The recently concluded Absa InspireMe Conference in Nairobi was one of the largest gatherings of women entrepreneurs in Africa.
The two-day conference, hosted by Absa Bank Kenya in partnership with the International Trade Centre SheTrades, aimed to facilitate market linkages, B2B networking, and business mentorship for women entrepreneurs.
It brought together 10,000 women from various Absa participating countries, including Kenya, Ghana, Zambia, Mauritius, and Uganda, as well as countries under SheTrades Hubs in Africa, such as Rwanda, South Africa, The Gambia, and Nigeria.
The welcome event featured several panel sessions focused on key topics across women’s entrepreneurial and export development: accessing finance, navigating the digital marketplace, and leveraging the African Continental Free Trade Area.
Key speakers included the President’s Adviser on Human Rights Harriet Chiggai, Kenya’s Cabinet Secretary for Investments, Trade & Industry, Hon. Rebecca Miano, The UK Regional Trade Advisor for East Africa, Mr. Jamal Hussain and Absa Bank Kenya Managing Director, and CEO Mr. Abdi Mohamed, among others.
During the panel discussion, a few remarks were made on some of the things women entrepreneurs require to succeed in business.
The major points highlighted were confidence and competence. The players were advised to embrace both success and failure in equal measure to achieve major success in a business.
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The speakers further looked into some of the challenges hindering women entrepreneurs from reaching their potential, among them risk aversion and the burden of household responsibilities.
To address these challenges, women entrepreneurs were encouraged to engage in various mentorship programs including being part of formal business communities or trade organizations like KNCC.
During the conference, select women-led businesses from the agrifood, textiles and apparel, handicrafts, and accessories sectors engaged in one-to-one business meetings with 11 UK buyers and representatives from 20 large African corporations.
These interactions aimed to explore investment opportunities and enhance market access for SME entrepreneurs.
Representatives from International Trade Centre SheTrades Hubs also discussed potential collaborations with delegates from the Greater Birmingham Chamber of Commerce and Industry, Chamber International, and West and North Yorkshire Chamber of Commerce and Industry, as well as export opportunities through the UK Developing Countries Trading Scheme.
Speaking during the event, CS Miano, shared her ministry’s ambition to scale investments in the country, focusing on manufacturing and highlighting the crucial role of women in achieving this goal.
She commended Absa Bank Kenya for its efforts in unlocking opportunities for women-led enterprises by facilitating access to information, mentorship, networking opportunities, markets, and sustainable finance.
On her part, Hon Harriette Chiggai highlighted the crucial roles women-led businesses play in a country, hence the need to support them to overcome the constraints of accessing finance, as well as market information and networks.
“This two-day Absa InspireMe Conference is a call to action, as a community, to dismantle the barriers that still stand in the way of women’s entrepreneurial success.” She said.
“Emphasis should be on women-led SMEs by supporting them to overcome the constraints of accessing finance, as well as market information and networks. I am happy to note that the Absa InspireMe Conference is very much aligned with this objective,” she added.
Absa Bank CEO & MD Abdi Mohamed underscored the significance of the forum in facilitating stakeholder engagement to address business challenges faced by women-owned businesses and identify opportunities for growth.
He cited a McKinsey Report, noting that full economic participation by women could add USD 12 trillion to global GDP by 2025.
launched in 2021 under Absa Bank’s women in business proposition, The Absa InspireMe Conference is an annual conference, aimed at facilitating market linkages, B2B networking, and business mentorship for women entrepreneurs.
Since its launch, it has successfully united over 8,000 women across Africa, offering them the chance to learn from mission-driven women business leaders in Ghana, Zambia, Uganda, and Kenya.
The 2024 conference themed “Empowering Your Story for Growth,” took place on 18-19 June. Official partners for the conference are Finance in Motion, Africa Guarantee Fund, and APA Insurance.