COVID-19: How this initiative is helping women-led businesses stay open

The COVID-19 pandemic has wreaked havoc on businesses across various sectors, affecting industries such as tourism, hospitality, aviation, retail, and trade. Among the hardest-hit are women-led businesses, which have been grappling with the challenges brought about by the global health crisis. In a recent interview on CNBC Africa, Alice Murichi from BPN Rwanda shed light on the impact of the pandemic on women entrepreneurs and the initiatives aimed at supporting them during these tumultuous times. Murichi highlighted the significant obstacles faced by women-led SMEs, emphasizing the need for tailored solutions to help them recover and thrive in a post-pandemic world. As businesses navigate the complexities of the 'new normal', women entrepreneurs are showing resilience and adaptability in seizing emerging opportunities and venturing into traditionally male-dominated sectors. With the right support and resources, women-led businesses have the potential to not only survive but also thrive in the face of adversity. Initiatives such as business clinics, capacity-building programs, and networking opportunities are empowering women entrepreneurs to redefine themselves, capitalize on new prospects, and navigate the evolving business landscape. Despite the numerous challenges that persist, there is a sense of optimism and determination among women-led businesses to overcome obstacles, harness their full potential, and emerge stronger from the crisis. By addressing gaps in access to financial support, representation in decision-making processes, and reducing the tax burden on women, stakeholders can create a more inclusive and supportive environment for women entrepreneurs to succeed. The pandemic, while presenting unprecedented challenges, also serves as a catalyst for women-led businesses to innovate, diversify, and carve a niche in diverse industries. By embracing change, seizing opportunities, and fostering a supportive ecosystem, women entrepreneurs can lead the way towards a more inclusive and resilient economic landscape post-pandemic.