In African cultures, women play a nurturing role, they are the backbone of the continent. Yet, they face a $42 billion-dollar financing gap with over 3/4 of them being financially excluded. The AFAWA initiative is a direct response to the challenges faced by women in Africa, and the need to unlock access to finance.
The CEO of Nigeria's Bank of Industry Olukayode Pitan says the idea of the Affirmative Finance Action for Women in Africa is to make lenders do more for women. CNBC Africa's Kenneth Igbomor caught up with him on the sidelines of the Global Gender Summit after they signed a letter of intent on the AFAWA risk-sharing facility.
French President, Emmanuel Macron and G7 leaders approved a $251 million package in support of African Development Bank's (AfDB) Affirmative Finance Action for Women in Africa (AFAWA) initiative earlier in August. CNBC Africa's Kenneth Igbomor spoke to Phillipe Lacoste, Director for Sustainable Development at the French Ministry of Europe and Foreign Affairs to discuss the importance of this initiative for Africa.
The government of Rwanda through its minister of finance yesterday committed herself to contribution of $1 million to the Affirmative Finance Action for Women in Africa (AFAWA) Risk-Sharing Facility on the sidelines of the ongoing Global Gender Summit. CNBC africa's Arnold Kwizera spoke to Minister of Finance and Economic Planning, Uzziel Ndagijiminana for more.
For too long, agriculture took the back-seat in the development process. While around 60 to 70 per cent of Africans work in agriculture, countries import large amounts of agricultural products and processed goods. CNBC Africa’s Kenneth Igbomor spoke to Jennifer Blanke, Vice President Agriculture, Human and Social Development, African Development Bank about the importance of developing the agriculture and agro-processing sectors in Africa. They also discuss the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative.