By Kelly Brantner | CEO
We are thrilled to share with you the remarkable progress and achievements of the microbusiness incubator initiative in Kenya, made possible through your generous support and dedication. As we wrap up this phase of our journey, we are filled with gratitude, excitement for new beginnings, and a profound sense of accomplishment.
In our previous update, we introduced you to the three cohorts of budding entrepreneurs participating in the incubator across the Homa Bay region. These determined women embarked on their entrepreneurial journey by participating in the Street Business School program, where they delved into the essentials of business management.
Since then, all cohorts have successfully completed the formal learning and received their well-deserved business launch grants. Transitioning into the coaching phase, our participants are now equipped with tailored support to navigate the challenges of entrepreneurship.
Out of the 90 remarkable women, an astounding 98% have successfully launched their own businesses. Their ventures span a diverse array of sectors, including fresh egg stands, fish sales, fresh produce vending, and various retail and service operations. These success stories underscore the resilience and adaptability of our participants.
The coaching process has been instrumental in guiding our entrepreneurs, with regular site visits providing invaluable insights and support. While addressing a wide range of topics, our focus on promoting financial resilience through savings initiatives has been particularly impactful. Through guided discussions and practical strategies, participants have embraced the importance of setting aside earnings for future investments and emergencies, fostering a sustainable approach to financial planning.
As we look ahead, we are thrilled to announce the graduation ceremony on March 8th, where all 90 women will come together to commemorate their achievements and celebrate their journey towards entrepreneurship.
In total, the incubator has facilitated the launch of 140 businesses in Homa Bay, a testament to the resilience and potential of the local community. We are immensely proud of what these women have accomplished and deeply honoured to have played a role in their entrepreneurial journey.
While this phase of our project is concluding, it marks the beginning of a new chapter of ongoing support. Through the establishment of an alumni network, we are committed to providing continued guidance and resources to the 140 businesses currently in operation, ensuring their sustained success and impact.
We extend our heartfelt gratitude to our GlobalGiving community and the RSA. Together, we have not only empowered women with critical financial independence but have also taken significant strides towards breaking the cycle of generational poverty.
Thank you for joining us on this incredible journey of empowerment and transformation.
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