The Affirmative Finance Action for Women in Africa (AFAWA), an initiative of the African Development Bank (AfDB) Group initiative has launched its second call for proposals for the Women Entrepreneurship Enablers programme.
This is contained in a statement issued by the Communication and External Relations Department of the African Development Bank (AfDB) on Tuesday.
AFAWA is an initiative targeted at unlocking five billion dollars in financing for small and medium-sized enterprises, owned and managed by women by 2026.
AfDB’s Director for Gender, Women and Civil Society, Malado Kaba, said AFAWA’s proposals drew nearly 1,000 applications from organisations.
“Our first call for Women Entrepreneurship Enablers proposals drew nearly a thousand applications from organisations doing some groundbreaking work to equip women with the tools to expand their businesses.
“Today, we are excited to pursue this initiative by bringing in a second cohort and funding the development of their capacity-building activities allowing women entrepreneurs to obtain significant financing and scale,” Kaba said.
Furthermore, AFAWA’s Manager, Esther Dassanou, said entrepreneurship enablers play an important role in women's skills.
“Entrepreneurship enablers play an important role in bolstering the skills of women to establish ‘bankable’ SMEs.
“However, the enablers themselves often face challenges, such as viable long-term growth plans and lack of financing, which reduce their reach, impact, and sustainability,” Dassanou said.
The programme targets women’s business associations, incubators, accelerators, women-led cooperatives, and civil society organisations that promote the development of women entrepreneurs in Africa.
According to the statement, AFAWA is offering grants of up to 250,000 dollars to organisations helping prepare African women-led businesses to drive the continent’s economies.
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