Mkono 2022 : Our Impact in Kenya

2022 was Mkono’s most impactful year to date. This year, we continued expanding our loans and mentorship programs to include 27 entrepreneurs, all while developing our operational sustainability. As the year came to a close, we were proud to see strong repeat usership from our entrepreneurs, and witness the growth of their businesses.
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A few months into 2023, we take the time to reflect on our impact this past year. We’re excited to share with you our 2022 Impact Report. To get a brief overview, read on.

Our Year in Numbers

Your Donations At Work

This year, Mkono raised $13,800 CAD, with a notable portion coming from our successful summer Global Giving campaign.

​Thanks to your donations, we were able to provide loans to promising entrepreneurs, helping them expand their business by unlocking funds for marketing, inventory, equipment, and more.

8X - That is the number of times that dollars lent are being reused for more loans through healthy repayment.

​Simply said, $1 in lending can create $8 in total value.

Entrepreneur Stories

To better understand our impact, each year, we take the time to interview Mkono entrepreneurs. Through the conversations, we can pinpoint the main uses for loans, and consequently their concrete impact.

We can also get insight on the mentorship we provide to entrepreneurs. With the support of our Allies, entrepreneurs get the opportunity to tackle key challenges to their business, such as Customer Acquisition and Financial Management.

Aside from these interviews, we also regularly organize discussions with entrepreneurs to get their story – what keeps them motivated, how they got their business started, the challenges they faced, etc.

More entrepreneur stories

• Meet Ann: A leader in Female Leadership
• Meet Justine: Making People Feel Right at Home

Impact Themes
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This year’s impact assessment led us to identity 4 key themes:

1. Long-term partnerships – We are invested in the long-term success of our entrepreneurs.
2. Addressing the financing gap – As traditional financing sources in Kenya are expensive and relatively inaccessible, Mkono provides a strong and affordable alternative.
3. Support through economic headwinds – Even through periods of high inflation and economic difficulties, Mkono remains committed to our entrepreneurs.​
4. Social Impact – We are proud to work with entrepreneurs and communities that are dedicated to driving social impact.  Joyce Odundo, for example, through her child caregiving services at Mercy Laura Daycare, tackles on the problem of lack of access to affordable childcare in her community.​​

Our Community

This year, we added 1 new partner, the Gemba Academy for Entrepreneurs. Through our local partnerships with incubators and accelerators, we can identify the entrepreneurs with the highest impact potential, those that would be a good fit for our programs. Without them, our work wouldn’t be possible.

• Check out this article on the importance of local partnerships.

As for our team of volunteers, we concluded the year with 20 core team members and 11 mentors. Notably, we welcomed our new CEO, Stephanie Dowling!

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To access the full Impact Report and get all the details, follow this link.

• Curious about last year’s report. Here it is!
• Learn more about the entrepreneurs we support through this blog page.
• Want to get involved? Check out this page.