Bridging the Gap: Unlocking Finance for Women-Led Enterprises in Kenya

As a pioneer in embedded finance across Africa, Pezesha was honored to join the CGAP convening on advancing financial inclusion for women-led nano and micro-enterprises in Kenya. Our mission has always been to bridge the financing gap for underserved MSMEs by combining capital, capacity, and community, and this event reaffirmed both the urgency and opportunity of that work.

The discussions , rich with data, lived experiences, and practical insights ; reinforced why inclusive finance matters and how collaborative innovation can unlock the potential of women entrepreneurs across the continent.

The conference opened with the launch of CGAP’s new research on women-led enterprises in Kenya. The findings were striking: Kenya has over 7.2 million micro-enterprises, with women leading nearly half of them. These businesses are vital engines of household resilience and community livelihoods. Yet, women typically begin with far less start-up capital than men, restricting the types of businesses they enter and their chances of growth. This capital gap creates a paradox ,while 40% of women reported not needing to borrow, 86% admitted that lack of capital was their biggest barrier to expansion.

As the CGAP research team put it:

“Financing alone is not enough , women entrepreneurs consistently tell us they also need skills, networks, and mentorship to fully thrive.”

This resonates deeply with our work at Pezesha. Our segmented credit scoring models and blended financing approach are designed to reflect this reality ,that resilience-focused enterprises, stability-seeking ventures, and growth-oriented businesses each require tailored solutions.

In a fireside chat, Anne Mutahi, a seasoned champion of financial inclusion, reminded us that access to finance cannot be divorced from trust and culture. Women often borrow from people they trust, and in some cases, cultural norms still act as invisible barriers to growth. She emphasized the need for policies that formally recognize women-led businesses, allowing lenders to target and serve them intentionally.

“Trust is central. Women borrow from people and institutions they trust. Building that trust into financial systems is as important as the credit itself.” — Anne Mutahi

At Pezesha, this is why we go beyond credit. By embedding financial literacy and education modules ; Elimiza into our lending ecosystem, we ensure that entrepreneurs not only access finance but also gain the confidence and knowledge to use it effectively.

The conversation deepened during a panel featuring Mercy Mutua, Joy Kiiru, Beryl Egengo, and Kevin Mutiso. Each highlighted the urgency of shifting how the financial sector engages women-led MSMEs.

Kevin Mutiso stressed that women-led businesses must be visible in the data, urging institutions to disaggregate lending portfolios by gender. Joy pushed for financial literacy to be embedded directly into financial products, with costs absorbed by institutions rather than entrepreneurs. Kevin underscored the role of digital lenders in bridging informal savings systems like chamas with formal finance, while Beryl emphasized that collaboration across providers, policymakers, and development partners is non-negotiable if solutions are to be sustainable.

Their voices captured the heart of the matter:

“We can’t keep treating women-led MSMEs as a monolith. Each segment's resilience, aspiring growth, and scale  requires different products and support.” Beryl Agengo second from left 

“Digital lenders are uniquely placed to bridge the gap between informal finance and formal institutions. But we must design with women in mind.” Kevin Mutiso

“Collaboration is everything. Financial providers, policymakers, and ecosystem actors must co-create with women, not for them.”  Mercy Mutua

These insights mirror Pezesha’s model: embedded finance infrastructure that connects MSMEs to affordable credit through platforms, cooperatives, and supply chains, while combining alternative data, financial literacy, and partnerships to serve women entrepreneurs more effectively.

The convening underscored a truth we live every day at Pezesha: women-led enterprises are not a homogenous group. Supporting them requires tailored strategies, blending capital with capacity and community support. Access to credit must go hand in hand with mentorship, education, and trust.

As we reflect on the CGAP discussions, one thing is clear,  building inclusive financial systems is not just about lending. It is about designing products and ecosystems that recognize women’s diverse journeys, break down structural barriers, and unlock their true potential.

At Pezesha, this is the work we do daily. By leveraging technology, partnerships, and education, we are building the infrastructure that ensures access to finance translates into resilience, dignity, and growth for millions of women-led enterprises across Africa.