Equity Bank, IFC partner to launch Goldman Sachs' '10,000 Women' program for Kenyan entrepreneurs

Goldman Sachs 10,000 Women is a global initiative by Goldman Sachs that fosters economic growth by providing women entrepreneurs with business and management education, mentorship, networking opportunities, and access to capital.

It aims to empower women globally through a combination of in-person and online learning experiences, working with partners like the International Finance Corporation (IFC).

The initiative seeks to address the challenges faced by women-owned businesses in Kenya, particularly the significant gap in access to finance, estimated to be as high as 83% for women-owned micro, small, and medium-sized enterprises (MSMEs).

The 10,000 Women program by Goldman Sachs and delivered through the University of Leeds, offers entrepreneurs a practical business and management education through a series of ten online courses.

Participants will benefit from interactive activities and instruction from top business school educators, joining a global alumni network of over 200,000 entrepreneurs.

Equity Group will play a central role in mobilising, enrolling, and supporting cohorts of women entrepreneurs through the 20-week program.

The bank will leverage its established "Fanikisha program", an initiative launched in 2007, focused on financial literacy and business skills for women.

Invitations will be extended to women in Equity's Shaba, Almasi, Dhahabu, and Platini customer tiers, who are already part of the bank's ecosystem.

Dr James Mwangi, Equity Group MD and CEO, said the program's alignment with the bank's core mission.

"Equity Bank is deeply committed to empowering women in business to achieve their aspirations and driving financial inclusion across Kenya," he stated.

"Partnering with IFC for the 10,000 Women program enables us to offer world-class learning opportunities to our customers, ensuring they have the skills and knowledge to thrive. This program will leverage our extensive regional network and digital platforms to reach women entrepreneurs in every corner of the country."

The partnership underscores the vital role of SMEs as an engine of growth for the Kenyan economy, where they account for a significant portion of employment and GDP. Empowering women entrepreneurs is seen as a direct path to creating jobs, fostering economic diversification, and ensuring inclusive growth.

Jesman Chonzi, IFC's Manager for the Financial Institutions Group in East Africa, highlighted the strategic importance of the collaboration.

"Empowering women entrepreneurs is central to our mission of fostering inclusive growth and sustainable development," said Chonzi.

"IFC is committed to unlocking the potential of women entrepreneurs in Kenya, who are vital to driving economic growth and creating jobs. We are honoured to collaborate with Equity Bank Kenya and Equity Group Foundation to make this vision a reality."

Upon completion, participants will receive a certificate from Goldman Sachs and will be eligible to join the 10,000 Women alumni community, providing them with access to a global network of like-minded businesswomen for continued learning and networking opportunities.