Expanding Financial Horizons for African Women Entrepreneurs
The African Development Bank (AfDB) and AXIAN Group have launched a comprehensive financial inclusion program targeting over 34,000 women-led businesses across five countries. This initiative addresses one of the most significant challenges facing female entrepreneurs in Africa: limited access to finance.
Africa boasts the highest rate of female entrepreneurship globally, yet an estimated $49 billion financing gap persists. The program leverages AXIAN’s digital financial service platforms, Mixx and Mvola, offering integrated solutions that include digital lending, financial literacy training, business development services, and digital inclusion initiatives.
The initiative comprises two key components:
- Tailored digital financial products for 34,000 micro, small, and medium-sized enterprises in Madagascar, Tanzania, and Senegal
- Financial literacy, digital skills, and entrepreneurship training for 25,000 women across five countries
The program utilizes mobile money services, digital lending solutions, and alternative credit assessment methods to reach entrepreneurs often underserved by traditional financial institutions.
Unlocking Economic Potential
“Across Africa, millions of women are already running successful businesses. The challenge isn’t entrepreneurship itself, but rather access to finance, digital tools, and growth opportunities,” stated Erwan Gelebart, CEO of AXIAN Digibank and Fintech.
This sentiment aligns with the African Development Bank’s commitment to addressing systemic barriers faced by women entrepreneurs, who represent a significant untapped economic opportunity on the continent. By expanding access to financial resources and tailored support, this partnership seeks to enable women-owned businesses to create jobs, drive innovation, and contribute more fully to their local economies.
The program prioritizes:
- Expanding digital finance access for women-led businesses
- Strengthening financial and digital literacy
- Developing customized financial products
- Accelerating digital inclusion through mobile technology
- Supporting transitions to the formal economy
With implementation led by Mixx & MVola in collaboration with local partners, this initiative promises a scalable approach to empowering women entrepreneurs across Africa’s diverse markets.