Kenyan women are increasingly seizing control of their financial destinies, marking a significant shift from traditional informal savings to more structured and strategic investments. This transition not only signifies a new era of financial independence but also underscores the growing economic empowerment of women across the nation. While challenges persist, the overall trajectory is clear: women are evolving from mere participants in investment activities to pivotal figures who are actively shaping Kenya's financial future.

For decades, Kenyan women have primarily relied on 'chamas,' or informal savings groups, to pool resources for various ventures, including real estate, small business startups, and educational pursuits. These groups have historically served as vital pathways to financial independence. However, a notable trend is emerging as more women move beyond these collective savings schemes to explore individual investments in Unit Trust Funds, the stock market, and government securities. This shift indicates a desire for a more direct role in managing and growing their wealth.

The World Bank's December 2024 Kenya Economic Update highlights the substantial investment impact of women-led businesses, noting that they contribute approximately 65% of their household income. These enterprises predominantly employ women, amplifying their positive influence on both household welfare and the national economy. This underscores the importance of supporting and empowering women in business and investment.

Technology is playing a crucial role in enabling women's investment growth in Kenya. The proliferation of mobile banking and fintech solutions has dismantled traditional barriers to entry, making it easier than ever for women to save, invest, and monitor their investment portfolios. The rise of digital investment platforms means women no longer need to visit physical financial institutions; they can invest, withdraw, and reinvest with the click of a button. This accessibility is democratizing finance and empowering more women to participate.

In addition to increased access, financial literacy is also on the rise. Social media, podcasts, and online investment forums have created a surge of financial awareness among women, equipping them with the knowledge needed to make informed decisions. Financial institutions have responded by launching tailored products and mentorship programs specifically designed to support female investors. This combination of access and education is proving to be a powerful catalyst for change.

Despite these positive advancements, significant hurdles remain. Access to credit remains a major challenge, with many women struggling to secure loans due to a lack of collateral and credit history. Cultural and societal norms continue to influence financial decision-making, sometimes discouraging women from taking bold investment steps. Risk aversion is another factor; studies suggest that women tend to be more cautious investors than men, often prioritizing security over high returns. While this is not inherently negative, it can sometimes lead to missed opportunities for lucrative investments.

To fully unlock the potential of women investors, financial institutions must extend their services beyond traditional banking. They need to create more accessible investment products with lower entry barriers, provide targeted financial education, and develop mentorship programs that connect women with successful investors. Government policies can also play a critical role by incentivizing women-led investments and ensuring gender-inclusive financial policies. By addressing these gaps, Kenya can fully harness the economic potential of its women and drive inclusive economic growth.

The question is no longer whether women will invest, but how financial institutions, policymakers, and society as a whole will support and accelerate this transformation. The future of Kenya’s investment landscape is undeniably female, and it is time to embrace this change. As more women take control of their financial futures, they are poised to become key players in shaping Kenya’s investment landscape.

The writer is Head of Business Development at Jubilee Asset Management