AfDB Invites Business Enablers to Apply for Funding to Support Women Entrepreneurs

Proshare

Wednesday, May 12, 2021 / 09:03 AM / by AfDB / Header Image Credit: AfDB


This May, the African Development Bank Group is launching a call for proposals for projects enhancing the viability and sustainability of women entrepreneurship enablers.


Women's business associations, incubators, accelerators, and cooperatives that advance women's entrepreneurship, can apply for funding for innovative projects or programs to bolster the skills of small and medium enterprises (SMEs) owned and run by women across Africa, the Bank announced.


Entrepreneurship enablers, which include business associations and civil society organizations, play an important role in empowering women to establish bankable SMEs and other businesses. However, the enablers themselves often face challenges, such as long-term growth plans and lack of financing, which reduce their reach, impact and sustainability.


"Women business enablers are critical to creating a viable enabling environment in which women entrepreneurs can grow and create businesses that generate jobs for the continent. Through the Affirmative Finance Action for Women in Africa initiative, the Bank is committed to supporting enablers to strengthen the business and financial skills as well as wealth-creating capacity of their members," said Esther Dassanou, manager of the program, also known as AFAWA.


The Bank will assess applicants' track record in supporting women SMEs, innovation and strong development impact, as well as their capacity to mobilize other sources of funding. Eligible organizations may request funding of between $100,000 and $250,000, provided through the Bank's Gender Equality Trust Fund.


Applications must be received by midnight on 30 May 2021.


"This call for proposals is an opportunity for direct and concrete support for women entrepreneurship enablers to scale up their growth and impact, and advance women's financial inclusion on the continent," said Vanessa Moungar, Bank Director for Gender, Women and Civil Society.


While all countries will be considered, proposals from the following countries that already align with the ongoing AFAWA Guarantee for Growth Program pipeline are strongly encouraged to apply: Cameroon, Congo-Brazzaville, Democratic Republic of Congo, Gabon, Kenya, Lesotho, Madagascar, Malawi, Morocco, Mozambique, Senegal, South Africa, Tanzania, Rwanda and Zambia.


For more details on the process and to access the proposal application click here.


AFAWA aims to unlock $5 billion in financing for small and medium enterprises owned and managed by women by 2026. AFAWA is supported by the Bank's partners and donors, the Group of Seven (G7) countries as well as the Netherlands and Sweden, and the Women Entrepreneurs Finance Initiative (We-Fi). The funding, which aims to strengthen the ecosystem for women's entrepreneurship, is in line with the Bank's agenda to further gender equality and women's empowerment.


Proshare Nigeria Pvt. Ltd.


Related News

  1. Nigerian Businesses: 618 Bees, Emblue, And Gbemisoke Featured In Global PRCA Case Study
  2. Role of SMEs in Driving Economic Recovery in Nigeria Through Markets and Intellectual Property
  3. JA Nigeria Partners for Growth, Empowers Young People and Grooms Digital Entrepreneurs
  4. Call for Proposals for Small and Medium Enterprises in Nigeria
  5. MSMEs: A Path to Recovery
  6. Ecobank Nigeria Launches Radio Programme for SMEs
  7. Why The FG Should Work With Clusters On MSME Interventions - Ayo-Bankole Akintujoye
  8. 4 Affordable Hosting Providers for Startups to Consider
  9. How to Manage Your Business from Home
  10. FG Flags off The Implementation of N75bn MSME Survival Fund

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
READ MORE:
Related News
SCROLL TO TOP