BREAKING NEWS

    Boost For Women Entrepreneurs in Sudan as Africa Development Bank Approves $14.96m to Finance and Grow Businesses

    Posted On 25 Dec 2020
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    Comments: 24

    By Richard Adorsu-

    Photo Credit: Socialist Project

    NEW AFRICA BUSINESS NEWS (NABN) Accra, Ghana– The African Development Bank (AfDB) approved financing for $14.96 million project to help women in Sudan access finance and grow their businesses. The financing comes in the form of a grant.

    The Accelerating Women’s Entrepreneurship and Access to Finance (AWEAF) project will address capacity, financing, and knowledge gaps for Sudan’s women entrepreneurs. The project aims to help women to access quality business development services and financing as well as improving the quality of services provided by financial institutions serving women entrepreneurs in Sudan’s Khartoum and Red Sea states.

    “This approval shows that the African Development Bank stands with the government and people of Sudan to enable women to play more major roles in the development of their country,” said African Development Bank Country Manager for Sudan, Raubil Durowoju.

    Under the project, 570 micro, small and medium enterprises owned or led by women are expected to receive high quality technical and business development training and a finance pot of up to $11 million. The new financing is expected to lead to an average 10% growth in business revenue for the women business owners and the creation of 1,200 full-time equivalent jobs, especially for young women.

    The project also aims to strengthen the capacity of financial and microfinance institutions that serve women entrepreneurs by establishing ‘internal one-stop shops” for women-tailored operations and ensuring that the institutions provide gender-responsive financing geared to the needs of female entrepreneurs.

    The AWEAF project aligns with the Bank’s Jobs for Youth in Africa Strategy and its gender strategy, while contributing to economic growth in the two target states in Sudan. AWEAF also in line with political and socio-economic reforms being implemented by Sudan’s Transitional Government to diversify the national economy and achieve inclusive growth. This includes enhancing the rights of women and ensuring they are empowered economically, a development that is also expected to enhance the country’s peace and stability.

     

    For New Africa Business News Richard Adorsu Reports,  Africa Correspondent

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    About the Author
    New Africa Business News Staff Correspondent
    1. Azuel December 25, 2020 at 12:23 am Reply

      Thank you, Richard for the report and thank you to our African Development Bank. The Bank is investing lot of money to our Women, all over the Continent. Mopipi Botswana. Azuel

    2. Elna December 25, 2020 at 12:28 am Reply

      Merry Christmas Mr. Adorsu, your teams and New Africa business news, for great 2020. Prieska South Africa. Elna

    3. Lamine December 25, 2020 at 12:35 am Reply

      I like to thank you, all the reports during this year. You guys gave me hope and reading all these developments occurring in our great Continent. Other medias don’t report anything good from Mother AFRIKA. Luanda Angola. Lamine

    4. Ernesto December 25, 2020 at 12:38 am Reply

      Merry Christmas to all. Thank you. Bissau Guinea Bissau. Ernesto

    5. Focus December 25, 2020 at 12:41 am Reply

      Merry Merry Christmas. Love your online newspaper. Salima Malawi. Focus

    6. Noel December 25, 2020 at 12:46 am Reply

      Merry Christmas team. Am a fan of New Africa Business News. Please continue the beautiful job. Lusaka Zambia. Noel

    7. Hilal December 25, 2020 at 12:50 am Reply

      Merry Christmas to you all. Thank you. Accra Ghana. Hilal

    8. David December 25, 2020 at 12:52 am Reply

      Thank you for the newsletters and Merry Christmas. London UK. David

    9. Albert December 25, 2020 at 12:55 am Reply

      Love reading your daily reports. Thank you and Merry Christmas. Albert in Monrovia, Liberia.

    10. Paul December 25, 2020 at 12:58 am Reply

      Another great year. Merry Christmas to you. Nairobi Kenya. Paul

    11. Biko December 25, 2020 at 1:03 am Reply

      Merry Christmas. God Bless Afrika. Dodoma, Tanzania. Biko

    12. Kamal December 25, 2020 at 1:08 am Reply

      Thank you African Development Bank for approving and financing women projects in our Country. Khartoum Sudan. Kamal

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