In a powerful move to unlock the untapped potential of Africa’s women entrepreneurs, the International Finance Corporation (IFC), part of the World Bank Group, has unveiled the Women LEAD Alliance—an initiative designed to level the economic playing field for young women building businesses in high-impact sectors.
Across Africa, women are leading an entrepreneurial surge, owning nearly 40% of small and medium-sized enterprises (SMEs). But despite their numbers and determination, only 1% of venture capital on the continent is directed toward women-led ventures. It’s a staggering gap—and one the IFC hopes to close.
The Africa Leadership Economic Advancement and Development (LEAD) for Women Alliance aims to provide what many women entrepreneurs lack: access to capital, networks, mentorship, and modern digital tools. By focusing on industries such as digital technology, the creative economy, and social enterprise, the initiative plans to support businesses that not only create jobs but also solve community challenges.
Creating a Support Network That Works
Rather than being a traditional funding program, the Women LEAD Alliance brings together influential business leaders, investors, and social innovators to serve as both sponsors and mentors for the next generation of African women founders.
Founding members of the Alliance include:
- Mo Abudu, CEO of Ebony Life Group and trailblazer in Africa’s media and entertainment industry
- Jeremy Awori, CEO of Ecobank Transnational
- Phuthi Mahanyele-Dabengwa, CEO of Naspers South Africa
- Tope Lawani, Co-founder of Helios Investment Partners
- Esselina Macome, CEO of FSDMoç in Mozambique
- Thebe Magugu, award-winning fashion designer
- Ndidi Okonkwo Nwuneli, President of the ONE Campaign
- Fred Swaniker, founder of Sand Technologies and Africa Leadership University
This diverse group represents a fusion of sectors—from finance and fashion to technology and development—offering a multi-dimensional support base to women-led ventures.
The Alliance is expected to expand to include up to 12 members and will focus its agenda on bridging the most critical barriers: funding, market access, skills, and business capacity. The goal is not only to help women start businesses but to scale them into sustainable ventures that contribute to Africa’s broader economic growth.
A Timely Initiative for a Young Continent
The timing of the Women LEAD Alliance could not be more strategic. By 2025, Africa will be home to more than 530 million people aged 15 to 35. Half of them will be women, representing both a powerful labor force and a consumer base with evolving needs.
“Africa’s economic development depends on unlocking the full potential of its people—including the millions of women who are already building and leading businesses, often against the odds,” said Ethiopis Tafara, IFC’s Regional Vice President for Africa. “This initiative backs that potential with the resources and visibility it deserves.”
Driving Impact Through Inclusion
The Alliance also aligns with the World Bank Group’s goal of enabling 80 million more women and women-led businesses to access capital by 2030. The emphasis is clear: long-term economic growth in Africa must be inclusive, and empowering women entrepreneurs is essential to achieving that vision.
With the launch of the Women LEAD Alliance, IFC is helping to shape a future where women are not only participants in Africa’s economy—but central to its leadership and innovation.
