WONDER program celebrates the graduation of Cohorts 2 and 3

The WONDER Program (Women-led Opportunities through Networking for the Development of Entrepreneurial Resources) has celebrated the graduation of 65 women SMEs.

Funded by the African Development Bank's Affirmative Finance Action for Women in Africa (AFAWA) initiative and implemented by the E4Impact Foundation in collaboration with the Italian Agency for Development Cooperation (AICS) – Nairobi, the WONDER Program is dedicated to enhancing investor readiness and promoting the sustainability of women-led enterprises.

 The graduation of these cohorts marks a significant stride in addressing the $42 billion financing gap for women in Africa, paving the way for innovation, sustainability, and market growth.

Access to financial services is crucial for promoting inclusive growth, especially for women entrepreneurs. Innovative financial solutions are pivotal in overcoming the barriers that often limit the success of women-led businesses, allowing them to grow and contribute to broader economic development. Launched in March 2022, the WONDER Program has completed three cohorts, supporting a total of 150 women entrepreneurs—90 in Kenya and 60 in Cameroon.

The inaugural call for applications in Kenya, launched in December 2022, saw 27 companies undergo a rigorous selection process to become the first cohort of WONDER Program beneficiaries. These enterprises, representing diverse sectors, laid the foundation for the program's transformative impact.

The subsequent call for applications for the 2nd and 3rd cohorts in October 2023 attracted over 250 submissions from various industries, reflecting widespread interest and demand. Selected participants embarked on an intensive nine-month accelerator program, receiving tailored business development support, expert mentorship, and unparalleled networking opportunities.

The graduates of Cohorts 2 and 3 exemplify the program's commitment to fostering innovation, sustainability, and resilience within the entrepreneurial ecosystem. Their accomplishments highlight the importance of investing in women-led enterprises to drive economic transformation and create sustainable, community-driven solutions.

The WONDER Program has provided the SMEs with valuable networking opportunities, including sponsorship to exhibit at prominent events such as the Kenya Innovation Week. 

One of the SMEs Pauline Otila, the founder and CEO of Apiculture, had the opportunity to attend COP29 in Baku, Azerbaijan, further expanding her global network. The program has also played a crucial role in enhancing the success of women-led enterprises in securing funding, facilitated through collaborations with commercial banks and initiatives like the Jiinue Program.

Additionally, the program has equipped women with a deeper understanding of financial compliance and the essential documents needed to access financing, empowering them to navigate the financial landscape more effectively.