AfDB AFAWA Affirmative Finance Action for Women in Africa

The Affirmative Finance Action for Women in Africa (AFAWA) is the AfDB flagship initiative to close the gender finance gap. The recent ZAR 1.5 billion (USD 88 million) credit line to the Development Bank of Namibia is one example, with ZAR 400 million ring-fenced specifically for 100% women-owned businesses. Individual loans range from NAD 150,000 to NAD 10 million at prime rate with a 12-month grace period. AFAWA has unlocked approximately USD 1 billion in financing to over 14,000 women-owned businesses across Africa via partnerships with the African Guarantee Fund and dozens of partner banks.