A new report has revealed that while more Kenyan women are venturing and owning businesses, their businesses struggle to remain sustainable and grow.
In the report by Mastercard, 93 per cent of Kenyan women with nine in every ten women consider starting or running their own businesses far higher than the regional average of 51 per cent who are likely to consider themselves entrepreneurs across Eastern Europe, the Middle East, and Africa (EEMEA). However, these businesses struggle to stay afloat compared to the businesses in other countries.
According to the report, Kenyan women in businesses are faced with a myriad of challenges including lack of funding being the biggest reason, representing 53 per cent.
Other challenges are a lack of financial resources at 44 per cent and the difficulty in securing startup capital at 34 per cent.
