We-Fi (Women Entrepreneurs Finance Initiative (We-Fi) has approved a $15 million facility Africa Digital Inclusion Facility (ADFI). The ADFI is a project of the African Development Bank.
The funding seeks to increase digital solutions to small businessesowned by women in Kenya, Cameroon, Egypt, Nigeria, and Mozambique. It is expected to benefit over 69,000 women entrepreneurs in developing economies.
This is the 4th round of funding by We-Fi and will culminate into a total of $54.8 million to ADFI.
The funding is in line with We-Fi’s efforts to support women entrepreneurs by increasing access to financial products and services, building capacity, expanding networks, offering mentors, and providing opportunities to link with both domestic and global markets.
We-Fi is a partnership between 14 governments, eight multilateral development banks, and other public and private sector stakeholders. The partnership addresses financial and non-financial constraints faced by women-owned/led small and medium enterprises in developing countries. It is hosted by the World Bank Group.
The Women Entrepreneurs Finance Initiative supports women entrepreneurs by scaling up access to financial products and services, building capacity, expanding networks, offering mentors, and providing opportunities to link with domestic and global markets.
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