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AfDB pushes gender agenda as women entrepreneurs face $42 bln funding gap

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The African Development Bank (AfDB) used the 70th session of the United Nations (UN) Commission on the Status of Women (CSW70) in New York to strengthen partnerships and advance initiatives aimed at closing the estimated $42 billion financing gap facing women entrepreneurs across Africa.

 

The gathering came at a time of growing debate over women’s rights and gender equality, with member states voting on a declaration affirming women’s access to justice after consensus could not be reached.

 

AfDB Director for Gender, Women and Civil Society Dr Jemimah Njuki said investment in women remains critical to Africa’s economic growth and resilience. “Investing in women is not just the right thing to do, it is the smart thing to do for Africa’s growth and resilience,” Njuki said.

 

The Bank’s engagements in New York focused on expanding access to finance, strengthening economic opportunities for women and advancing priorities outlined in AfDB’s Ten-Year Strategy.

 

A key event during the week was the Bank’s engagement with the African Women Leaders Network at the African Union Permanent Observer Mission to the United Nations.

 

The discussions centred on AfDB’s proposed Gender Action Plan 2027-2031, which aims to move beyond project-based interventions and address systemic barriers affecting women across labour markets, infrastructure and economic policy. “The future of gender equality lies in moving from fragmented efforts to coordinated solutions that unlock opportunities at scale,” Njuki said.

 

The Bank said the action plan is being developed through consultations with African women leaders and other stakeholders to ensure it reflects the priorities of the communities it seeks to support.

 

AfDB also strengthened cooperation with UN Women, focusing on collaboration in capital mobilisation, infrastructure development and support for countries affected by conflict.

 

The discussions included ways to improve funding access for women’s organisations operating in fragile and conflict-affected environments, where conventional financial systems often fail to reach grassroots groups.

 

AfDB highlighted its Crisis Response for Women and Affected Communities in Sudan Project, which has reached more than 95 000 women through cash assistance, livelihood support and access to essential services.

 

The Bank’s flagship Affirmative Finance Action for Women in Africa (AFAWA) initiative featured prominently throughout the conference.

 

AFAWA was established to help address Africa’s $42 billion financing gap for women-owned businesses by combining access to capital with policy reform, mentorship and business development support.

 

According to AfDB, AFAWA is on track to unlock up to $5 billion in financing for women entrepreneurs.

 

To date, the initiative has partnered with more than 200 financial institutions and facilitated more than $3.1 billion in financing for women-led businesses across the continent.

 

AfDB said the programme demonstrates how targeted financial interventions can help increase women’s participation in the economy while contributing to broader development goals, including job creation, economic inclusion and climate resilience.

 

–AfDB/ChannelAfrica–