Most Kenya Women Are Unemployed, Few Have Businesses In 2024, Report

• The number of unemployed Kenyan women is more than men according to a financial survey released in April 2024
• The report conducted by Tala Kenya showed that there are only 36% of women in business compared to men
• Kenyan women face challenges, including access to business financing and balancing their personal life

More women in Kenya are unemployed than men, a new financial survey has shown.

The report released by Tala, a digital credit provider (DCP) in Kenya, showed that 36% of women have small or personal businesses.

"Men were more likely to report having more established businesses, while we see more women starting businesses within the last few years," read the report in April 2024, in part.

Why Kenyan women are unable to get credit

Out of the number survey, 37% of women without small businesses said they want to start but face financing problems.

Of those with businesses, 64% reported experiencing challenges accessing credit, while 65% said they find it hard to finance their businesses.

The survey cited other challenges as balancing personal life and business, along with dealing with emergencies.

"49% of women respondents report getting money they need to start or grow their business as a main financial challenge to completing their goals this year. This is followed by balancing business needs with personal life (31%) and dealing with unexpected emergencies (30%)," the report continued in part.

About 65% of women reported gender bias in accessing financial services.

How to ensure women gain access to credit

Tala Kenya general manager Annstella Mumbi urged sector stakeholders to equip women with skills to enhance their access to credit.

Mumbi highlighted the skills, including financial management, leadership, and technology.

"Research findings have established that perception of gender bias in accessing financial services has led more women, especially in emerging markets such as Kenya to self-select themselves out of borrowing or even applying for credit. As players in the credit market, we must intentionally equip our female customers with knowledge and skill,2 said Mumbi.

In terms of savings, 44% of women said they have a savings account, while 36% use group savings.

Those still saving cash in home banks were 30% of the sample.

Kenyan woman start business with KSh 10k

In related news, TUKO.co.ke reported about a Kenyan woman who started a cleaning business with KSh 10,000 only.

Phanice Kwamboka is the founder of Malvo Cleaning Services, which serves homes and offices in Nairobi and other towns.

Kwamboka started the business as a side hustle while working at a flower farm and resigned to focus on it a few months after its launch.

She revealed that as her client base grew, she got referrals and secured a big contract in a private hospital.

Proofreading by Jackson Otukho, a multimedia journalist and copy editor at TUKO.co.ke