Yunus Environment Hub Impact Report 2023 Published

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SHE Stars Academy graduates 402 women in business

More than 1300 women-owned small businesses impacted by the effects of Covid-19 on the economy and increased climate risks have benefitted from blended finance and business development services that have increased their business resilience and competitiveness.
 
Absa Bank Plc, in collaboration with the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) Employment and Skills for Development in Africa (E4D) Programme supported by Yunus Environment Hub (YEH) launched the program “SHE Stars – See Her Empowered” to support up to 1,500 women-owned micro, small, and medium businesses (MSMEs) impacted by the Covid-19 economic situation and increased climate risks.
 
402 women in business from two cohorts of the SHE Stars program graduated on 9th May 2023 in Nairobi in a culmination event that brought together the SHE Stars, Big Sisters (mentors) and other stakeholders in the industry. The program has supported women from various sectors in Kenya with mentorship sessions such as the concept of social business, circular economy, disruption management & business continuity, human resource management, investor readiness, and much more. Through 12 weeks of active live sessions from experienced coaches, the SHE Stars had access to information through knowledge cafes and funding opportunities from Absa Bank Plc and other funding institutions. Additionally, through assignments available on the Yunus Environment Hub StartNow platform and close support from experienced and accredited business mentors (Big Sisters), the SHE Stars could incorporate what they learned into their businesses, considering their context, core activity, and development stage.
 
During his keynote speech, Yunus Environment Hub Chairman, Nobel Peace Prize Laureate Professor Muhammad Yunus noted women’s vital role in transforming communities around them. He
reiterated the urgency of empowering women through the concept of social business to lead and run successful businesses and alleviate poverty.
 
To overcome poverty and the flaws of the economic crisis in our society, we need to envision a social life where women are empowered. We have to free our mind, imagine what has never happened before and write social fiction.” Yunus Environment Hub Chairman Nobel Peace Prize Laurette Prof. Muhammad Yunus.

During her speech, Yunus Environment Hub Co-founder and Managing Director Christina Jäger outlined women’s crucial role in climate action and business leadership. She noted that better involvement and integration of women into decision-making and programs like the SHE Stars program are vital to delivering climate mitigation and adaptation policies and solutions.

Women entrepreneurs play an integral role in business, supporting their families and in the fight against climate change. We will continue supporting women to enhance their business capacities and adopt more resilient, sustainable, green practices.” Christina Jäger, Managing Director, Yunus Environment Hub.

The SHE Stars program has incredibly contributed to SHE Stars’ growth at all levels. When asked about the program’s impact on their businesses, the SHE Stars affirmed that the blended sessions equipped them with the tools and skills to capitalise on their business models to drive social and environmental change in Kenya and beyond. Their testimonials indicated that as a result of the training, they have grown to recognise the broader landscape in which they thrive. 

Becoming a more green, circular, and environmentally friendly business requires a commitment to sustainability and a willingness to invest in eco-friendly practices and technologies. I have managed to reduce energy and water consumption and use eco-friendly products. I have struggled with employing as I did not know how to do it. After attending the human resource session, I got four people on a contractual basis.” Sophia Kawira, Founder, Waridi Medimpact Limited Kenya.

The GIZ Country Director Bodo Immink, underscored Germany’s commitment to create decent employment and sustainable jobs for women and youth through MSME development. “At the heart of our commitment to MSME development is the firm belief that women entrepreneurs are key drivers of economic growth, thanks to their ability to create jobs, foster innovation, promote diversity, and generate positive social and environmental outcomes. By empowering women and youth to become successful MSMEs owners, we aim to unlock their full potential as agents of change who can make a real difference in the world. Our focus in creating decent employment and sustainable jobs for women and youth underscores our unwavering commitment to building a more inclusive, prosperous, and sustainable society.”

On his part, Absa Bank Chief Executive Officer Abdi Mohamed said: “As a bank, our commitment to the women’s agenda extends beyond our organization and the products and services we provide. It is on this premise that we hope to directly impact over one million women entrepreneurs across the country by 2025 with requisite financial and non-financial support to scale up and take their businesses to the next level. We believe this will create a ripple effect on a lot more people in our society, including the people employed by these businesses, their families, their suppliers and even the customers that they serve. We also take this opportunity to congratulate our graduates from the third and fourth cohorts and urge them to serve as a beacon of hope to other women looking to break the ceiling.”

Please visit https://she.yunusenvironmenthub.com/ to learn more about the program.

IMG-20230509-WA0051
SHE ACADEMY GRADUATION 2023-532