Boosting the Financial Capacities of over 200 Women Cooperatives in Côte d’Ivoire’s Staple Crop Food Sector
A vibrant market scene showing women entrepreneurs selling fresh fruits and vegetables in South Africa, highlighting women’s role in local commerce.
The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative has reached a landmark $1 billion in approved funding designated for lending to African women entrepreneurs. This is yet another milestone for the bank following an historic summit last week to tackle the escalating challenges of food security in Africa. AFAWA was launched in 2015 in Dakar during the first Feed Africa conference (Dakar 1 Africa Food Summit). Women run the majority of Africa’s agricultural sector small and medium-sized enterprises, yet they face significant barriers to accessing finance. Across the continent, African women entrepreneurs face an estimated $42 billion gender financing gap compared to men.
SOURCE: AFDB