BUSINESSNews

Visa announces grant to support women entrepreneurs in Africa


Global payments firm Visa has announced a grant in support of African women entrepreneurs. The African Women Impact Fund (AWIF) is an initiative by Standard Bank and the United Nations Economic Commission for Africa (UNECA) to help raise capital for women fund managers across South, East, and West Africa

Visa’s grant to the AWIF is an extension of the She’s Next program, a global advocacy program for women-owned businesses that has been expanded to Sub-Saharan Africa to further champion and strengthen African women business owners as they build, sustain, and advance their businesses.

‘’The aim of She’s Next is to help women-owned businesses thrive and our ambition with this grant is to enable access to a space where women-owned firms are under-represented. said Aida Diarra, Senior Vice President & Head of Sub-Saharan Africa at Visa, “Through this programme we aim to ensure that women are not only recipients but become decision-makers where institutional funding for businesses is concerned.”

Statistics show that African women account for just .6% of private equity while women-led businesses receive only 7% of Private Equity (PE) and Venture Capital (VC) in emerging markets.

“The funding will ensure that these business owners are able to focus on growing their enterprises without the burden of managing short-term debt and other operational costs related to building a successful business” added Diarra.

Follow us on TelegramTwitter, and Facebook, or subscribe to our weekly newsletter to ensure you don’t miss out on any future updates. Send tips to info@techtrendske.co.ke

Facebook Comments

Vivo V40 5G Review - Worth the upgrades + ZEISS

Simon W Nderitu

Simon is a tech enthusiast who keeps a close eye on emerging technologies, startups and the general business environment. You will often catch him totally immersed and drooling over Artificial Intelligence, Machine Learning, Virtual Reality, Augmented Reality, IoT and just about any other tech that promises to revolutionize the way we live. Send tips to snderitu@techtrendske.co.ke

Have anything to add to this article? Leave us a comment below

Back to top button

Discover more from TechTrendsKE

Subscribe now to keep reading and get access to the full archive.

Continue reading