Visa and AWIF initiative announce recipients of funding to empower African women entrepreneurs
Summary
Three women fund managers from Nigeria, Kenya and South Africa have been selected to receive Visas grant funding from the African Women Impact Fund Initiative (AWIF), a collaboration between Standard Bank and the United Nations Economic Commission for Africa (UNECA).SME.NG (Nigeria), Altree Capital (Kenya) and Maia Capital (South Africa) are the selected recipients and will utilise the grants for their warehousing capital needs to invest in women-owned entrepreneurs across a range of sectors.Last year Visa announced a grant to the AWIF as an extension of the Shes Next program, a global advocacy program for women-owned businesses that have been expanded to Sub-Saharan Africa to further champion and strengthen African women business owners as they build, sustain, and advance their businessesWe are proud to extend our efforts to empower women entrepreneurs to the fund management space. Research shows slow-moving progress in the visibility and inclusion of women fund managers due to systematic barriers and investor bias. At Maia Capital, we are very intentional about ensuring that our investments positively and directly impact the low-to-middle income households in South Africa and generate a return for investors. As an indigenous gender lens impact investor, SME.NG is committed to providing non-financial support that addresses the challenges women-owned businesses face, alongside financial capital. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive.