The women have launched an investment club dubbed Africa Women Investors (AWI) which they hope to ride on in their quest for financial freedom.
Among other things, AWI aims to give them a chance to invest in ventures of their choice which the group says has been lacking.
“AWI has come to offer a platform for women to invest. The summit will help African women make informed decisions on where to invest their money,” AWI founder, Dr Agnes Odinga, said last week during their second summit held in Nairobi.
The women met to lay strategy on their investment journey during the Africa Women and International Business and Investment Summit partnership Nairobi. This was the second summit after the inaugural one that was also held in Nairobi in December 2018.
Dr Odinga, who works at Minnesota State University in the US, said women, known for their abilities in saving, have failed to do well in investment. She added that the modern African women is looking at moving away from the traditional ways of investment such as buying land to more modern investments with higher returns.
Members will be free to invest in countries where they are currently based.
“Through AWI, we want women to get professional advice on prudent management and investment of their money through professional organisations that are selected from different sectors before making any investment plans,” Dr. Odinga said.
In Africa, AWI members are drawn from Ghana, Tanzania, Uganda, Kenya and Zambia. Kenyans abroad send billions of shillings annually back home, remittances are crucial in many Kenyan homes with the money sometimes depended by whole families to pay for school fees, medicines, food and development.
Hundreds of Kenyan families have lift themselves out of Poverty through remittances.