Standard Chartered Bank, in partnership with @iBizAfrica – Strathmore University, has unveiled Cohort 7 of the Standard Chartered Women in Tech Program, marking a significant step in empowering female entrepreneurs leveraging technology.
This initiative falls under their joint effort, the Women in Tech Incubator program, aimed at providing a 12-week incubation period to enhance business skills, facilitate access to finance, and expand networks for 15 female entrepreneurs.
The launch event, themed “Empowering Women for a Sustainable Future,” held at Strathmore University, was graced by notable figures including Dr. Catherine Adeya, Board Member at Standard Chartered, Makabelo Malumane, Head of Transaction Banking in Kenya and East Africa at Standard Chartered, Dr. Vincent Ogutu, Vice Chancellor of Strathmore University, and Dr. Joseph Sevilla, Director of @iBizAfrica Incubation Centre – Strathmore University.
This year’s cohort focuses on sustainability, reflecting a commitment to fostering innovation and growth within the tech industry while emphasizing environmental and social responsibility.
Makabelo Malumane emphasized the program’s dedication to promoting sustainable business practices among women-led startups, highlighting the positive impact these initiatives have on economies and communities.
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The incorporation of Environmental, Social, and Governance (ESG) standards is crucial in Kenya’s startup and corporate environment, with only a fraction of companies adhering to these principles according to a recent survey by the Nairobi Securities Exchange.
Challenges such as limited awareness, regulatory gaps, and financial constraints contribute to this disparity, underlining the importance of initiatives like the Women in Tech Program.
Since its launch in 2017, the program has nurtured over 64 women-led businesses in technology, providing mentorship, advisory services, networking opportunities, seed capital, and investor forums. With 32 startups receiving seed funding totaling over KES 41 million and over 2,000 applications from previous cohorts, the program’s impact on fostering innovation and sustainability in Kenya’s business landscape is evident.
