Africa’s Female Fund Managers To Receive Major Boost Through Launch Of A Multi-Million Dollar Fund

African
leaders are putting women front and center of efforts to drive the continent’s
economic growth through a game-changing fund that invests in women fund
managers and also provides technical assistance.

The
launch of the African Women Leadership Fund (AWLF) will provide capital to both
first time and experienced fund managers in support of UN Sustainable
Development Goals 5 (Gender Equality) and 8 (Decent Work and Economic Growth),
and African Union Agenda 2063.

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The ground-breaking partnership, formally
signed at the weekend in Addis Ababa between the United Nations Economic
Commission of Africa (ECA) and Standard Bank Group, will be transformational in
breaking down structural barriers to inclusive investing in Africa.

Over $20
million was raised for the fund on Saturday that has a current goal of $100 million.
President Paul Kagame of Rwanda was instrumental in leading the way, pledging $500,000.
Senegal’s President Macky Sall committed $500,000. South African President Cyril
Ramaphosa also pledged to contribute to the fund. The private sector participants
pledged the rest.

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Prime
Minister Justin Trudeau of Canada pledged $10 million to the African Union to
boost gender parity. Norway Prime Minister Erna Solberg pledged $8 million to
AU initiatives. A portion of these resources will be earmarked for the women’s
initiative.

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Among
the world leaders who witnessed the official launch of this innovative impact
investment fund were UN …read more

Source:: MediaCraft

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