12.5 million USD to support women entrepreneurs

The African Development Bank (AfDB) and Axian Telecom are launching a program to support women entrepreneurs in Madagascar, Tanzania, and Senegal.

An investment of 12.5 million USD has been set up to support women entrepreneurship in three African countries: Madagascar, Tanzania, and Senegal. This project, spearheaded by the African Development Bank (AfDB) and Axian Telecom, is divided into two main components.

Firstly, 10 million USD is allocated to 22,000 Malagasy beneficiaries. Through Mvola, these entrepreneurs gain access to financial services. The goal is to provide them with digital tools, which facilitate the management and growth of their businesses, thereby strengthening their economic autonomy and encouraging their integration into the formal sector.

Secondly, 2.5 million USD is utilized for training and financing businesses. In this regard, the program targets 34,000 enterprises across the three countries. Its objective is to bridge the gap in access to finance and digital tools, particularly for women in entrepreneurship.

According to Solomon Quaynor, Vice President of the AfDB, « This contribution helps to reduce the gap in access to finance and the use of digital tools, especially for women ». Hassan Jaber, CEO of Axian Telecom, adds, « This support also provides a new solution to promote financial inclusion in Africa ». Thus, this program enables women to better integrate into economic development.