The European Union and Germany have launched the Women Entrepreneurship for Africa (WE4A) project to support female entrepreneurship, operating within the framework of green transformation in Senegal.
The project is part of a regional initiative, “Investing in Young Businesses in Africa,” funded by the European Union with the goal of fostering economic empowerment and financial inclusion for female entrepreneurs in sectors that contribute to green transformation.
Selected female-owned businesses can receive support of $5,000, with the project running from 2024 to 2027. WE4A – whose pilot phase was carried out in 2021 – has implemented similar initiatives in seven other African countries (Kenya, Mozambique, Tanzania, Uganda, Malawi, Cameroon and Togo) and aims to support over 500 women.
“The idea is to empower female entrepreneurs who want to simultaneously help the environment through green projects. Women entrepreneurs can participate in this project, funded to the tune of €40 million,” said Severin Peters, Director of the SME Financing Access Project at the German Corporation for International Cooperation.