Impact of Life Long Learning on Performance of Women- owned Small and Medium Enterprises: The Case of Kenya Women Microfinance Bank (KWFT)

This study examines the effects of a loan program with a lifelong learning component offered by the KWFT on women-owned small and medium enterprises (SMEs) in Kenya. The study also highlights the importance of tailoring and strengthening lifelong learning programs to effectively empower women entrepreneurs in Kenya. Many programs exist to empower women entrepreneurs, but little research has been done on the effectiveness of training and lifelong learning in achieving this goal. Lifelong learning interventions like KWFT’s program can be effective in promoting Women’s Economic Empowerment, but require tailoring and ongoing improvement to address identified gaps.

Key Findings:

• KWFT’s training program had a positive impact on business performance for some women.
• Training content varied across locations and may not have addressed all needs.
• Limited focus on soft skills development like communication and teamwork.
• Low digital literacy among participants hinders effective technology adoption.
• Successful women entrepreneurs had strong spousal support and higher education.

Key Policy Recommendations:

• Training Revamp: KWFT should revise their training modules to encompass broader financial literacy skills like budgeting, record-keeping, accessing credit, and investment management.
• Tailored Delivery: Training methods should cater to different learning styles. This includes offering individual training options alongside the group model.
• Strengthening Groups: Address time concerns within group training models and provide explicit training on teamwork and communication skills.
• Digital Integration: Increase the use of digital training methods such as video conferencing and online communities to enhance accessibility.
• Soft Skills Focus: Introduce soft skills training like critical thinking, creativity, and communication to cultivate an entrepreneurial mindset.
• Digital Literacy Boost: Integrate digital literacy training focusing on social media marketing and mobile payment solutions.
• Collaboration: Collaborate with other organizations offering similar programs to avoid duplication of efforts.
• Incentive Consideration: Re-introduce tokens or small incentives to motivate group participation.

Read complete Report: Impact of Lifelong Learning on performance of Women-Managed Enterprises