The African Development Bank Group calls for proposals as the Bank seeks to enhance the viability and sustainability of women entrepreneurship enablers.
According to the Bank, 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 funding will be provided through the Bank’s Gender Equality Trust Fund under the Affirmative Finance Action for Women in Africa (AFAWA) initiative. Eligible organizations may request funding of between $100,000 and $250,000.
Applications must be received by midnight on 30 May 2021.
Applicants’ track record in supporting women SMEs, innovation and strong development impact, as well as their capacity to mobilize other sources of funding will be assessed by the Bank.
AFAWA aims to unlock $5 billion in financing for small and medium enterprises owned and managed by women by 2026 according to the Bank.
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“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.
According to AfDB, proposals from all countries will be considered, however, “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 is a flagship program that specifically focuses on increasing inclusive finance for women entrepreneurs on the continent. It 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).
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.