Kenyan e-health startup Bena Care and Zambian fintech Mighty Finance have secured funding from Village Capital and Standard Chartered Bank through a newly launched financing facility aimed at supporting female entrepreneurs.
This initiative is a collaboration between Village Capital and Standard Chartered Bank, designed to pilot a financing solution within the bank’s Women in Tech program. It targets early-stage, impact-oriented startups spearheaded by female founders, aiming to bridge the gender funding disparity in the entrepreneurial landscape.
Bena Care, based in Kenya, focuses on providing affordable clinical and supportive care to patients with life-limiting illnesses in their homes. Mighty Finance, from Zambia, offers financial services primarily to businesses led by women, facilitating their access to necessary capital. Both enterprises have been awarded US$75,000 each through this funding program.
We’re thrilled to collaborate with Standard Chartered Bank to further their commitment to enhancing global women’s participation by directing more investment towards impactful female-led startups
Heather Matranga, Senior Vice President for impact investments at Village Capital.
“We’re thrilled to collaborate with Standard Chartered Bank to further their commitment to enhancing global women’s participation by directing more investment towards impactful female-led startups,” expressed Heather Matranga, Senior Vice President for impact investments at Village Capital.
For more than a decade, Village Capital has been at the forefront of creating and refining methods to foster greater equity in investment decisions, aiming to broaden access to opportunities and capital for ventures led by women. This pilot financing facility is our latest initiative towards offering innovative and transformative financing solutions tailored to the unique needs of women entrepreneurs in various business sectors and regions,” stated a representative from Village Capital.
Joyce Kibe, Head of Corporate Affairs, Brand, and Marketing at Standard Chartered, expressed her enthusiasm about the partnership with Village Capital to enhance the bank’s Women in Tech program. This initiative has already provided essential training and support to over 70 women-led businesses, aiding them in scaling their operations to meet international standards.
“We are committed to empowering more women in the business sector because we recognize that doing so promotes stronger and more resilient economic growth. Additionally, it allows us to provide support for aspects that are often overlooked in the early stages of business development,” she mentioned.
