FEATURED: What does it take to promote women-led businesses?

Early this year, Alphonsine Uwimana commenced the execution of her business idea which had been in incubation for about two years dubbed Ikaze Luggage Storage. At the time, as a first-time entrepreneur, she said she lacked insights to aspects such as market structure, storytelling among others which are necessary for a new enterprise. Uwimana runs Ikaze Luggage Storage, a start-up that handles temporary luggage storage, logistics, delivery as well as moving services. Uwimana is one of 25 women entrepreneurs who on Friday, November 27, graduated from a six months innovative incubator programme dubbed Tourism Inc implemented by Entrepreneurial Solutions Partners (ESP), a global management consulting firm and Mastercard Foundation offering technical and financial support to entrepreneurs. The participating firms are involved in a wide range of activities including adventure tourism, fashion, lifestyle, culinary tourism among others. This was the initiative’s second cohort of graduates bringing the total number of graduates from the programme to 49. The first intake was made up of both men and women. The incubator among other things seeks to avail a combination of technical assistance and financing needed to emerging entrepreneurs to support business growth and job creation. Uwimana said that from the programme, she gained skills that have helped her shape her business especially in increasing relevance to her clients and more market coverage. These she said will not only be important for her but her three employees as they seek to cover more cities across the country. From the programme, emerging entrepreneurs receive practical skills on understating their target markets and structuring their business in line with the realities of the market. Brenda Nyakira, another entrepreneur who runs an events organizing firm, Ikaze Professional Conference Organisers said that the initiative was supportive in providing insights on how to make a business successful, profitable and impactful. From the incubation programme, Nyakira said that it also served in creating networks among emerging women entrepreneurs leading to potential collaboration and partnerships in pursuit of opportunities. Nima Yusuf, a Senior Project Manager at ESP, said that the focus on women in the latest edition of the programme was to address observations that there is gender imbalance in business ownership and survival rates in tourism and hospitality sectors. A recent study by African Development Bank noted that Women entrepreneurs in Africa face a shortfall in funding of an estimated $42 billion. In the first quarter of 2020, women-led startups accounted for only 3.2 per cent of total funding raised by African tech ecosystem, with multiple factors including technical support blamed for the disparity. Yusuf said that the incubator programme among other things included one on one coaching each business assigned a coach. “The coach follows up with them to grow their businesses and to address specific challenges they are having and providing an advisory role. What happens is that a relationship forms and is maintained thereafter to maintain support,” she said. The initiative has also launched an alumni programme where graduates of the programme can be part of a community that supports in ways such as introducing them to networking events, business partners. With most entrepreneurs in the programme never having run businesses previously, Yusuf said that the programme covers aspects such as setting up operations, streamlining operations, cash and financial management, team management among other skills involved in running a business. “We do a lot of research, local, sector-based. We have previously done a survey in hospitality in the tourism business to understand gaps, needs and avenues of growth to inform the support approach. This ensures that the support is tailored to current market conditions,” she said. The programme in November took in the third cohort of entrepreneurs made up of a majority of women. Rica Rwigamba the Country Head at Mastercard Foundation said that the programme’s approach to take in a women only cohort of entrepreneurs was ideal in that it was a response to comparatively fewer participation of women in the previous edition of the initiative. Eric Kacou, the Co-founder and Chief Executive of Entrepreneurial Solutions Partners said that among the expectations from the programme include job creation as well as support to other emerging entrepreneurs. $72,000 worth of capital was also availed as grants to select firms for further expansion. From the 49 firms that have been involved in the initiative, 142 jobs have so far been created with close to 60 per cent of them held by women. 52 products and services have also been improved as a result of the initiative. Eric Kacou, Founder and Chief Executive Officer of Entrepreneurial Solutions Partners (ESP), speaks to the graduants on 27 November 2020. / Courtesy One of 25 women entrepreneurs graduated from a six months innovative incubator programme on November 27. / Courtesy Rica Rwigamba Country Head Rwanda Mastercard Foundation addresses the event. / Courtesy

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FEATURED: What does it take to promote women-led businesses?