By Eddah Waithaka
Kayana Create, a prominent platform dedicated to empowering women entrepreneurs, is pleased to announce the nominees for the prestigious Kayana Female MSME Awards 2024.
The 2024 Kayana Female MSME Awards, presented by Kayana Create, will highlight the outstanding achievements of female entrepreneurs in Kenya and internationally.
Now in its third year, the event will recognize their creativity, perseverance and impact in driving economic development and creating positive social change.
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The gender dynamics within Kenya’s SME landscape present a nuanced picture. Of Kenya’s SMEs, 31.4 per cent are female-owned, while 48 per cent are male-owned, with the remaining 17 per cent co-owned by both genders.
Interestingly, 61% of unlicensed small and medium enterprises (SMEs) are run by women, demonstrating their entrepreneurial drive even in the face of obstacles such as compliance difficulties.
Women-owned small and medium-sized enterprises (SMEs) face a significant barrier to accessing seed capital, mainly due to the stringent collateral requirements imposed by financial institutions. This challenge is exacerbated by a lack of basic entrepreneurial skills.
The Kayana Female MSME Awards, formerly known as the D.E.A.R MSME Awards, is a commitment to creating an environment where women entrepreneurs can thrive.
With over 1000 nominations received across nine different categories, the awards recognize businesses that have
demonstrated excellence in areas such as community impact, environmental sustainability, and the innovative use of technology.
Speaking at the press conference, Patricia Okelo, co-founder of Kayana Create, emphasised the critical role of ensuring companies are investor ready before seeking funding.
She said, “Access to funding is often hindered when the quality of the business isn’t prepared to receive it.”
Okelo stressed the importance of viability and the investment in the entrepreneur themselves to foster business growth.
Additionally, she highlighted the support provided by Kayana awards in recognizing and spotlighting women entrepreneurs.
Victor Otieno, Managing Director of Viffa Consult, highlighted the scarcity of storytelling opportunities for women entrepreneurs, noting that 95% of small businesses are micro-businesses, making it a lonely journey for many.
“There is a hunger for storytelling, but many women don’t get the opportunity,” he said. Otieno explained how this led to a surge in entries for the awards, with submissions coming from all over the country.
Emma Omany, founder of Busu Naturals and a previous winner of the award, talked about how the award had significantly boosted her confidence and catalysed the expansion of her business.
“The award boosted my confidence and opened doors to new opportunities,” she said.
Omany highlighted how the award provided access to funding opportunities and capacity-building initiatives, such as a training programme in Switzerland, which strengthened their business acumen, encouraged innovation and facilitated the diversification of their product range.
“We are thrilled to honor the outstanding contributions of women entrepreneurs through the 2024 Kayana Female MSME Awards,” said Patricia Okelo, Founder and CEO of Kayana Create.
“These awards not only celebrate the accomplishments of individual businesses but also highlight the collective
strength and resilience of women in business, driving positive change and innovation across various
sectors.”
This year’s nominees include ground-breaking companies such as MRX Media Limited, Spectrum Engineering and Essenpark Limited, each of which exemplify excellence in their respective fields.
These businesses showcase the diverse and significant efforts of women entrepreneurs in Kenya and around the world, from strengthening community unity to advocating for environmental sustainability.
As well as celebrating individual achievements, the Kayana Female MSME Awards highlight the importance of collaboration and partnership in driving business success.
By spearheading programmes such as the Kayana Female MSME Awards, Kayana Create is committed to empowering women entrepreneurs by providing them with the support, tools and recognition they need to succeed in today’s challenging business environment.
Voting for the 2024 Kayana Female MSME Awards is now live. The community is invited to participate and support their favourite nominees.
Winners will be announced at a grand gala event scheduled for 15 June 2024. This prestigious ceremony will honour their extraordinary efforts in promoting entrepreneurship and economic empowerment.
