• Saturday, May 25, 2024
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ImpactHER secures AU’s backing to empower female-owned businesses

ImpactHER secures AU’s backing to empower female-owned businesses

ImpactHER, a non-profit organisation that empowers female-owned businesses, has signed a Memorandum of Understanding (MoU) with the African Union to drive gender equality and economically empower women in line with the AU’s 2063 Gender Goals.

The MoU focuses on implementing initiatives that empower women entrepreneurs across the continent. It aims to address key challenges faced by African women in business including access to finance, market and skill development to achieve gender-equal Africa.

Efe Ukala, founder of ImpactHER, said the NGO will work with the African Union to break barriers that hinder women entrepreneurs from reaching their full potential.

Ukala said the partnership will kick off with a series of joint programs aimed at providing African women entrepreneurs with the tools, resources, and support needed to thrive.

She said it will include training programs, access to finance workshops, and networking events designed to connect women entrepreneurs with potential investors and markets.

During the MOU signing ceremony, Albert Muchanga, commissioner for Trade and Industry at the African Union, said African women are key agents that will drive Africa’s next-level growth phase.

“To achieve our 2063 agenda goal, we must tap into the enormous resources that our women possess. The AU wants to make sure that they are carried along and to achieve this, we will be working with ImpactHER due to its verifiable track record of building successful African female business owners. We are certain that the story of the African women will change with the partnership,” he said.

ImpactHER focuses on bridging the $42 billion financing gap for women-owned small and medium-sized enterprises (SMEs) in Africa.

It has trained and supported over 130,000 African women entrepreneurs in 53 African countries. It helps African women business owners access institutional capital, scale their businesses, tackle operational challenges, access new markets through technology, and become investor-ready with the skills needed to succeed.