Busu Naturals, a Kenyan SME specialising in natural emollients for sensitive African skin, emerged victorious in the inaugural She's Next Kenya Grant Competition.
The program, spearheaded by Visa, aims to empower women entrepreneurs by providing funding, mentorship, and training opportunities.
Busu Naturals, led by CEO Emma Omany, received the top honour – a Sh2.5 million grant.
Timao Group, a company tackling plastic waste and affordable housing through innovative building materials, secured second place with a Sh2 million prize.
Code With Kids, a social enterprise focused on accessible STEM education for underprivileged children, rounded out the top three with a Sh1 million grant.
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Expressing her delight at the win, Omany highlighted the significance of the recognition.
"This win validates our efforts and serves as a powerful motivator," she stated. "It reinforces the value of perseverance and the impact of our work thus far. The comprehensive support offered by the grant and training program will be instrumental in expanding our capacity and market reach," Omany remarked.
"Additionally, it will empower us to generate a wider social impact, as we strive to create more opportunities within our value chain, particularly for women and youth."
The fiercely competitive contest attracted over 2,300 entries from innovative SMEs across diverse sectors in Kenya.
Crafts with Meaning and Cladfy, two other noteworthy participants, received Sh500,000 each in recognition of their outstanding contributions.
A Glimpse into the Winning Businesses:
Busu Naturals: This Kenyan enterprise champions the creation of high-quality, safe, and consistent skincare solutions specifically formulated for sensitive African skin.
By incorporating local botanicals and traditional beauty practices from various Kenyan ethnicities, Busu Naturals celebrates local knowledge while catering to a specific market need.
Cladfy: This innovative platform tackles the credit gap faced by micro-businesses in sub-Saharan Africa's informal sector.
Cladfy empowers micro-lenders to provide working capital loans to micro-entrepreneurs, such as smallholder farmers, fish vendors, and motorcycle riders.
Code With Kids: Driven by a mission to bridge the socio-economic divide, Code With Kids offers affordable and accessible STEM education to children from underprivileged backgrounds.
This initiative ensures that financial constraints do not hinder these young minds' potential to learn, innovate, and thrive.
Crafts With Meaning: This award-winning social enterprise collaborates with artisans in Kenya and Uganda to create beautiful and meaningful home decor items, lifestyle accessories, bags, and corporate merchandise, all inspired by the rich tapestry of African heritage.
Timao Group: This pioneering company tackles two critical issues: plastic pollution and the need for affordable housing in Kenya.
Timao Group transforms plastic waste into durable and cost-effective building materials for constructing modular homes, thereby offering a sustainable solution to both challenges.
The She's Next Grant Competition serves as a powerful testament to Visa's commitment to fostering a more inclusive and equitable business landscape in Kenya.
By empowering women-led enterprises and championing innovative solutions, the program lays the groundwork for a brighter future for Kenyan businesses and society as a whole.