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.
@ameliamartha1
02:00
Tunisia milk market 'collapsing' as feed prices soar
11:15
Davos: Spurring growth in developing countries [Business Africa]
01:47
Dakar 2 summit: 'Africa must learn to feed itself', says Macky Sall
Go to video
Sierra Leone: a new law imposes 30% of positions for women
11:09
Europe, Africa struggle to implement summit pledges [Business Africa]
Go to video
USA: Yellen's African tour to counter Chinese influence