Mastercard Research Reveals 93% of Women in Kenya Want to Start Businesses – Here’s What’s Driving Them

Kenyan women are displaying remarkable entrepreneurial ambition, with 93% considering starting or running their own business, according to new research from Mastercard released ahead of International Women’s Day 2025. This figure is significantly higher than the regional average of 51% across Eastern Europe, Middle East, and Africa (EEMEA), demonstrating the unparalleled entrepreneurial drive among women in Kenya.

Generational Trends: Baby Boomers and Gen X Leading the Charge

The research reveals that entrepreneurial spirit spans all generations of Kenyan women, with Baby Boomers (93%) and Gen X women (96%) emerging as the most entrepreneurial demographics. This differs sharply from EEMEA trends, where younger women tend to show more entrepreneurial interest.

Notably, Gen X women in Kenya are not only considering entrepreneurship at high rates but also actively engaging in side hustles—with 80% of them participating in income-generating activities alongside their primary jobs. They are closely followed by Gen Z women at 79%.

Why Kenyan Women Are Embracing Entrepreneurship

The Mastercard research highlights several key motivations driving Kenyan women to start businesses or engage in side hustles:

• Earning additional income (77%)
• Gaining financial independence (68%)
• Building a financial safety net (49%)
• Pursuing personal dreams and passions (45%)
• Achieving better work-life flexibility (41%)

This desire for financial empowerment and flexibility aligns with global shifts in how women balance work, family, and personal ambitions.

Popular Sectors for Women Entrepreneurs in Kenya

The entrepreneurial interests of Kenyan women are diverse, with businesses emerging across multiple sectors. According to the research, the top sectors where women entrepreneurs are active include:

• Agriculture – 35%
• Business services – 30%
• Food and drink – 22%

These industries reflect Kenya’s economic landscape, where agriculture plays a critical role, and where food-related ventures and service businesses offer low entry barriers and scalable opportunities.

Optimism and Growth Expectations

Kenyan women entrepreneurs are also more optimistic about the future than their male counterparts. 49% of women expect their businesses to grow by more than 50% over the next five years, compared to just 39% of men. This confidence underscores the resilience, adaptability, and ambition driving Kenyan women entrepreneurs.

Barriers Facing Women Entrepreneurs in Kenya

Despite their high levels of ambition and optimism, Kenyan women continue to face significant barriers when it comes to starting and sustaining businesses. The biggest challenges include:

• Lack of funding – 53%
• Limited financial resources – 44%
• Difficulty securing startup capital – 34%
• Limited knowledge on how to scale – 47% (compared to 31% across EEMEA)
• Lack of business planning skills – 41%

These challenges disproportionately affect women, particularly those from marginalized or rural areas. According to the research, 82% of women who have not started a business cite lack of capital as the main obstacle.

Importance of Entrepreneurial Networks and Training

To overcome these hurdles, Kenyan women identified several key enablers that would support their entrepreneurial journey:

• Entrepreneurial networks – 48% (for mentorship, peer learning, and support)
• Business planning training – 46%
• Increased access to grants – 45%

This need for structured support is particularly high among Gen X women, with 61% seeking entrepreneurial networks to navigate challenges and access growth opportunities.

Digital Skills and Technology Adoption

Kenyan women entrepreneurs are also actively embracing technology to enhance their businesses. According to Mastercard:

• 65% regularly use artificial intelligence (AI) tools to improve efficiency.
• 66% report significant time and cost savings due to digital tools.
• 57% remain cautious about expanding their businesses because of rising cybersecurity threats.
• 58% of women entrepreneurs have already been targeted by fraudsters.

This highlights the urgent need for cybersecurity education and stronger digital protections for women-led businesses. 49% of women entrepreneurs feel uncertain about how to protect their businesses from cyberattacks, compared to 37% of men.

Role of Financial Institutions and Policy Makers

Mastercard’s Senior Vice President and Country Manager for East Africa and Indian Ocean Islands, Shehryar Ali, emphasized the importance of creating an inclusive digital economy that supports women entrepreneurs through:

• Access to credit facilities.
• Tailored financial tools.
• Mentorship programs.
• Digital transformation support.

As part of its commitment, Mastercard has supported over 50 million small businesses globally since 2020, including 37 million women entrepreneurs, by providing financial inclusion programs, digital solutions, and business development tools.

In Kenya, Mastercard’s Community Pass platform is helping small businesses digitize and scale. Strategic collaborations, such as with I&M Bank, are also providing business credit cards tailored for small and medium enterprises (SMEs), helping women entrepreneurs better manage expenses and access financing options.

Need for Policy and Educational Reforms

Another key finding from the research is that 26% of women believe entrepreneurship should be introduced as a formal career path in schools and universities. This could help embed entrepreneurial thinking from a young age, ensuring that more women enter business confidently equipped with the necessary skills.

Conclusion

The 93% entrepreneurial ambition rate among Kenyan women highlights a transformative shift in the country’s economic and social landscape. With the right financial support, mentorship, digital resources, and policy reforms, Kenya’s women entrepreneurs could become a dominant force, driving innovation, employment, and economic resilience.