The African Development Bank (www.AfDB.org) initiated a project on June 26 aimed at mapping 160 women entrepreneurs’ associations across 16 African countries.
Supported by the Bank Group’s Affirmative Finance Action for Women in Africa (AFAWA) initiative and Gender Equality Trust Fund (GETF), the mapping project seeks to enhance the visibility of these associations, strengthen their institutional capacities, and facilitate access to financing.
This initiative marks a significant stride in the Bank’s commitment to empowering African women entrepreneurs, promoting their economic participation, and fostering inclusive growth across Africa.
Beth Dunford, Vice-President for Agriculture, Human and Social Development at the Bank, officially launched the project at an event in Abidjan attended by various women entrepreneurs’ associations, umbrella organizations, coalitions, and approximately two hundred virtual participants.
“The African Development Bank’s Action Plan for Engaging with Civil Society 2024-2028 demonstrates our dedication to inclusivity, transparency, and accountability,” Ms. Dunford emphasized in her opening remarks.
The project also aims to encourage collaboration and networking. According to Zeneb Touré, head of the Bank’s Civil Society and Community Engagement Division, “Women entrepreneurs’ associations play a pivotal role in driving reforms and innovations that support female entrepreneurship and facilitate women’s access to economic resources necessary for their full potential.”
Ms. Dagou Yvonne Nivine Gadji, representing the SEPHIS Foundation, which facilitates Bank funding access for women-led SMEs in sub-Saharan Africa, stressed that the mapped associations would serve as “catalysts for reforms, enhancing women’s empowerment, and strengthening the capacity of numerous other women entrepreneurs’ networks.”
Jacqueline Tientcheu, President of the Federation of Women Entrepreneurs Organizations in Central Africa (FOF-AC), expressed concerns about funding accessibility, noting, “Raising funds remains a significant challenge for African women, as most lack adequate guarantees. While microfinance institutions support women, their high interest rates pose barriers. We believe that the AFAWA program, through the Gender Equality Trust Fund (GETF), can offer assistance.”
This mapping project is poised to make meaningful contributions to advancing women’s entrepreneurship and economic empowerment across Africa, supported by strategic partnerships and inclusive initiatives.
