Gender in Focus - Affirmative Finance Action for Women in Africa-Funded Training Gives Women Entrepreneurs Tools and Confidence to Grow

4 April 2024
Content from a Premium Partner
African Development Bank (Abidjan)
announcement

Editor's note: The African Development Bank's Affirmative Finance Action for Women in Africa initiative aims to increase access to financing for the continent's women-run business, to grow their commerce. This AFAWA effort includes a Women Entrepreneurship Enablers Program, which provides up to $250,000 in grant funding to women's business associations, incubators, accelerators and cooperatives that advance women's entrepreneurship. Inductees to the Enablers Program have provided more than 5,000 women-owned and led businesses with capacity development training.

We asked one of these trainees, Quinter Omani, based out of Athi River, Kenya, about her experience in the program and the challenges she faces trying to grow her startup.

Responses have been edited for clarity and space.

Question: Tell us a little bit about your company, Ignarayn.

Omani: We are a made-in-Kenya, ladies fashion brand. We focus on the professional woman inside and outside the office. We want to be part of their stories and their journeys. We make outfits that make you look professional without looking too standoffish.

Question: You seem rather established - what are you learning through the Women Entrepreneurship Enablers program that you didn't already know?

Omani: We had access to experts, online classes and to master classes, and these have helped me learn how to bring structure to my business. I started my business out of my house and I started as one person. Now I have employees and I have to structure the business to run when I am not there. Now, this is happening. All the production is out of my house, and we'd like to get a flagship store and production space in Nairobi City county, to avoid losing out on customers or clients who cannot make it all the way to Athi River [30 kilometers southeast of Nairobi].

I have contracts for my employees that never used to be there. So now I have the confidence that I can run and manage a business. I have confidence in my leadership skills, that I can steer the business towards growth. Now we are doing $1,000/month and I believe we can triple that if we get the financing we are looking for.

Question: So what's keeping you from walking into a bank and getting a loan, then getting a nice shop?

Omani: Banks just believe in traditional businesses; they don't see the vision of online businesses and what we are doing on our platform and website - they don't understand that. To give you a loan they want a physical location with a license - my house does not have a license because it is not a shop. That is why we are looking for a shop so we can be commercialized and be recognized as a business by the bank.

Question: To what degree do you feel your participation in the Women Entrepreneurship Enablers program is an investment in your future and that of your company?

Omani: The Women Entrepreneurship Enablers program introduced me to the "know how" of networking and its importance, and how to leverage networks to take my business to the next level. It also enhanced my skills in pitching [a business plan] that is essential to acquiring funding for future growth and expansion. It also gave me insight on how to leverage debt to achieve growth in a short period of time.

To learn more about AFAWA's Women Entrepreneurship Enablers program, watch our video.

AFAWA enjoys support from participating G7 countries, France, Italy, Canada, Germany as well as the Netherlands, Sweden, and the Women Entrepreneurs Finance Initiative (We-Fi).

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