AfDB Supports African Female Entrepreneurs With $251m
Reviewing recent developments that took place in the MSME space these past few weeks. Last week September 2nd to September 7th, 2019 saw The African Development Bank give out $251m to African Female Entrepreneurs. This was part of the Affirmative Finance Action for Women in Africa (AFAWA) initiative to support women entrepreneurs in Africa.
It is designed to improve the accessibility of funds to teeming female entrepreneurs across Africa, to empower them to contribute to their respective economies.
This development is courtesy of the G-7 leaders to boost gender inclusion in Africa through entrepreneurship.
The AFAWA initiative was adopted by the African Heads of State during a summit in 2015. It was assigned to the African Development Bank to implement.
AFAWA’s target is to raise $5b while AfDB will provide $1b financing to support African female entrepreneurs.