.
Dubbed BIAWE 2, the pilot project, which is co-funded by the Spanish Fund, has been started in Kenya.
Trade and Investments Cabinet Secretary Moses Kuria said empowering women entrepreneurs was of essence since they contribute immensely to the economy.
“The forty women enterprises who benefitted from BIAWE Project Phase I will continue to thrive and mature into sustainable and large enterprises,” said Kuria during the launch of the initiative.
Delegates at the event, however, stressed out that women entrepreneurs still face immense challenges because they lack business planning, marketing, and management skills in the face of limited access to business development and financial services that are culturally biased.
“There is an immense need to bridge these gaps and create an enabling environment for women entrepreneurs to thrive,” Secretary General of COMESA Chileshe Mpundu said.
The BIAWE 2 project is set to provide women entrepreneurs with business incubation services, mentorship, training, access to markets, and financial support.
This, the organization hopes, will unlock the potential of women-owned enterprises, which will step up Kenya’s economic growth.
Its launch precedes the success of its predecessor, BIAWE 1, and aims to empower women entrepreneurs in Africa by providing them with the necessary support and resources for business incubation.
