Today's woman not shy of being unashamedly wealthy

Joanne Mwangi-Yelbert describes herself as a business leader who happens to be a woman, not a woman who happens to be a business leader.

This does not, however, mean she is oblivious to the gendered dynamics of being an entrepreneur.

Granted that wealth is unequally distributed between men and women in Kenya, the cost of entry into business for most women has been prohibitive.

With over two decades of experience in business, Ms Yelbert, the chief executive officer of Professional Marketing Services (PMS), shares her recipe for running a successful enterprise and debunks the myth of a work-life balance.

From her experience as a judge at KCB’s Lion’s Den, the CEO says that today, women are not afraid of being ‘unashamedly wealthy’.

“I found that the women did not compete any less than men. In the past, women would gravitate towards micro and service-based businesses; however, the tide has been turning over the years, and women are more innovative,” she says.

Nonetheless, studies conducted by the University of Nairobi’s Women’s Economic Empowerment Hub have shown that women benefit less from credit facilities.

Strategy for startups

For credit concerns, Ms Yelbert says first-time business owners should avoid expensive credit facilities and leverage their savings and contributions from friends and family.

“Starting a new business is an experiment, so you have to start at a small scale, and after testing the market and having proof of concept, you can scale up. I don't believe in loans for start-up capital because borrowed money has to be repaid and, at times, with hefty interest rates.”

Ms Yelbert runs a reputable marketing and communications agency behind the success of brands such as Vision 2030, Kasneb and Bidco. In her opinion, branding is what sets a business apart.

“You engage with a product because it is the first thing that pops into your mind. After using a product, the brand remains memorable. People must believe in your product; you do this by being consistent.”

Moreover, she says the government has introduced policies that level the playing field for women in business. One of the most progressive ones that Ms Yelbert has lobbied for is the Access to Government Procurement Opportunities programme that mandates the government to award 30 per cent of procurement opportunities to women, youth and persons with disabilities.

The 30 per cent requirement does not apply to the private sector. Something that the business maestro, who was awarded a Head of State of Commendation for her work in support of the growth of women-owned and led enterprises, thinks should change.

Also read: Empower women financially

“The private sector should be ahead of the government in affirmative action. Although you cannot force the private sector to set aside procurement opportunities for vulnerable groups, bodies such as the Kenya Chamber of Commerce should look into rewarding progressive companies, and areas of intervention should be explored.”

In her experience, the prevalent challenge for women doing business is time poverty. She had to contend with this while growing her business and being a young mother.

“I would find that I needed to spend time with my family but, at the same time, wanted to grow this business. I was in a season where I didn’t have money to hire people who would do the job as well as I would, so I did everything.”

At the same time, society would expect her to strike a balance between her work and family. In hindsight, she says ‘balancing’ is a myth that women should not be guilt-tripped about.

“Seasons of life dictate how much time a woman spends at work or home. These seasons will come and go, enjoy the season you are currently in and don’t feel guilty about it."

As for a life partner, she says that is the best decision for a woman looking to grow in her career or business.

“One of the fears I had was that I was too successful to get married, but the reality is; if you meet the right partner, your success won't intimidate him. He will be motivated. If you are involved with a man who does not care for your success – it doesn't matter how small you are – he will want you smaller.”

After conquering the business world, the CEO has now trained her eyes on working in the public sector, where she is the chairperson of the Kenya Tourism Board.

Being one of the worst-hit sectors during the Covid-19 crisis, she hopes to amplify the brand globally and incorporate vulnerable groups such as the youth and women to be at the centre of tourism.

As she unravels a new chapter in her life, Ms Yelbert says her life view over the years has progressively changed. Going forward, her ambition is to change lives.

“I used to look at my validation on the basis of how much money I made, but I am at a point where I am asking myself: how many lives am I impacting? This is where I draw my validation from. If I am doing this and not benefitting other people, what am I doing? Money is not the be-all and end-all.’’

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