Africa Investment Forum Advances Gender-Lens Financing, Unlocking $5 Billion for Women

Minister Fettah emphasized that shifting perceptions in financial institutions is key to unlocking access to finance.

 

Bankers, development finance leaders, policymakers, civil society, and women entrepreneurs gathered at a strategic breakfast forum on November 27 during the Africa Investment Forum Market Days to accelerate gender-lens financing across North Africa. The event, hosted by the African Development Bank Group’s AFAWA initiative and the African Guarantee Fund, focused on bridging the persistent financing gap for women-led businesses.

---

Concrete Action for Women Entrepreneurs

Morocco’s Minister of Economy and Finance, Nadia Fettah, opened the forum with a powerful statement:

“Women have nothing left to prove. They have already done their part of the work. It is up to the ecosystem to recognize that the talent, innovation, and desire are already here. Supporting women’s entrepreneurship is not just correcting an injustice—it is amplifying the growth and ambition of our continent.”

Despite evidence showing women-led businesses are low-risk, high-return, only 11% of women’s businesses in Morocco secure funding. Minister Fettah emphasized that shifting perceptions in financial institutions is key to unlocking access to finance.

---

AFAWA Driving Impact Across Africa

Dr. Sidi Ould Tah, President of the African Development Bank, reaffirmed the institution’s commitment to AFAWA, promising to bring guarantee mechanisms closer to women entrepreneurs to reduce reliance on collateral.

Jules Ngankam, CEO of the African Guarantee Fund, outlined the AFAWA Guarantee for Growth (G4G) program, which has disbursed $800 million to 12,000 women entrepreneurs across Africa since 2021, with a goal of reaching $3 billion. AFAWA aims to unlock $5 billion in total financing, with $2.8 billion approved and $1.3 billion already fully disbursed. Additional African Development Bank instruments, including credit lines, trade finance, and equity investments, will deploy $2 billion more to women-led businesses.

---

Addressing Barriers and Bias

Panel discussions highlighted supply-side and demand-side obstacles, including:

• Informal business operations and incomplete financial records.

• Business registration challenges for long-standing informal enterprises.

• Unconscious bias in banking decisions limiting access to credit.

Omar Shawki, Managing Partner at ForvisMazar, emphasized that addressing these systemic issues is critical to scaling women-led enterprises.

---

Commitments from Morocco and Mauritania

Leaders from Morocco and Mauritania pledged new guarantee partnerships and expanded financing for women-led SMEs, signaling tangible regional commitment to gender-lens finance.

The forum also highlighted the success of gender bonds as an investment vehicle:

• Morocco: $20 million gender bond via CIH Bank (2021)

• Equity Bank: $32 million bond, first in sub-Saharan Africa

• Ecobank: $16 million issuance in West Africa

All three gender bonds were oversubscribed, demonstrating strong investor appetite and the potential for scalable financing solutions for women entrepreneurs.

---

Looking Ahead

The 2025 Africa Investment Forum Market Days, held over three days, is themed “Bridging the Gap: Mobilizing Private Capital to Unlock Africa's Full Potential.” The forum encourages financial institutions and investors to make measurable commitments to gender-lens investments and further expand financing for women-led businesses across the continent.