Browsing: African Guarantee Fund

The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) program agreed to partner with the African Guarantee Fund (AGF) to provide $1.3 to 2 billion in loans to women-owned Small and Medium-Sized Enterprises (SMEs) in Africa, by working with financial institutions to enhance their ability to lend to women.

This comes after the launch of AFAWA’s Guarantee for Growth (G4G) program whose objective is to make available up to $3 billion in financing for women entrepreneurs through de-risking and technical assistance measures. Financial institutions in  Kenya, Rwanda, Tanzania, Cameroon, Democratic Republic of Congo and Uganda are signing on to the program.

“As the implementing partner of AFAWA’s Guarantee for Growth program, we are already observing an increased appetite from banks for this innovative product that seeks to support women entrepreneurs. We have recently signed agreements with leading banks on the continent who are keen to increase their …