Women-Led Businesses Priority In Sh1.6 Billion Covid-19 Recovery Aid
Diamond Trust Bank (DTB) has set on a move to aid Micro, Small and Medium Enterprises (MSMEs) in Covid- 19 recovery. The bank has set aside Sh1.6 billion advance to ease harsh economic conditions presented by the pandemic through the year 2020 and into 2021.
The bank has called upon business owners to take advantage of the aid for any financing needs including working capital, term loans or asset financing. This will be in addition to other measures taken to help businesses get back on their feet by replenishing their working capital, aiding the acquisition of business assets and recovery from the impact of the Covid-19 pandemic.
Of the KSh1.6 billion that was allocated to DTB, 30% should go to women, youth and persons living with disability. DTB held the meeting as part of its efforts to deepen financial literacy and business acumen among its women-led MSME customers.
The guest speakers at the event were Qhala CEO Dr Shikoh Gitau, Honeycomb Jewellery founder Nafisa Rayani, and Julie Gichuru, the Head of Public Affairs and Communication at the Mastercard Foundation.
Drawing from lessons learnt from their careers, the guest speakers urged the entrepreneurs to learn to adapt to change and to reengineer their businesses to take advantage of new trends and habits, such as the digital age. Dr Gitau asked entrepreneurs to digitise and digitalise their businesses.
“They sound very alike. There is digitisation and there is digitalisation. The first one is very simple, because you convert your forms and other records into digital formats. Digitilisation is turning your business into something digital. It means you are moving your business from brick and mortar into something digital,” said Dr Gitau.
Drawing from her experiences right from school through to several changes in her career, Mrs Gichuru urged the entrepreneurs to be humble and learn to adapt and understand changes in communication. “The ability to be humble and accept that we don’t know everything is one of the most powerful things in the world, and it’s what will drive success from failure,” said Mrs Gichuru.
