EntrepreneurshipNews

AfDB Initiates Project to Map Women Entrepreneurs’ Associations Across Africa

The African Development Bank (www.AfDB.org) announced on 26 June the launch of a project designed to map 160 women entrepreneurs’ associations in 16 African countries.

This initiative, backed by the Bank Group’s Affirmative Finance Action for Women in Africa (AFAWA) initiative and the Gender Equality Trust Fund (GETF), seeks to enhance the visibility of these associations, bolster their institutional capacities, and facilitate their access to financing.

Through this project, the Bank reinforces its commitment to supporting African women entrepreneurs, promoting women’s economic empowerment, and driving inclusive growth across the continent.

Beth Dunford, the Bank’s Vice-President for Agriculture, Human and Social Development, officially inaugurated the project at a ceremony in Abidjan. The event was attended by numerous associations, umbrella organizations, and coalitions of women entrepreneurs, with about two hundred participants joining virtually.

“The African Development Bank’s Action Plan for Engaging with Civil Society 2024-2028 underscores our dedication to inclusivity, transparency, and accountability,” remarked Ms. Dunford in her opening speech.

The project also aims to foster collaboration and networking. “Women entrepreneurs’ associations are catalysts for reforms and innovations that support female entrepreneurship and enable women to access the economic resources necessary to reach their full potential,” said Zeneb Touré, head of the Civil Society and Community Engagement Division at the Bank.

Ms. Dagou Yvonne Nivine Gadji, representing the SEPHIS Foundation – which facilitates access to Bank funding for women-led SMEs in sub-Saharan Africa – highlighted that the associations identified for the mapping project would act as “catalysts for reforms, a boost to women’s empowerment, and a foundation for building the capacity of several other networks of women entrepreneurs.”

Jacqueline Tientcheu, President of the Federation of Women Entrepreneurs Organizations in Central Africa (FOF-AC), stated, “We are deeply concerned about the issue of access to funding. It is very challenging in Africa, as most women lack the collateral needed to secure the necessary funds. While microfinance organizations do support women, their interest rates are prohibitively high. We believe that the AFAWA programme, through the Gender Equality Trust Fund (GETF), can provide much-needed assistance.”

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