AFRICAN GUARANTEE FUNDAFRICAN GUARANTEE FUND

African women face many barriers in establishing and growing businesses principally access to finance. More than 70% of women cannot access finance with an estimated USD 42 billion access to finance gap between men and women. Supporting women entrepreneurs and catalyzing private investment in women owned led SMEs is crucial to driving inclusive economic growth on the continent. To help address the financing gap faced by women owned led small and medium enterprises (SMEs) across Africa the AfDB created the Affirmative Finance Action for Women in Africa (AFAWA) a pan African initiative with the primary objective of bridging the finance gap for women owned led businesses in Africa. AfDB selected AGF as the first implementing organization under AFAWA based on its demonstrated operational capacity and extensive network of over 140 African financial institutions in more than 40 African countries to create a risk sharing facility to incent greater lending to women owned led SMEs.The Canadian contribution aims to support a dedicated AFAWA window within AGF focused on providing credit guarantees of up to 75% to eligible financial institutions mainly banks and other non banking financial institutions lending to women owned led SMEs. AGF products are designed to de risk lending to African SMEs and increase available local currency financing on the continent. African women face many barriers in establishing and growing businesses principally access to finance. More than 70% of women cannot access finance with an estimated USD 42 billion access to finance gap between men and women. Supporting women entrepreneurs and catalyzing private investment in women owned led SMEs is crucial to driving inclusive economic growth on the continent. To help address the financing gap faced by women owned led small and medium enterprises (SMEs) across Africa the AfDB created the Affirmative Finance Action for Women in Africa (AFAWA) a pan African initiative with the primary objective of bridging the finance gap for women owned led businesses in Africa. AfDB selected AGF as the first implementing organization under AFAWA based on its demonstrated operational capacity and extensive network of over 140 African financial institutions in more than 40 African countries to create a risk sharing facility to incent greater lending to women owned led SMEs.The Canadian contribution aims to support a dedicated AFAWA window within AGF focused on providing credit guarantees of up to 75% to eligible financial institutions mainly banks and other non banking financial institutions lending to women owned led SMEs. AGF products are designed to de risk lending to African SMEs and increase available local currency financing on the continent.The initiative will contribute to the following expected results (1) Increased financial productivity and growth of women owned led SMEs in Africa (2) Increased access to and control over financial resources and services by women owned led SMEs a