In a significant move to bolster women entrepreneurs across sub-Saharan Africa, the International Finance Corporation (IFC) has officially launched its She Wins Africa program. This groundbreaking initiative aims to provide crucial support to the growth of up to 5000 women-led startups by offering valuable advice, training, mentorship, and networking opportunities.
The She Wins Africa program is designed to bridge the gap for women entrepreneurs who often face challenges in accessing support and funding to propel their businesses forward. Through a combination of online and in-person workshops, along with various engagement activities, participants in the program will benefit from investment readiness training and the chance to forge connections with potential investors through matchmaking and pitching events.
At the core of this initiative is the recognition of the immense entrepreneurial spirit present among African women. Despite their entrepreneurial drive, many women encounter barriers that hinder their progress. She Wins Africa strives to address this imbalance by equipping women with the skills, tools, and opportunities needed to scale their businesses effectively.
Specifically the program will:
- Provide investment readiness training and business skills capacity building, which will help women-led startups improve their chances of accessing finance.
- Provide capacity building for funds and Venture Capital on gender-lens investing to help accelerate investments in women-led startups and enterprises including ten startup support organizations.
- Capacity building for accelerators and ESOs to support the incubation of early-stage startups and support the development of a strong pipeline of investible startups.
- Facilitate matchmaking and pitching events between female founders and investors to facilitate the flow of funds to women-owned businesses.
Mary Porter Peschka, IFC’s Regional Director for Eastern Africa, emphasizes the importance of the program: “African women are highly entrepreneurial yet often lack the support and funding they need to succeed. She Wins Africa aims to rectify this by equipping women with skills, tools, and opportunities to scale their businesses. IFC is excited to welcome innovative women entrepreneurs to the She Wins Africa program and help them grow their businesses and reach new heights.”
The program is open to women-led startups and entrepreneurs operating within sub-Saharan Africa. The application process is now underway, with interested women encouraged to visit the She Wins Africa program page or reach out to shewinsafrica@ifc.org for more information. The application window is set to close on September 15, 2023.
She Wins Africa will offer a comprehensive suite of support mechanisms for women-led startups, spanning various sectors. Among the program’s highlights is a competitive pitch event that will provide participants with a platform to showcase their innovations. Moreover, participants will have unique opportunities to engage with potential investors and venture capital firms, facilitating vital connections for business growth.
This initiative follows the success of IFC’s She Wins Arabia program, which has already made a positive impact on women entrepreneurs in the Middle East and North Africa by offering training and support to both entrepreneurs and the entities that engage with them, such as funds and accelerators.
Promoting women’s active participation in the private sector lies at the heart of IFC’s strategy in Africa. The organization aims to foster gender equality and provide equal access to jobs, assets, and opportunities. As a champion of dynamic and inclusive entrepreneurship on the African continent, IFC provides financial and advisory services to create a supportive ecosystem that empowers women entrepreneurs.
The She Wins Africa program stands as a testament to IFC’s commitment to advancing women’s economic empowerment and driving sustainable economic growth across the region. By equipping women-led startups with the necessary tools and connections, IFC is paving the way for a future where women entrepreneurs can thrive and contribute significantly to Africa’s economic landscape.
