Kenya Top Stories


2024 Kayana Female MSME Awards nominees announced

By Edna Okoth

Kayana Create, a leading platform dedicated to empowering women
entrepreneurs, dubbed Kayana Create, announces the nominees for the prestigious 2024 Kayana Female MSME Awards at an annual event that shines a spotlight on the remarkable achievements of female entrepreneurs in Kenya and beyond, celebrating their innovation, resilience, and leadership in driving
economic growth and social impact.

Speaking during the event,Founder and CEO of Kayana Create,Patricia Okelo noted that they are thrilled to honor the outstanding contributions of women entrepreneurs through the 2024
Kayana Female MSME Awards.

“These awards not only celebrate the accomplishments of individual businesses but also highlight the collective
strength and resilience of women in business, driving positive change and innovation across various
sectors and among this year’s nominees are pioneering businesses such as MRX Media Limited, Spectrum Engineering, and Essenpark Limited, each exemplifying excellence in their respective fields from
fostering community cohesion to promoting environmental sustainability, these businesses represent the diverse and impactful work being done by women entrepreneurs in Kenya and beyond,” she added.

She also added that, in addition to recognizing individual achievements, the Kayana Female MSME Awards also highlight the importance of collaboration and partnership in driving business success.

“Through initiatives such as the Kayana Female MSME Awards, Kayana Create aims to provide women entrepreneurs with the support, resources, and recognition they need to thrive in today’s competitive business landscape and the public voting phase for the 2024 Kayana Female MSME Awards is now open, allowing members of
the community to show their support for their favorite nominees and winners will be announced at a gala ceremony scheduled for June 15, 2024, where they will receive recognition for their outstanding
contributions to entrepreneurship and economic empowerment,” she concluded.

It was also noted that Small and Medium Enterprises (SMEs) are the backbone of global business, constituting 90 percent of
businesses worldwide and in Kenya, these enterprises play a pivotal role, contributing approximately 40% to the Gross Domestic Product (GDP) and, SMEs represent a staggering 98 percent of all businesses
in the country, generating 30 percent of new jobs annually.

Moreover, Gender dynamics within Kenya’s SME landscape, reveal a nuanced picture of the SMEs in Kenya, stating that, 31.4 percent are female-owned, while 48 percent are male-owned, with the remaining 17 percent co-owned by both genders, additionally, women lead 61 percent of unlicensed SMEs, highlighting their entrepreneurial spirit despite facing hurdles such as regulatory compliance challenges.

Due to stringent collateral requirements
imposed by financial institutions, access to startup capital remains a significant obstacle for women-led businesses and further compounded by a lack of necessary entrepreneurial skills.

D.E.A.R MSME Awards, also known as The Kayana Female MSME Awards represent a
commitment to fostering a nurturing environment where women entrepreneurs can flourish and with over 1000 nominations received across nine different categories, the awards recognize businesses that have demonstrated excellence in areas such as community impact, environmental sustainability, and the innovative use of technology.

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