KEPSA hosted the Invest in Women B2B Networking Forum on April 19, 2024, in Nairobi. The event convened various stakeholders, including small and medium-sized women-led enterprises and service providers such as investors, business development leaders, e-commerce platforms, logistics providers, and insurance companies. The forum aimed to promote investment in women-led/owned businesses by facilitating meaningful partnerships and collaborations essential for advancing gender equality and women's economic empowerment. In attendance were 35 women entrepreneurs and business partners such as ZOHO, Zydii, Britam, Stanbic Bank, Business Partner International (BPI), Scaling Up Nutrition (SUN) Movement, and Twiva.

Recognizing the pressing challenges faced by women entrepreneurs worldwide, including the staggering $300 billion financing gap for women-owned small businesses globally, KEPSA emphasized the urgent need to address existing barriers. Despite the proven potential of women-owned businesses to drive societal transformation, more than 70% of women-owned SMEs lack sufficient access to financial services. This forum served as a pivotal platform for discussing and strategizing solutions to overcome these obstacles, including linking with service providers who are providing women-centric products and services. 

Discussions delved into the various challenges hindering women's access to finance, including perceptions of risk, capacity gaps, lack of collateral, and regulatory frameworks that stifle women's participation in the private sector. Throughout the event, attendees had the opportunity to engage with the businesses and network. The forum not only provided valuable insights into investment opportunities but also offered practical strategies for business development and growth.

Key Takeaways

1. For effective advocacy, there is a need for collaborative and strategic alliances. This is critical in leveraging collective strengths and resources,  influencing to advance gender equality, fostering inclusive entrepreneurship ecosystems, and creating opportunities for women's economic empowerment.
2. Women entrepreneur Associations such as the Kenya Women Business Owners (KAWBO), which is a member of KEPSA provide opportunities and access to resources, positioning members to seize available opportunities and also providing credibility. 
3. For women entrepreneurs seeking finance and support, understanding the problem being addressed, identifying target clients, and recognizing competitive advantages are crucial steps. It's essential to have a comprehensive understanding of your business, competitors, future projections, key metrics, and external factors.
4. All business owners require insurance, whether for personal or business needs, to safeguard their financial future. Creating the future involves proactive planning and optimization of business assets. Key pillars for optimization include setting financial goals, effective money management, obtaining medical coverage, insurance for family security, and asset protection. Action steps for insurance planning encompass self-development, education, homeownership, investment decisions, risk management, family security, retirement planning, and seeking financial advice.
5. Utilizing digital platforms is crucial for both business and personal branding and marketing, enabling access to a broader market and various opportunities that contribute directly to growth. E-commerce offers benefits such as 24/7 availability, quick access, extensive product selection, ease of use, global reach, cost-effectiveness, and personalized recommendations. In Kenya, popular e-commerce platforms include Copia, Jiji, Jumia, My Dawa, Kilimall, Alibaba, Amazon, and Facebook Marketplace.
6. Women entrepreneurs were encouraged to digitize their businesses. Digitization offers various benefits to women entrepreneurs, such as expanding market reach, improving operational efficiency, reducing costs, and accessing valuable data for decision-making.
7. In addition, various service providers present in the event provided discounted services to women entrepreneurs who participated in the event; for example, Britam will provide a 10 percent discount to all the participants who sign up for their medical coverage for their employees in the next four months. In addition, Zoho extended discounted rates to all the businesses owned and led by the participants in the event, which shall be determined by factors such as the size of the business. 
8. These represent significant opportunities for women entrepreneurs to access essential resources at a reduced cost, thereby facilitating their business growth and sustainability. By leveraging discounted services and support networks, women entrepreneurs can overcome barriers and achieve their full potential in the business landscape. KEPSA will follow up on these opportunities to ensure that the benefits promised to women entrepreneurs are realized effectively. 
9. Overall, the outcomes from the event, like these discounted rates for services that are needed by women entrepreneurs to run their businesses, demonstrate a collaborative effort among stakeholders to create an enabling environment for women entrepreneurs to thrive, driving economic growth, innovation, and social development. 

In essence, the Invest in Women B2B Networking Forum was a testament to the collective efforts of stakeholders committed to championing gender equality and women's economic empowerment. This is further amplified by KEPSA’s continued efforts to spearhead initiatives that create a more equitable and supportive environment for women in business.