Friday, July 1, 2022
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Funding

We-Fi announces a $15 million funding round for African women entrepreneurs to improve their digital financial solutions

Tech Gist Africa by Tech Gist Africa
04/29/2022
in Funding, The Big 5, Women Empowerment
0 0
0
African Women in Tech

African women in tech

0
SHARES
Share on FacebookShare on Twitter

The African Development Bank’s (www.AfDB.org) Africa Digital Financial Inclusion Facility (ADFI) will receive $15 million from the Women Entrepreneurs Finance Initiative (We-Fi) to develop and extend digital financial solutions to women-owned small and medium businesses in Cameroon, Egypt, Kenya, Mozambique, and Nigeria.

This $54.8 million fourth round of funding will help over 69,000 women entrepreneurs in poor countries gain access to digital technology and finance.

The monies will allow the Africa Digital Financial Inclusion Facility to design and implement programs to increase digital access to finance for women entrepreneurs, closing a $42 billion funding gap and boosting operational efficiency to help them recover from the COVID-19 crisis.

“The fourth round of We-Fi allocations arrives at a critical juncture. “Conflict and instability, rising prices, and the ongoing impact from the Covid pandemic around the world are putting a strain on women’s economic empowerment,” said Bärbel Kofler, Parliamentary State Secretary of Germany’s Ministry for Economic Cooperation and Development. “It gives me great pleasure to see our Implementing Partners putting together such solid plans to promote women-owned enterprises.” Women’s entrepreneurs will need access to technology and capital to realize their full potential.”

“Digital financial solutions are critical for enhancing people’s quality of life in Africa and closing the gender gap in access to finance.” This funding, which is in addition to the Affirmative Finance Action for Women in Africa Initiative (AFAWA), will be used to “broaden access to finance for women small and medium businesses while also providing an avenue for increased economic empowerment and resilience,” according to Stefan Nalletamby, Director of the African Development Bank Group’s Financial Sector Development Department.

The Islamic Development Bank, the Inter-American Development Bank Group, and the World Bank Group were among the multilateral development banks that got allocations in this fourth round.

 

Read more on Tech Gist Africa:

Startups from Nigeria and Ethiopia are invited to apply for a food security program

The International Finance Corporation (IFC) invests $15 million in ‘Algebra Ventures’ to help Egyptian tech startups

AWIEF launches a USAID-funded program, Enhanced Small Medium Enterprises Investment and Export Readiness Through a Digital Platform. 

ShareTweetShare

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

Venture Capital
Funding

The Pros and Cons of Venture Capital Funding

by Tech Gist Africa
06/29/2022
0

Investors who feel that a startup business or a small company has the potential for significant long-term growth will often...

Read more
FirstCheck Tech News Africa

FirstCheck Africa has received a commitment of $2 million from TLcom, bringing the total amount of its debut fund to $10 million

06/28/2022
instagram

Instagram is trying out new ways of verifying a user’s age on its app

06/28/2022
LaVida Studios

LaVida Studios, a Nigerian film production company, secures $50 million in funding

06/28/2022
Jobop Morocco

Jobop, a Moroccan startup, has secured a $1 million seed round

06/28/2022
Next Post
CcHub Google Rwanda

CcHub and Google have selected nine startups for the Rwandan fintech program

Toothsi India

Dental startup Toothsi raises $40M

Turtlemint India

Insurtech startup Turtlemint raises $120M

No Result
View All Result

The Big 5

Venture Capital

The Pros and Cons of Venture Capital Funding

by Tech Gist Africa
06/29/2022
0

...

instagram

Instagram is trying out new ways of verifying a user’s age on its app

by Tech Gist Africa
06/28/2022
0

...

innovations

Future technological innovations that will significantly transform the world in the near future

by Tech Gist Africa
06/24/2022
0

...

microsoft internet explorer

Microsoft has officially shut down Internet Explorer

by Tech Gist Africa
06/16/2022
0

...

Launch Africa ventures

The first fund of Launch Africa Ventures, which closed at $36.3 million, has made its 100th investment

by Tech Gist Africa
06/15/2022
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.