2015 GES Highlights Importance of Women Entrepreneurs

Thursday 20th August 2015

President Barack Obama is photographed during a presidential portrait sitting for an official photo in the Oval Office, Dec. 6, 2012.  (Official White House Photo by Pete Souza)The 2015 Global Entrepreneurship Summit (GES) took place July 25-26 in Nairobi, Kenya, marking the first time the event has been held in Sub-Saharan Africa. The conference, which has convened annually since 2010 in a different region of the world, gathered approximately 1,000 entrepreneurs, business leaders, mentors and government officials at all levels, including US President Barack Obama.

The GES kicked off with keynote addresses from President Obama and Kenyan President Uhuru Kenyatta. The pair announced a host of new commitments from both the public and private sectors intended to promote entrepreneurship as an economic and social driver, with a specific focus on women and youth entrepreneurship. Among them: the Overseas Private Investment Corporation (OPIC) has committed to explore financing $100 million in GBA sponsors Goldman Sachs 10,000 Women and the International Finance Corporation’s Women Entrepreneurs Opportunity Facility, and GBA member Chase Bank Kenya has committed to lending over $580 million to entrepreneurs in the SME space — with a focus on women and youth — over the next three years. You can read their press release on the commitment here.

Chase Bank KenyaHead of Woman Banking Marianne Nyangi represented Chase Bank Kenya at the event during a 2-hour workshop on “Tools for Financial Success” held July 25. She spoke about the work Chase Bank Kenya is doing to increase women’s access to finance and what entrepreneurs should know before they approach a bank for a loan.

Read more about the commitments made to funding African entrepreneurs at the event here.