AfDB to Incentivise Countries Boosting Women in Business

The African Development Bank will soon start tracking how much loan is given to women across the continent through its new initiative, the Women Financing Index. The index is to take note of African countries that accord women a priority in loan disbursement. Nations that perform well according to data obtained would benefit more from financing from AfDB. The bank’s chief further explained that institutions will be rated by their development impact which is based on the rate and volume at which they lend to women. “Top institutions will be rewarded with preferential financing terms from the African Development Bank,” he added. Over the past decade, the number of women entrepreneurs in Africa has grown substantially. AfDB’s Africa Gender Equality Index shows that female entrepreneurship on the continent is the highest in the world and they make a sizeable contribution to Africa’s economy. Across steel manufacturing companies in South Africa, Ethiopia’s textile and clothing designing, high-tech development in East Africa and agribusinesses in West Africa, female entrepreneurs are taking their place in the business landscape.

SOURCE: VENTURES AFRICA

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