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African Development Bank's Affirmative Finance Action for Women in Africa (Afawa) Is Investing in Women, Accelerating Africa's Progress Toward Gender-Inclusive Economic Growth

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Announcement - Africa is undergoing a fundamental reset in mindset toward investing in its women entrepreneurs. For too long, too many commercial banks and other financial institutions have been on the wrong side of business practice when doing business with Africa's women-led small and medium enterprises.

African Development Bank's Affirmative Finance Action for Women in Africa Is Investing in Women, Accelerating Africa's Progress Toward Gender-Inclusive Economic Growth

Fact is, numerous studies have shown that women in Africa, as in many places worldwide, are a better credit risk for microfinance than men, and are more trustworthy - and by a wide statistical margin, women produce higher repayment rates than men. The series introduced AFAWA's partnership services to the Nigerian market. They included training sessions that show financial institutions how to evaluate their products and services through a gender-smart lens to better address the needs of women entrepreneurs.

Last month in Nairobi, our Guarantee for Growth team discussed scaling up the program to reach more entrepreneurs like Mary Thou. Joining us at the table were representatives from AFAWA donor countries and organizations that include participating G7 countries, France, Italy, Canada, Germany, as well as the Netherlands, Sweden and the Women Entrepreneurs Finance Initiative .

 

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