The Heads of State and Government of the G7 have decided to provide support
$251 million for an initiative supporting women's entrepreneurship and driven by the
African Development Bank (ADB).
The AfDB said in a statement on Monday that they had provided this financial support on Sunday under
form of loans to the AFAWA (Affirmative Action Finance for Women in Africa) initiative.
This risk-sharing mechanism is seen as a concrete solution to the commitments
organizations and a direct response to women's call to unlock access to finance.
The program emphasizes the need to establish this funding mechanism for the empowerment
Women's Economics which was adopted at the African Union Heads of State Summit in January
2015 and whose implementation has been assigned to the AfDB.
AfDB President Akinwumi Adesina hailed the "extraordinary support" from all Heads of State and
government of the G7 meeting this weekend in Biarritz (France), making it possible to give a "tremendous impetus" to the
AFAWA program.
According to him, women own more than 30% of SMEs in Africa, despite a financing gap of
$42 billion between female and male entrepreneurs. "This deficit must be filled and quickly",
he urged.
AFAWA program to raise up to $5 billion for female entrepreneurs
Africans, including one billion via the AfDB. "This financial effort in favor of women is the most important of
continent's history," said Mr. Adesina. End