Morero is a Kisii word meaning wild tree that keeps bearing edible fruits throughout the year. It is this allegory that influenced Linet Kwamboka’s choice of a business name.
With Kshs 100,000 as starting capital, Morero Enterprises is comprised of stationery, an MPESA shop and a khanga/leso outlet. It has had significant success and Linet readily admits were it not for EPTF training she would not have been where she is now.
The training comprised of several modules and mentorship placement when she later did a survey in the area she resides, she identified a business gap. “I realized, the area lacked an MPESA service and it was in high demand.” She says. In addition, “To compliment the MPESA, I decided to start stationery and the khanga outlet.”
Murero mints in a profit of Kshs 8,000 – 10,000 a month after selling 40% of her goods. This is bound to be more were it not for the dwindling economic environment.
“It is a challenge comprising of the high inflation rate, the election fever and the failing rains.” Linet comments. However, “I anticipate business is going to be better when these issues are sorted.”
Before the EPTF training, Linet was in the bead making business but could hardly make enough because there was no readily available market, profit ranged from Kshs 1,000 – 1,500.
Her visionary character and good management skill has attracted potential franchise business partners such as Kenya Commercial Bank Group (KCB) and Equity Bank.
According to the Women Economic Empowerment Organization, half of women in the emerging world – about 1.1 billion women – still lack good financial management skills despite worldwide progress toward financial inclusion. Additionally, in many developing countries, a majority women work in the informal sector, without labor protections or social benefits.
It is such gender inequality and much more aspects that inform Economic Project Transformational Facility (EPTF) programs. It recognizes the importance of empowering women because they contribute significantly to economic growth and reduces inequalities and injustices.