NAIROBI, Kenya, Jan 26 – Women-led start-ups are set to access funds under a new deal between Village Capital and Standard Chartered Bank.
The pact, which seeks to address the gender financing gap, targets early-stage, impact-focused start-ups.
“For over a decade, Village Capital has been developing systems and processes to improve equity in investment decision-making and ultimately unlock more opportunity and capital for women-founded and led ventures,” said Heather Matanga, Vice President, Impact Investments at Village Capital.
“Through this pilot facility, we intend to provide innovative and catalytic financing that truly meets the needs of women entrepreneurs across a range of business models and markets,” Matanga added.
Today, Village Capital debuted two women-led start-ups: Bena Care, a Kenyan start-up delivering affordable clinical and supportive care to patients with life-limiting illnesses at their own homes.
The other one is Mighty Finance, a Zambian fintech start-up that provides access to capital for primarily women-led businesses.
While Benacare will receive $75,000, Mighty Finance will also get a similar amount.
“We believe by supporting more women in business, we are stimulating more robust and resilient economic activity, while providing support for inputs that are often neglected for start-up businesses,” said Joyce Kibe, Head, Corporate Affairs, Brand, and Marketing at Standard Chartered.
