Cape Town — The African Development Bank (AfDB), has launched a project aimed at mapping 160 women entrepreneurs’ association in 16 African countries.
According to Ventures Africa the mapping project is supported by the AfDB’s Finance Action for Women in Africa (AFAWA) initiative and Gender Equality Trust Fund (GETF), and aims to improve institutional capacities, facilitate access to financing and strengthen the associations’ visibility.
The publication also noted that by supporting this project, the AfDB is reinforcing its commitment to African women entrepreneurs, advancing women’s economic empowerment and fostering growth across the continent.
African Business Communities reports that Beth Dunford, the AfDB’s vice-president for agriculture, human and social development, launched the project in Abidjan, Côte d’Ivoire, in June. The ceremony was attended by various associations, coalitions of women entrepreneurs, and umbrella organisations.
“The African Development Bank’s Action Plan for Engaging with Civil Society 2024-2028 illustrates our commitment to inclusivity, transparency and accountability,” Dunford said.
Watch highlights of the event down below:
Also speaking at the event, Jacqueline Tientcheu, president of the Federation of Women Entrepreneurs Organisations in Central Africa, shared her concern about the lack of access to funding for women. “We are truly concerned about the issue of access to funding. However, it’s very difficult in Africa, because most women don’t have a guarantee for raising the funds they need. There are microfinance organisations that support women, but their interest rates are very high. We think that the AFAWA programme, through the Gender Equality Trust Fund, can help us.” she said.
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Compiled by Lauren Petersen
