The Morning Call
The Affirmative Finance Action for Women in Africa (AFAWA) is an initiative poised to change trade in Africa, specifically for the 70% of women entrepreneurs in the informal sector, according to the African Development Bank (AfDB).
On Sunday August 25, the AfDB announced $300 million funding for AFAWA on the sidelines of the G7 Summit in Biarritz. G7 countries approved a loan contribution of $251 million towards the initiative with France alone contributing $135 million.
AFAWA is a risk sharing initiative aimed at closing the $42 billion financing gap between male and female entrepreneurs.
It was launched by African Heads of State back in 2016 in Lusaka, Zambia and then entrusted to the AfDB. The pan-African bank hopes to raise credit of up to $1 billion per year for the next five years to support women entrepreneurs through the initiative.
Go to video
Nigerians struggle with fuel shortages as queues form across major cities
Go to video
Diversifying the Democratic Republic of Congo's economy
11:08
Can Africa’s soil sustain food security? [Business Africa]
01:49
Togo: Women candidates campaign ahead legislative and regional elections
01:56
Ivory Coast: Women cooperative for vegetables transforming rural village
01:30
UN reports widening global inequality in sexual and reproductive health and rights