Women-owned ventures in Africa will profit from the Africa Development Bank’s funding
Kenyan women enterprises will get $5B funding. Source: pexels.com
With $5 billion funding from the AFDB over the next five years, women enterprises will be able to expand their businesses.
Based on the bank’s initial pillar in its Gender Strategy 2021-2025, businesswomen will access a wide variety of assistance such as business operations, credit, and financial planning not to mention technical support.
The bank will also make more attempts to create more investment avenues for women who are in the non-monetary sectors.
In the second pillar, AFDB will ensure that there is an increase of avenues for women in the labor sector such as mathematics, engineering, and science sectors. To enhance information and skills, the AFDB will use technology as the bargaining chip.
AFDB’s third pillar focuses on access to social services. This will be enhanced by the use of gender-responsive quality infrastructure developments, a move that will ensure women in business gain positively from infrastructure developments.
A study carried among 1,300 female business persons in 30 African countries showed that 80% of medium and small business owners were forced to close down operations in their establishments briefly due to the coronavirus restrictions.
We’ve reported that Kenya’s national debt surpassed a Ksh 10 trillion mark
SEE ALSO:
Pay Space
Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.
