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AFAWA could be a real game changer for trade in Africa [Business]

AFAWA could be a real game changer for trade in Africa [Business]

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.

The Morning Call

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The Morning Call

The Morning Call is about you. We want to share your opinions on our programme. If you want to contribute to The Morning Call, here are the best ways to get in touch : For more details on how to contribute, click here.