American enterprise agency, US African Development Foundation (USADF) will provide up to Sh1 billion in seed funding to Kenyan business women to grow their ventures.
The initiative, under the Academy for Women Entrepreneurs (AWE), is in support of White House-led Women’s Global Development and Prosperity Initiative (W-GDP).
AWE was created in 2019 and launched in 26 countries around the world to support W-GDP, which aims to economically empower 50 million women in the developing world by 2025.
USADF is partnering with US Department of State Bureau of Educational and Cultural Affairs (ECA) to provide access to capital, markets, technical assistance, and mentorship.
Ivanka Trump, President Donald Trump’s advisor, said W-GDP is the first ever “whole-of-government approach” to women’s economic empowerment, developed “intentionally” to inspire collaboration on best programs and partnership.
“I am proud to see the State Department and US Africa Development Foundation partner together to expand the Academy for Women Entrepreneurs (AWE) in support of W-GDP,” Ms Ivanka said “W-GDP is focused on scaling programs that will have maximum impact for women and communities around the world.”
Through an inclusive learning community and mentoring opportunities, women from around the world will explore “the fundamentals of business”, including creating business plans and raising capital, with the goal of building a better future for their families and communities across Africa and around the world.
In 2020, to help achieve W-GDP’s goals, ECA announced that AWE was expanding globally, doubling the number of countries to reach more women.
Other African countries that will benefit include Ghana, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, Zambia, and Zimbabwe. In 2019, women social entrepreneurs and women-led enterprises constituted approximately 66 percent of USADF’s total investees.
AWE supports Pillar 2 of W-GDP by providing women with the knowledge, skills, and networks needed to create sustainable businesses and enterprises.
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