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Apply: AFDB to assist women entreprenuers

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Women entrepreneurs majorly constitute the informal economy. They represent the majority of low-income revenues, making them more vulnerable to crisis and shocks and less likely to have access to finance to expand their businesses and productivity.

The African Development Bank is giving out $150,000 to $250,000 fund to dedicated women across Africa in order to drive gender equality and remove constraints women face across the continent.

To further push forward the agenda of gender equality and women’s empowerment across the continent, the Bank is investing in targeted initiatives through specific projects specifically designed to impact women such as the Affirmative Finance Action for Women in Africa (AFAWA), a flagship initiative that specifically focuses on increasing inclusive finance for women entrepreneurs on the continent. AFAWA’s primary objective is to bridge the $42 billion finance gap for women entrepreneurs in Africa and to unlock their entrepreneurial capacity and full potential.

The AFAWA initiative is unique as it offers a multi-dimensional approach to removing the constraints women entrepreneurs face in Africa. AFAWA aims to unlock up to $5 billion of financing for Women Small and Medium Entreprises(WSMEs) by leveraging the Bank’s financial traditional instruments (lines of credit, trade finance, and equity funds) and through the AFAWA Guarantee for Growth (G4G), an innovative mechanism de-risking women entrepreneurs and enhancing Financial Institutions’(FIs) appetite in lending to WSMEs. These financial mechanisms are supported by technical assistance to financial institutions and WSMEs to ensure that adequate products and services are developed to address women’s financial needs, as well as adequate knowledge to build bankable and sustainable projects. Given the importance of a strong enabling environment to strengthen WSMEs ability to access financing, the goals of the AFAWA G4G program cannot be achieved without inclusive regulatory policies in place, and equally as important, the presence of enablers with sustainable programs to assist women entrepreneurs in their growth.

Application Procedures

The call for proposals will be financed through the Gender Equality Trust Fund (GETF) of the African Development Bank Group.

Proposals should be submitted as one-word document(Not more than 10 pages including cover page and any annex)either in English or French via email to the following e-mail address [email protected] copying [email protected] , with the subject title ‘Submission: Call for proposals for innovative projects to transition women entrepreneurs from the informal to the formal economy, by Midnight GMT Friday, February 25th, 2022.

The applications should strictly be on the GETF word template (downloadable on the link below). Awards will be announced in June 2022, through the Bank’s website and other outlets. Those who do not hear from us by then will be considered unsuccessful. Short-listing and selection shall be done in accordance with the Bank’s policies, rules, and procedures.

The Bank is under no obligation to shortlist any company, partnership, entity, or association. Entities with government and/or private sector entities are welcome to apply.

For more information, click here

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