An ICHA team drawn from Policy & Advocacy, Climate, Data and CVA units conducted a thorough market assessment activity supported by the FSPI (French Solidarity Fund Project Initiative project) in Mombasa to identify employment and entrepreneurship opportunities for young people and women in the industrial, informal, and formal sectors. This assessment was necessary due to the limited access to capital and education often faced by these groups, which hinders their economic growth and development. The team focused on evaluating existing industries and identifying opportunities for new industries, assessing micro-enterprises and small businesses, and identifying job opportunities in established industries. The team identified a range of opportunities in all three sectors that could be tapped to promote economic growth and development in the region. They also identified several challenges that must be addressed. These include limited access to finance and markets, inadequate knowledge, and a lack of business and professional skills among young people and women. To address these challenges, the Kenya Red Cross Society’s Innovation Unit plans to continue and upscale training and support programs that will help young people and women develop the necessary skills to succeed in business. The training programs will focus on financial management, marketing, and business planning, which will be designed to enable participants to access capital and markets. Additionally, the Society plans to work with local partners to establish business incubation centres, providing mentorship and coaching to young people and women entrepreneurs. The market assessment report will guide the steps needed to create economic opportunities for young people and women in the region. With the support of local partners and the community, the Kenya Red Cross Society aims to create a sustainable environment for economic growth and development. This effort is expected to improve the lives of young people and women in the area, promoting financial independence and gender equality. In conclusion, the market assessment report generated from this activity provides insights into the economic opportunities available to young people and women in Mombasa. The report also highlights the challenges that must be addressed to enable them to take advantage of these opportunities.
