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HF Group in pact with UN Women to empower female-led businesses

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HF Group and UN Women Tuesday launched a partnership deal aimed at building a diversity and inclusion program to empower women owned businesses.

“Most women have however shied away from this opportunity despite heavy investment by the government. It is for this reason that we are pleased to be working hand in hand with UN Women with the common purpose of improving women’s lives in the country and contributing to sustainable and inclusive development,’’ said HF Group chief executive Robert Kibaara.

According to the World Bank, only 47 percent of women worldwide have access to formal financial services, compared to 51 percent of men. In Africa, this number increases to more than 70 percent of women.

“More and more women are pursuing higher education and coming out with degrees and joining the labour force either as entrepreneurs or in the formal sector. For businesses to thrive and to prosper in this new climate, the way businesses work must also change. Capacity building for the women owned businesses is a key aspect to ensure that they are able to benefit from affirmative action – investing in women means promoting inclusive growth,” said Banu Khan, UN Women.

HF Group intends to invite customers both banking and non-banking, partners and stakeholders in the real estate industry including suppliers and distributors, contractors, landlords and developers as well as professionals to engage them and create awareness on business financing opportunities.

“As part of the partnership, HF Group will be a key influencer in the real estate value chain in Kenya to incorporate gender inclusion in our value chain. This entails review of our procurement policies and processes to ensure that we are offering an opportunity for women owned business to be part of the pre-qualified suppliers of the group,’’ added group CEO Robert Kibaara.

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