Kayana Create, a leading platform dedicated to empowering women entrepreneurs, proudly announces the nominees for the prestigious 2024 Kayana Female MSME Awards.
This annual event, now in its third year, 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.
Small and Medium Enterprises (SMEs) are the backbone of global business, constituting 90 percent of businesses worldwide.
In Kenya, these enterprises play a pivotal role, contributing approximately 40% to the Gross Domestic Product (GDP). Moreover, SMEs represent a staggering 98 percent of all businesses in the country, generating 30 percent of new jobs annually.
Gender dynamics within Kenya’s SME landscape reveal a nuanced picture. Of the SMEs in Kenya, 31.4 percent are female-owned, while 48 percent are male-owned, with the remaining 17 percent co-owned by both genders. Interestingly, women lead 61 percent of unlicensed SMEs, highlighting their entrepreneurial spirit despite facing hurdles such as regulatory compliance challenges. Access to startup capital remains a significant obstacle for women-led SMEs due to stringent collateral requirements imposed by financial institutions, further compounded by a lack of necessary entrepreneurial skills.
The Kayana Female MSME Awards, formerly known as the D.E.A.R MSME Awards, represent a commitment to fostering a nurturing environment where women entrepreneurs can flourish. 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.
“We are thrilled to honor the outstanding contributions of women entrepreneurs through the 2024 Kayana Female MSME Awards,” said Patricia Okelo, Founder and CEO of Kayana Create.
“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.”
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.
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.
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.
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.
For more information about the 2024 Kayana Female MSME Awards and to cast your vote, visit Kayana Create’s website. https://www.kayana.org/msme-awards-2024
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