$ 61.8 million to fund women's projects in 21 countries in Africa

Economy and stock exchange

The We-Fi Management Committee has approved funding of $ 61.8 million for the African Development Bank for Women in Africa.

We-Fi is a partnership between 14 donor governments and 8 multilateral development banks, which was established in October 2017 and hosted by the World Bank Group, said a statement.

"This significant support from the We-Fi Business Women's Finance Initiative will help us increase our business and achieve greater results for women entrepreneurs across the continent," said Vanessa Munjar, Director of Women and Civil Society at the World Bank.

"Our ambition with the American Association for Africa goes beyond providing regular assistance to businesswomen," she said.

She noted that through new funding, the financing of small and medium-sized enterprises owned by women in 21 African countries will be increased, particularly in low-income and vulnerable countries, where women entrepreneurs face greater challenges in accessing finance, markets, knowledge and mentoring programs.

In particular, the program activities will be implemented in Botswana, Burundi, Chad, the Comoros, Côte d'Ivoire, the Democratic Republic of the Congo, Ethiopia, Kenya, Mali, Mauritania, Mozambique, Niger, Nigeria, Senegal, Sierra Leone, South Africa, Tanzania, Tunisia, Uganda, Zambia and Zimbabwe.

Where We-Fi-funded activities will be aligned to address the $ 42 billion funding gap between male and female entrepreneurs.

. (tagsToTranslate) African Development Bank (t) World Bank (t) Women's Business (t) Entrepreneurship (t) Economy (t) Stock Exchange