French President Emmanuel Macron and the African Development Bank have launched a $300 million initiative to boost businesses owned by African women.<\/p>\n
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French President Emmanuel Macron and the African Development Bank have launched a $300 million initiative to boost businesses owned by African women.<\/p>\n
The initiative was announced at the G-7 summit in Biarritz, France, and is aimed at increasing credit access to African businesswomen across the continent over a five-year period.<\/p>\n
Popular Benin singer Angelique Kidjo, a UNICEF goodwill ambassador who has been promoting the African Development Bank’s initiative, has been instrumental in working with Macron to coordinate the project.<\/p>\n
<\/p>\n
Kidjo told VOA that she has been talking with Macron about the initiative for the last two years, saying the project is crucial because many women “have given up [on] investing” because they have no collateral and banks do not take them seriously.<\/p>\n
“In order for us to reduce poverty \u2014 to put our children to school and to build a future for the youth of Africa, for them not to be dying in the Mediterranean \u2014 we need the women of the market to get access to credit,” she said.<\/p>\n
The African Development Bank says that 77% of African women do not have access to the financial sector. It says the loss to the economy due to gender inequality in sub-Saharan Africa is estimated to be $2.5 trillion.<\/p>\n
“Women have to be treated seriously. That’s what I want. I want to see the transformation of those women that have wonderful ideas,” Kidjo said.<\/p>\n
Peter Clottey contributed to this report.<\/em><\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
French President Emmanuel Macron and the African Development Bank have launched a $300 million initiative to boost businesses owned by African women. The initiative was announced at the G-7 summit in Biarritz, France, and is aimed at increasing credit access to African businesswomen across the continent over a five-year period. Popular Benin singer Angelique Kidjo, […]<\/p>\n","protected":false},"author":1,"featured_media":683802,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3702],"tags":[],"class_list":["post-692644","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us"],"yoast_head":"\n
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