798 Women-Led Ventures in Africa Receive $3.99 M to Boost Africa's Green Transformation

On December 18, 2024, IYBA WE4A partners made an announcement regarding the 798 women-led green businesses’ selection within eight African countries as part of IYBA WE4A Programme.

In addition, earlier in 2024, the second instalment of the “Invest in Young Businesses in Africa – Women Entrepreneurship for Africa” (IYBA WE4A) has been introduced by a collaboration between European Union (EU), Organisation of African, Caribbean and Pacific States (OACPS), German Federal Ministry for Economic Cooperation and Development (BMZ), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), and the Tony Elumelu Foundation (TEF)

The instalment was introduced with an intent towards building on the External Investment Plan of EU for assisting gender focused lending that also includes initiatives to support economic empowerment of females across EU Gender Action Plan (GAP III).

Tony Elumelu Foundation CEO Somachi Chris-Asoluka stated, “At the Tony Elumelu Foundation, we believe that empowered women are essential for economic transformation across Africa. This partnership allows us to take bold steps toward an inclusive, green economy, ensuring our young women entrepreneurs are the drivers of Africa’s sustainable transformation. The success of these women-led businesses will reverberate through their communities and across the continent, affirming that with the right support, Africa’s potential is limitless.”