ImpactHER Collaborates with UN Women and AfDB to Promote Women Businesses In Africa
According to World Bank, African countries are likely to be hit particularly hard by the COVID-19 pandemic as the limits of societies and economies across the world are being tested. ImpactHER conducted a survey on sub-Saharan African small and medium sized female-owned business owners to understand the impact of COVID-19 on their businesses and help galvanize resources for them to help cope with the impact of COVID-19. Over 1,300 female entrepreneurs responded from 30 African countries. These deductions from the survey makes it apparent that existing $42B financing gap that exists for African female entrepreneurs as estimated by the African Development Bank is likely to worsen, as a result of COVID-19.
In response to these findings, ImpactHER co-authored a policy brief with the United Nations Women (UN Women) and African Development Bank's Affirmative Finance Action for Women in Africa (AFAWA) on transformative policy solutions to support women-led businesses in Africa. This is as a result of ImpactHER's commitment to helping African women-led businesses thrive post-COVID. Policy brief document is seen below: