Empowering Women Entrepreneurs: Pezesha and WomenWork Network partner to provide working capital to women entrepreneurs in Kenya
We are excited to announce our partnership with the WomenWork Network, to enable access to working capital for thousands of women entrepreneurs within the WomenWork Network ecosystem. Through this collaboration, women business owners can access instant credit via their mobile phones through the Pezesha 2.0 platform. Additionally, they will also have access to financial literacy training and debt counseling, empowering them to grow their businesses in a sustainable manner.
According to the International Monetary Fund (IMF), supply-side constraints such as high-interest rates and collateral requirements often exclude women in Sub-Saharan Africa from the formal credit market. Furthermore, the lack of collateral further limits their access to business loans, creating a disparity compared to their male counterparts.
Pezesha is dedicated to dismantling these barriers one SME at a time. By providing low-interest and uncollateralized loans, we are revolutionizing the financial ecosystem and fostering financial inclusion. To date, we have successfully funded over 100,000 MSME loans, with 60% of the businesses being women-owned, a group that has historically been underrepresented in the Kenyan credit market, as reported by the Women World’s Banking.
According to a World Bank publication, low financial literacy is also a significant factor contributing to women MSMEs’ reluctance to apply for credit, along with risk aversion and fear of failure. Pezesha offers tailored financial literacy training programs, empowering women business owners to become financially savvy and unlock higher limits as they progress through the Pezesha ladder.
Our partnership with the WomenWork Network underscores our commitment to being the financial voice for underserved MSMEs in Kenya and Sub-Saharan Africa. We strive to promote financial inclusion by providing affordable working capital, enabling the growth and success of these businesses.
“We are thrilled about this partnership to support SMEs during these tough economic times with affordable working capital to keep their cash flows healthy by breaking down barriers that limit financial inclusion, especially for women business owners.” – Hilda Moraa, CEO Pezesha.
“We are extremely happy to witness the realization of our partnership with Pezesha. Our primary goal is to establish a supportive ecosystem for our community, and therefore, our collaboration with Pezesha intends to eliminate obstacles that hinder women entrepreneurs in our community from accessing financial assistance for their businesses.” – Esther. C.A. Sarfo, Programs & Partnerships Manager, WomenWork Network“
About WomenWork Network: A pan-African network focused on the advancement of African women through digital communities, skill enhancement, and access to capital. Founded on the principles and power of community, WomenWork provides ambitious women with access to opportunities, networks, exposure, and skills development that help them realize their full potential in the workplace and in their businesses.
Website: https://womenworknetwork.com/
About Pezesha: Pezesha owns and operates a digital embedded finance platform that connects capital and other financial services to underserved Small and Medium-Sized businesses (MSMEs) & value chains to empower them with affordable inventory and working capital that create meaningful impact and growth to their businesses.
Website: https://pezesha.com/
Are you interested in partnering with us to get credit for your SME? Click here