NAIROBI, Kenya, Mar 18 – TechnoServe has announced a partnership with Moody’s Foundation to empower entrepreneurs in the informal settlements of Nairobi by helping them increase the profitability of their small retail shops.
The one-year project dubbed Smart Duka will train 1,000 entrepreneurial duka owners, half of them women, on business and financial management skills.
The initiative will help to expand a model that TechnoServe has successfully implemented with several partners.
Since launching the Smart Duka Initiative in 2016, the project has reached over 5,300 shop owners with shop reporting a 30 percent increase in profits. ]
According to Technoserve, the initiative has also helped shops access over $190,000 (Sh19m) in credit.
Smart Duka has also explored practical digital solutions that will enable Nairobi’s shopkeepers to manage inventory efficiently and make mobile payments.
The Smart Duka project will include two cohorts (500 each) and will have an approximately two-month mobilization phase and a three-month training phase