African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) and Women Entrepreneurs Finance Initiative Convene Partners to Advance Financing for Women Entrepreneurs

The African Development Bank Group’s (https://www.AfDB.org) Affirmative Finance Action for Women in Africa (AFAWA) kicked off a four-day learning event focused on practical ways to improve women entrepreneurs’ access to finance and other economic opportunities across Africa.

Hosted jointly with the Women Entrepreneurs Finance Initiative (We-Fi), a World Bank-hosted partnership, the 22-25 September session brings together representatives of the European Bank for Reconstruction and Development, the Inter-American Development Bank, the International Finance Corporation, the Islamic Development Bank and the World Bank Group, as well as the We-Fi Secretariat. The African Development Bank’s Africa Digital Financial Inclusion Facility, which also receives We-Fi financing, is participating.

The event combines visits to financial institutions and women-owned businesses in Côte d’Ivoire with peer-learning and working sessions on digital finance, business growth, research, care services, networks, market access, technology and climate innovation. It showcases the real-life impact of the African Development Bank’s partnership in building women-led businesses across the continent.

“Our collaboration clearly illustrates the approach we are taking across Africa: working hand in hand with financial institutions, through guarantees and technical assistance, so that they can better meet the needs of women-led businesses,” Melissa Basque-Roux, AFAWA’s Coordinator, said at the opening session.

On the first day, delegates visited NSIA Banque Côte d’Ivoire, a subsidiary of the pan-African NSIA Group, which employs a range of financial tools to support women-owned businesses.

"We are convinced that women entrepreneurs play a decisive role in the economic development of our country,” said NSIA Banque Côte d'Ivoire’s Deputy General Manager, Sékou Chérif Sanogo. “We are committed, in partnership with African Development Bank, to offering women entrepreneurs tailored financing solutions as well as local support. This enables them to achieve their ambitions and sustainably develop their businesses.”

Delegates also met three entrepreneurs funded by AFAWA and NSIA: Ariane Monney, owner of the Casa Èkwa restaurant and hospitality business; Yvette Yelematou Soro of construction firm Lemias Engineering; and Blandine Koffi, owner of Poisson d’Afrique, a fisheries business.

The entrepreneurs shared their experiences, including the challenges they faced in developing their businesses before learning about AFAWA-backed financing, and how it has improved their access to finance.

“There were other banks. When I needed a guarantee, when I needed a loan, NSIA was there for me from the beginning,” Soro said.

Sessions will also cover digital finance, helping micro-enterprises grow into established small and medium-sized businesses, research, care responsibilities, networks, market access and technology and climate innovation.

Felicia Siegrist, Senior Knowledge Officer at We-Fi said the partners’ goal goes beyond finance alone: “This is also about setting up internal structures and processes to serve women entrepreneurs effectively and sustainably.”

The event is also consistent with the African Development Bank’s Four Cardinal Points strategic vision, particularly its focus on access to capital, stronger financial systems and institutions, and harnessing Africa’s demographic transformation for economic development.

The programme will conclude with a review of lessons learned and identification of areas where participating institutions can improve their support for women entrepreneurs.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media contact:
Alphonso Van Marsh
Chief Digital Content and Events Officer
Email: media@afdb.org