Join Our Official WhatsApp Group

69,000 Women Entrepreneurs in Nigeria, Kenya, Cameroon, Others to Receive $15m Funding From AfDB

Women Entrepreneurs Finance Initiative (We-Fi), under the African Development Bank (AfDB) has announced its intention to fund 69,000 women with $15 million in Nigeria, Cameroon, Egypt, Kenya, Mozambique with a view to improving their small and medium businesses.
The statement obtained from the bankโ€™s website said that this fourth round of financing will benefit almost 69,000 women entrepreneurs in developing economies with access to digital technology and finance.
โ€œThe funds will enable the Africa Digital Financial Inclusion Facility to design and implement programmes to improve digital access to finance women entrepreneurs and reduce the $42 billion financing gap as well as improve their operational efficiency to build back better following the COVID-19 crisis.

โ€œWe-Fiโ€™s fourth round of allocations comes at a crucial time. Womenโ€™s economic empowerment is under pressure due to conflict and insecurity, rising prices and the continuous fallout from the COVID-19 pandemic around the world,โ€ the bank said.
According to We-Fi, the funding which will not only complement Affirmative Finance Action for Women in Africa Initiative (AFAWA) will also be used to broaden access to finance for women small and medium businesses.
 
Want to keep up with this news, make sure to join our WhatsApp or telegram groups.
 
Other Opportunities: