Tuesday, November 29, 2005

Entrepreneurship: Financial aid for female entrepreneurs in Kenya

The African Development Bank (ADB), has approved a Sh869 million (US$11.62 million), package to support the development of female enterprises in Kenya. Many financial institutions in Africa are reluctant to lend funds to female owned enterprises.

Speaking at the launch of the African Development Bank and International Labour Organisation (ILO) initiative to support the development of female entrepreneurs, Dr Leila Mokaddem, the bank's Principal Investment Economist, said: "The facility aims to address this problem by assuring banks that lending to women is a safe business decision".