IFC Launches Program to Empower Women-led Startups in Sub–Saharan Africa
To support women entrepreneurs across sub–Saharan Africa, IFC today launched She WINS Africa, a program designed to unlock the potential of hundreds of women-owned startups by offering them advice, training, mentorship, and improved access to finance.
The She WINS Africa program, launched during the Africa CEO Forum in Abidjan, expects to support 400 women-led startups across sub–Saharan Africa with skills training and capacity building to strengthen their businesses and help them more easily access financing.
In addition to training women entrepreneurs, She WINS Africa will provide gender-smart investing training for funds, accelerators, and venture capital investors to help accelerate investments in women-led startups.
She WINS Africa builds upon the success of IFC’s She WINS Arabia program, which was launched in 2021 and has to date provided training to more than 80 women entrepreneurs and support to more than 30 funds and accelerators.
Women entrepreneurs interested in applying to the She WINS Africa program can contact shewinsafrica@ifc.org
Across Africa, women entrepreneurs often lack access to capacity-building support to help them launch or grow their businesses,” said Mohamed Gouled, Vice President of Industries at IFC. “Through She WINS Africa, IFC is helping to address that need, ensuring that women are supported in their ventures and can attract the investment they need to build upon their entrepreneurial determination and creativity.”
African women have the highest rate of entrepreneurial activity globally and are more likely to start businesses compared to their female counterparts in other parts of the world, according to a Harvard University study. However, they face numerous barriers, including accessing the finance, networks, and capacity building they need to succeed.
Championing women in the private sector is central to IFC’s strategy in Africa, where IFC promotes gender equality and equal access to opportunities. IFC provides leadership training, market access, peer networks, and business management skills.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
Source: msmeafricaonline.com
