Digital Finance Drive to Back 34,000 Women-Led African Businesses

Africa has the highest rate of female entrepreneurship in the world, while the financing gap facing women entrepreneurs is estimated at $49 billion.

A new financial inclusion programme from AXIAN Group and the African Development Bank will expand access to funding, digital services and business support for more than 34,000 women-led enterprises across five African countries.

The initiative is backed by the African Development Bank's Affirmative Finance Action for Women in Africa initiative, known as AFAWA, and the Women Entrepreneurs Finance Initiative, or We-Fi. It responds to a persistent problem within Africa's business landscape: women establish and manage enterprises at exceptionally high rates, yet many struggle to secure the capital needed to buy equipment, hire workers, enter new markets or manage everyday operating costs.

Africa has the highest rate of female entrepreneurship in the world, while the financing gap facing women entrepreneurs is estimated at $49 billion. Many business owners remain outside conventional banking systems because they lack formal credit histories, suitable collateral or access to financial products designed around the realities of smaller enterprises.

Mobile platforms will bring finance closer to entrepreneurs

AXIAN Group will deliver the programme through its Mixx and MVola digital financial services platforms, using mobile technology to connect women entrepreneurs with loans, financial education, business development services and digital inclusion support.

Digital lending and alternative credit assessment could make financing available to women who may not qualify under traditional banking requirements. Mobile money services will give entrepreneurs a practical way to receive payments, manage transactions, build financial records and access formal services without relying on nearby bank branches.

The financial services component will support 34,000 women-led micro, small and medium-sized enterprises in Madagascar, Tanzania and Senegal. Products will be tailored to the needs of women entrepreneurs, reflecting different business sizes, income patterns and stages of growth.

"Across Africa, millions of women are already running successful businesses. The challenge is not entrepreneurship. It is access to finance, to digital tools and to opportunities for growth," said Erwan Gelebart, CEO of AXIAN Digibank and Fintech.

Training will help women use finance with confidence

A second component will provide financial literacy, digital skills and entrepreneurship training to 25,000 women in Madagascar, Tanzania, Senegal, Togo and Comoros. This support is expected to help participants understand borrowing, budgeting, digital payments, business planning and the steps involved in moving an informal enterprise into the formal economy.

Access to capital can only deliver lasting value when business owners have the confidence and knowledge to use it effectively. Training will help women assess financing options, protect themselves when using digital platforms, maintain clearer business records and make informed decisions about investment and expansion.

Melissa Basque-Roux, coordinator of the African Development Bank's AFAWA initiative, said women entrepreneurs are central to Africa's economic transformation but continue to face barriers that restrict their access to finance, technology and business support. She said the partnership would widen access to tailored digital financial services while opening new opportunities for women-led businesses.

Stronger businesses can create wider community benefits

The programme is built around five priorities: expanding digital finance, strengthening financial and digital literacy, creating products suited to women entrepreneurs, increasing mobile-based inclusion and helping women-owned enterprises enter and succeed within the formal economy.

Mixx and MVola will lead implementation with local operating companies in each participating country, combining regional experience with market knowledge that can help services reach entrepreneurs in cities, towns and underserved communities.

The partnership extends the African Development Bank's wider support for AXIAN Telecom. In January 2025, the Bank approved a $160 million senior corporate loan to expand connectivity and financial inclusion across nine African countries, including dedicated financing for 22,000 women entrepreneurs in Madagascar.

Giving women business owners greater access to capital and digital tools can produce benefits far beyond individual enterprises. Growing businesses purchase more supplies, create employment, strengthen household incomes and contribute to local economies, making women's financial inclusion an important part of Africa's expanding digital economy.