Tech

IFC to support 100 women-led startups through She Wins Africa

Published

9 months ago

February 28, 2024

The International Financial Corporation (IFC) has selected 100 women-led startup owners to support through the She Wins Africa program, an initiative led by the IFC aimed at accelerating access to capital for female-led startups across Africa.

The selected women, according to the IFC, a member of the World Bank group, will “participate in comprehensive interventions that will strengthen their companies’ investment readiness, including advice and mentorship, and provide access to potential investors, industry leaders, and peers through matchmaking and pitching opportunities across Africa.”

“The initiative is a part of IFC’s broader commitment to promote gender equality and empower women entrepreneurs in emerging markets,” Nathalie Akon Gabala, Director of Gender and Economic Inclusion at IFC, said in a statement.

She added that the 100 participants announced on Wednesday were drawn from almost 3,000 applicants comprised of women entrepreneurs across Africa in sectors ranging from ag-tech, climate-tech, e-commerce, ed-tech, health-tech and fintech etc.

“Sub-Saharan Africa has the highest rate of female entrepreneurs globally, with approximately 26% of female adults involved in entrepreneurial activity. However according to a 2021 World Bank report, women founders in Africa receive only about three percent of start-up finance,” she noted.

“In addition to the investment-readiness program for the 100 selected participants, She Wins Africa will roll out other initiatives, including a bootcamp to help lead 200 pre-seed women-led startups into acceleration phase

“An initiative to open up acceleration support for an additional 200 women-led startups in areas where such support is not easily available; and
a program to create a coalition of funds, venture capital firms and gender-lens investors to improve access to finance for women and their businesses across Africa.

“IFC’s She Wins Africa empowers women entrepreneurs through coaching, training, and financing, accelerating their growth and investment readiness throughout sub-Saharan Africa.

“It’s time for investors to step up and fund women. A strong entrepreneurship ecosystem benefits us all,” she said.

Related Topics:Featured IFC.She Wins Africa Startups Support

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Tech

Ghana partners with The Gambia to provide free roaming services

Published

2 days ago

November 21, 2024

Isaac Dachen

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

3 days ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.