Description

AFAWA (Affirmative Finance Action for Women in Africa) is a continental initiative of the African Development Bank (AfDB) aimed at reducing the estimated USD 49 billion financing gap that hinders the growth of women-owned and women-led businesses in Africa. Its approach focuses on mobilizing financial resources, reducing risks for lenders, strengthening the capacity of financial institutions, and improving the ecosystem for accessing finance, in order to position women as key drivers of economic growth.

Objectives

⭐ Facilitate access to finance:
Enable financial institutions (FIs) to bridge the estimated $42 billion credit gap by providing a Guarantee for Guarantees (G4G) loan guarantee mechanism to reduce the perceived risk of financing women-owned SMEs.

🎓 Build capacity:
Enhance the management, finance, and loan readiness skills of women entrepreneurs, while strengthening FIs' capacity to develop and offer financial products tailored to their needs.

⚖️ Improve the business environment:
Engage in dialogue with African governments and key stakeholders to support legal, policy, and regulatory reforms that eliminate structural barriers to women's full economic participation.

📈 Creating Jobs and Value:
Catalyzing the growth and expansion of women-led businesses, thereby contributing to the creation of decent jobs and more inclusive and sustainable economic growth on the continent.