Fri. Feb 21st, 2020

iAfrica

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Africa’s Female Fund Managers to Receive Major Boost

African leaders are putting women front and center of efforts to drive the continent’s economic growth through a game-changing fund that invests in women fund managers and also provides technical assistance. The launch of the African Women Leadership Fund (AWLF) will provide capital to both first time and experienced fund managers in support of UN Sustainable Development Goals 5 (Gender Equality) and 8 (Decent Work and Economic Growth), and African Union Agenda 2063. The ground-breaking partnership, formally signed at the weekend in Addis Ababa between the United Nations Economic Commission of Africa (ECA) and Standard Bank Group, will be transformational in breaking down structural barriers to inclusive investing in Africa. Over $20 million was raised for the fund on Saturday that has a current goal of $100 million. President Paul Kagame of Rwanda was instrumental in leading the way, pledging $500,000. Senegal’s President Macky Sall committed $500,000. South African President Cyril Ramaphosa also pledged to contribute to the fund. The private sector participants pledged the rest.

SOURCE: AFRICA.COM