Pak Women Entrepreneurs Raise $5.6M in We-Fi Success

Female-led startups in Pakistan raised more than $5.6 million through the World Bank Women Entrepreneurs Finance Initiative (We-Fi) program, as announced by the country’s Finance Minister Dr. Umar Saif during the program's closing ceremony.

The World Bank's We-Fi initiative is devoted to engaging with women-led small and medium-sized enterprises (WSMEs), business support groups, and investors. The major goal is to incorporate WSMEs into the entrepreneurial scene and narrow the gender gap in Pakistan's economy.

The initiative aims to increase the number of women entrepreneurs who obtain early-stage finance, leverage platforms for market access, raise awareness among WSMEs about available entrepreneurship assistance, and strengthen the ability of entrepreneurship service providers to serve WSMEs.

Expected benefits include increased investment preparedness among WSMEs, the elimination of gender prejudice among investors, and an increase in their willingness to offer capital to female-led firms as a result. This financial injection is meant to boost high-potential firms, stimulate growth, and create job possibilities for Pakistan's growing female labor market.

Finance Minister Umar Saif underlined the need of investing in female decision-makers and businesses, citing the evident benefits to a country like Pakistan. He went on to say, "Investing in female decision-makers and female entrepreneurs is an obvious thing to do, and you can't go wrong with this, especially in a country like Pakistan."