White House set to invest Sh3.2b in Kenyan women
Barry Silah @obel_barry
White House-led Women’s Global Development and Prosperity (W-GDP) will mobilise $30 million (Sh3.2 billion) in commercial investment and finance for women entrepreneurs in Kenya, senior US officials have said.
The funds would be channelled through US Agency for International Development (USAid)’s Kenya Investment Mechanism over the next three years.
US Ambassador to Kenya Kyle McCarter and Acting Administrator of the (USAID) John Barsa highlighted three activities under the White W-GDP initiative partnering with the private sector to invest in women entrepreneurs and women-owned businesses.
McCarter said women must be full participants and leaders in business for Kenya to reach its full economic potential.
“USA marafiki recognises that economic prosperity is essential to Kenya’s future and our top priority is supporting expanded trade and investment ties between our two countries,” he added.
“Women are a tremendous force in our economies and this programme will give them the tools to access financial services, supporting our objectives under the W-GDP Initiative.”
The other two activities represent powerful private sector partnerships that will work to empower Kenyan women.
A global commitment of $5 million (Sh542 million) for the W-GDP Microsoft Women’s Digital Inclusion Partnership will support Microsoft’s Airband Initiative.