NFNV Kenya signs a deal with Kayana to support women-led SMEs

NAIROBI, Kenya, Dec 1 – New Faces New Voices (NFNV) Kenya has partnered with Kayana, a community of female entrepreneurs, to support women-led small businesses financially.

They aim to achieve this by using insurance products for risk mitigation, which will enable them to survive business shocks and give them a solid platform to grow.

NFNV and Kayana convened a pilot group of women-led businesses to raise their awareness about the risks their businesses face and how to mitigate those risks.

NFNV Chairperson Caroline Armstrong-Ogwapit said that NFNV recognises the need to ensure that micro and small businesses, especially those that are women-led, are exposed to multiple risks that link individuals and the business.

“Insurance plays an important role in safeguarding these businesses against unforeseen events and NFNV has embarked on a journey to empower female entrepreneurs with the knowledge and tools necessary to leverage insurance for their business continuity and growth,” stated Armstrong.

She stated that the focus group engaged multiple insurance companies in the long programme to ensure that the entrepreneurs’ needs were at the centre of the solution design.

“Women-owned small businesses are helping to power Kenya’s small business boom and New Faces New Voices remains committed to ensuring women access the capital, resources and skills they need to build resilient businesses and create jobs to fuel our economy,” she added.

Kayana co-founder Patricia Okelo stated that the partnership will facilitate the co-creation of a gender-responsive insurance product specifically designed to address the unique needs of female entrepreneurs in the country.

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