ECA launches African Women Leadership Fund in Morocco
The Economic Commission for Africa has launched the African Women Leadership Fund in Morocco on the sidelines of the African Regional Forum for Sustainable Development.
In order to strengthen women's economic empowerment and facilitate the emergence of women fund managers, the fund aims to facilitate the access of African women entrepreneurs and cooperatives to sustainable capital, lower barriers to entry for women asset managers focused on investing in women-owned and women-led businesses.
The fund will also provide technical assistance to accelerate the training and growth of female asset managers.
The Fund was created following a call by the African Women Leadership Network, and has been established by the Economic Commission for Africa under the leadership of the Deputy Secretary-General of the United Nations and the Chairperson of the African Union, with the support from UN-Women, the Office of the Special Envoy for Women, Peace and Security of the African Union Commission and the African Women Leadership Network.
Over the next decade, the Fund aims to invest up to $ 500 million in businesses run by African women.
The Morocco launch aims to introduce it to Moroccan women, who, like their African counterparts, face daunting financial challenges which impede the sustainability of their businesses, but also to businesses and other players in the national financial ecosystem.