ADB & AGF announce AFAWA Finance Series Togo conference

African Development Bank (ADB) alongside African Guarantee Fund (AGF) has announced a key note event entitled ‘AFAWA Finance Series Togo conference’ in order to promote a better understanding of Togolese women entrepreneurs’ financing needs in addition to deflating the myth that women-run companies are risky ventures.

The 3-day conference concluded on March 28, 2024 while bringing 180 leading figures together who are responsible for women’s financial inclusion favoured policy and regulation and representatives of financial institutions, women owned small and medium-sized enterprises and business incubators.

ADB’s Country Manager for Togo, Wilfried Abiola exclaimed, “The AFAWA initiative is not just a financial instrument; it aims to change the narrative and general perceptions, to transform the notion that small and medium-sized enterprises run by women are risky businesses. AFAWA is working to turn these businesses into substantial investment opportunities for institutions, in particular through the Guarantee for Growth programme, which was designed by the Bank.”

The conference is a part of a set of events which was organised in Africa to promote financial access for women-owned and run businesses. This conference is a crucial step towards accomplishing a goal of funding businesses that are owned by women to the tune of $5 billion by the year 2026.

AGF CEO, Jules Ngankam said in a comment, “AFAWA also aims to bring together financial and public sector actors to boost human and financial capital so that women can attain their full potential and participate completely in the growth of our continent. We are extremely optimistic that the impact will be significant in the long term and will stimulate economic growth in Togo.”