*PS Susan Mang’eni Urges Financial Sector to Unlock Opportunities for Young Women Entrepreneurs* The Principal Secretary for Micro, Small and Medium Enterprises (MSMEs), Ms. Susan Mang’eni, has called on financial institutions and policymakers to prioritize access to finance for young women entrepreneurs, saying it is key to driving inclusive economic growth in Kenya. Speaking during the Young Africa Works Dialogue Series organized by the Mastercard Foundation, PS Mang’eni emphasized the need for targeted support to help young women scale their businesses, noting that the future of job creation lies in unlocking the potential of Kenya’s vibrant MSME sector. Held under the theme “Unlocking Finance for Young Women Entrepreneurs,” the dialogue brought together young entrepreneurs, government officials, private sector leaders, and development partners to explore practical strategies to bridge financing gaps for women-led enterprises. “These young women are the future of our private sector and job creation. If we support them effectively, we can double job creation potential from 2.5 million to 5 million jobs,” said PS Mang’eni. Citing a University of Nairobi study, she noted that MSMEs make up 98% of all businesses in Kenya, with about 77% of MSMES are micro-enterprises, many of which struggle to scale up or remain sustainable. She urged for a stronger ecosystem that fosters business competitiveness and bridges the gap from micro to medium enterprises. “The challenge is not starting businesses. It’s scaling them. We must focus on access to markets, financing, and infrastructure,” she added. The Government’s approach revolves around decriminalizing work, especially informal ventures often run by young people, such as street vending or home-based food businesses. She highlighted reforms in regulatory frameworks and licensing regimes, including digitization of over 20,000 government services on eCitizen, as critical milestones in facilitating enterprise growth. “Today, you can register a company and access key services from your mobile phone. We're simplifying processes to ensure time and cost are not barriers to entrepreneurship. For instance, the Nairobi City County Government has implemented a single business permit regime, streamlining the previously cumbersome licensing processes for entrepreneurs. Joining the dialogue, Dr. James Mwangi, Managing Director and CEO of Equity Group Holdings, reiterated his commitment to providing innovative financial solutions tailored to young women entrepreneurs. Through the bank, he committed to 6 over $1 billion into initiatives that support young women in enterprise. He also announced plans to invest in digital infrastructure that would provide entrepreneurs with access to virtual marketplaces. “We are not just solving individual problem. We’re solving a national development challenge,” Dr. Mwangi said. “Finance must be inclusive, sustainable, and designed for long-term impact.” Dr. Mwangi also pledged support for the formation of entrepreneurship coaching and mentorship club aimed at instilling professionalism, ethics, and record-keeping skills in young business owners. On financial inclusion, the PS cited the success of the Hustler Fund, noting that it has disbursed over KSh 1 billion and established credit profiles for more than 26 million Kenyans. Mang’eni pointed to the Hustler Fund as a key intervention in financial inclusion. The fund has offered not only credit but also a credit repair mechanism — helping borrowers rehabilitate their credit scores andcreate behaviorall credit profiles. “We’ve introduced a scoring system ranging from A1 to C3. A borrower’s financial behavior is becoming their new collateral. This is our pathway to soft collateral lending and inclusion at the bottom of the pyramid,” she explained. “The Hustler Fund is not just about loan. Itt’s about rehabilitation, savings, and building creditworthiness from the bottom up.” She noted, calling on financial institutions to develop tailor-made products for young women. “Let’s give young women not just the wings to fly, but the power to soar in enterprise, innovation, and economic contribution,” noted the PS urging stakeholders to move beyond policy discussions and into practical, impactful action.