AWIEF, AGF, FSDH Launch Accelerator for Women Entrepreneurs in Nigeria
TLDR
- AWIEF has partnered with AGF and FSDH Merchant Bank to launch the AWIEF Growth Accelerator Program
- It aims to improve access to finance and markets for women-led small and medium enterprises (WSMEs) in Nigeria
- The initiative is backed by the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA)
The Africa Women Innovation and Entrepreneurship Forum (AWIEF) has partnered with the African Guarantee Fund (AGF) and FSDH Merchant Bank Limited to launch the AWIEF Growth Accelerator Program, which aims to improve access to finance and markets for women-led small and medium enterprises (WSMEs) in Nigeria.
The initiative is backed by the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA), which seeks to unlock up to $3 billion in financing for women entrepreneurs across the continent. AGF, a non-bank financial institution focused on economic development, will implement the initiative, while FSDH Merchant Bank will provide loans to selected businesses.
The partnership is designed to bridge the funding gap for WSMEs, particularly in sectors driving economic growth. Applications are open until March 31.
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Key Takeaways
Women entrepreneurs in Africa face significant barriers to financing, limiting their business expansion. This program aligns with broader efforts to reduce the gender financing gap and drive economic inclusion. By combining guarantee mechanisms with direct lending, the initiative provides scalable financial solutions that could catalyze growth for thousands of women-led businesses in Nigeria.
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