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Fostering more inclusive and just societies

AFAWA

  • African Development Bank
  • Africa
  • Selected project

Project presentation

Africa is a world leader when it comes to female entrepreneurship. Women entrepreneurs are the backbone of African economies, accounting for 58% of the continent’s self-employed population and making up a large part of micro, small and medium-sized businesses especially in agriculture, and food production, trade, tourism, care, fashion, and general services. Unfortunately, women business owners deal with barriers such as:
  • Challenges in accessing financial services partially due to their lack of collateral. Africa’s access to finance gap is estimated at $42 billion for women entrepreneurs.
  • Their high representation in the informal sector
  • Limited access to business education, skills and role models ,
  • Discriminatory social norms and unconscious biases
 
AFAWA works to reduce the access to finance gap for women entrepreneurs and unleash their entrepreneurial potential.



Organization presentation

The overarching objective of the African Development Bank (AfDB) Group is to spur sustainable economic development and social progress in its regional member countries (RMCs), thus contributing to poverty reduction. The Bank achieves this objective by mobilizing and allocating resources for investment in Regional Member Countries; and providing policy advice and technical assistance to support development efforts. The Bank looks to accelerate the inclusive and green growth of the continent.

Impact

As of August 2022 the African Development Bank through AFAWA has approved over $700 million for on-lending to 3000 women entrepreneurs in 23 countries via 40 financial institutions.


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Impact

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