African development bank launches funding project for African women entrepreneurs. The multilateral development financial institution for African countries, headquartered in Abidjan, announced the launch of an initiative.
The initiative seeks:
1. To fund projects that focus on enhancing the viability and sustainability of organizations.
2. It also aims at empowering and enabling African women entrepreneurs.
Image credit: AfDB
The bank says women’s business associations, incubators, accelerators, and cooperatives that advance women’s entrepreneurship, can apply for funding. The initiative aims to fund innovative projects or programs whose aim is to bolster the skills of small and medium enterprises (SMEs) owned and run by women across the continent.
Stating its motive for the funding initiative, the apex financial institution says that ”[e]ntrepreneurship enablers, which include business associations and civil society organizations, play an important role in empowering women to establish bankable SMEs and other businesses. However, the enablers themselves often face challenges, such as long-term growth plans and lack of financing, which reduce their reach, impact, and sustainability.”
For more information, visit African development bank website