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15 000 women led businesses to benefit from funding

Updated: Mar 25, 2021


Women Entrepreneurs Finance Initiative
The funding in the third round is allocated for programs to boost women’s entrepreneurship that will be implemented by four multilateral development banks. PHOTO: ImageCollab

Over 15 000 women-led businesses are expected to benefit and about $350 million in additional public and private sector resources are set to be mobilised through a funding allocation by the Women Entrepreneurs Finance Initiative (We-Fi). This multilateral partnership supporting women entrepreneurs in accessing services including finance, markets, technology and mentoring announced its third funding allocation of $49.3 Million on 20 August to address the needs of women entrepreneurs created by COVID-19.

Angela Bekkers, senior external affairs officer of the We-Fi secretariat, says the funding aims to encourage innovation and digital development, partnership development and use of results-based mechanisms to facilitate greater access to financing for women entrepreneurs. She says the funding in the third round is allocated for programs to boost women’s entrepreneurship that will be implemented by four multilateral development banks.

They include the