Visa, a multi-billion payment company, has announced a grant to provide working capital for women fund managers in South, East and West Africa. Visa on this project is collaborating with Standard Bank, the United Nations Economic Commission for Africa (UNECA) and African Women’s Impact Fund (AWIF) to increase the funding available to these African women.
Visa’s donation to AWIF is an extension of a global program “She’s Next” which aims at supporting women-owned businesses. And the beneficiaries of these grants would target 55 women who responded to AWIF’s call to action and have been part of their programme since 2020.
What you should know
Statistics show that African women represent 6% of private equity, while women-led enterprises in emerging markets receive just 7% of private equity (PE) and venture capital (VC).
Again, women and people of colour only manage 1.3% of the $69.1 trillion cap of the global financial assets.