In 2023, much was achieved in terms of catalyzing positive change and promoting gender equality globally. These funding initiatives by global organizations played a catalyst in empowering women by giving financial assistance and tools to help them build businesses and gain opportunities.

The year 2023 has almost come to an end and we all are about to enter 2024. But 2023 has been a great year for women across the globe. Against the backdrop of the worldwide effort for gender equality in 2023, projects highlighted this year demonstrate a dedication to increasing women's empowerment. These diversified endeavors cross boundaries and industries, focused on closing gender disparities, boosting healthcare, and propelling women's technological growth.

These projects' strategic collaborations and significant contributions act as catalysts for transforming financial environments and generating possibilities for women-led businesses. 2023 unfolds in the dynamic terrain of women's empowerment, with Global Woman Leader highlighting five key initiatives. Strategic collaborations and hefty promises emerge as strong tools in transforming financial landscapes for disadvantaged firms as the globe realizes the vital role of women.

Join us as we explore into these funding initiatives, ranging from assisting women-led enterprises in Africa to tackling historical underfunding in women's health, all of which represent a worldwide shift toward gender equality and empowerment.

Coca-Cola Foundation & Kiva’s "Change Make Her" Initiative to Invest $4.5 Million by 2028

The Coca-Cola Foundation and Kiva have announced a five-year partnership to revolutionize global access to financing for disadvantaged enterprises. The dynamic revolving loan fund, which operated through Kiva's microfinance network, targeted varied sectors across continents. President Saadia Madsbjerg emphasized the fund's innovative architecture, which allows for a continual cycle of help.

The effort intended for long-term growth, with a $1.1 million gift in 2023 estimated to have a $4.5 million effect by 2028. Vishal Ghotge, CEO of Kiva, expressed excitement about the collaboration's possibilities, harnessing the combined power of linked organizational linkages. The collaboration showed The Coca-Cola Foundation's commitment to global economic growth, expanding on efforts such as the 5by20 project, which had active participation from Coca-Cola employees.

AFAWA Initiative Secures $1.2B for Women-Led SMEs in Africa

The Affirmative Finance Action for Women in Africa (AFAWA) Initiative reached a watershed moment in 2023 when it secured over $1.2 billion in finance pledges for women-led small and medium-sized firms in 32 African nations. This statement was made in Nigeria during the 5th Edition of the AFAWA Finance Series.

AFAWA has been instrumental in closing the gender funding gap and economically empowering women since its start two years ago. The project intends to provide $5 billion in finance for African women-led enterprises by 2026. The African Development Bank (AfDB) is actively supporting AFAWA's objective and promoting financial inclusion to unlock the full potential of women-led companies in the area via joint initiatives.

Freya Biosciences Raises $38 M to Advance Women's Reproductive Immunotherapies

Freya Biosciences, a biotech business in women's health, received a significant $38 million in Series A funding in 2023. This financing, sponsored by Sofinnova Partners and OMX Ventures, was a critical step forward in the advancement of reproductive immunotherapies for women.

Freya's CEO, Colleen Acosta, expressed gratitude for the sponsorship, noting the past underfunding of women's health concerns. The funding will go toward creating a lead medication candidate for infertility and expanding their innovative immunotherapy technology targeting the vaginal microbiome. Investors such as Sofinnova Partners and OMX Ventures are excited about Freya's potential to address reproductive health disorders that now lack viable therapies.

‘Google for Startups Women Founders Fund’ to Grant $100,000 to Six Companies

Google announced the "Google for Startups Women Founders Fund" in 2023 to help female-founded firms in Asia-Pacific. The program, led by Mike Kim, granted $100,000 in equity-free investment to six companies, with an emphasis on the developing field of artificial intelligence. The fund aims to not only provide financial assistance but also to empower female entrepreneurs internationally. Google's dedication to diversity was highlighted by its support of female-led AI startups in Asia, which helped to strengthen local startup ecosystems and boost diversity in the IT sector.

BGV Launches Euro 50M Fund Through Tech For Good Programme

Bethnal Green Ventures (BGV), a venture capital business located in London, completed its largest fund at £33 million, with a total of £50 million designated for its Tech For Good Programme. The project, directed by CEO Paul Miller OBE, committed to supporting up to 100 entrepreneurs over a four-year period, with an emphasis on diversity by investing at least half of its resources in female-founded businesses.

The British Business Bank and M&G Capital were among the notable participants. BGV, which has been a B Corp since 2015, previously raised £6 million in smaller rounds. The Spring 2024 Programme, which was open for submissions until January 7, 2024, sought to foster major and diverse technology developments, with transactions set to close by May 2024.

Kuramo Capital Invests $150M in African Women-Led Businesses

Kuramo Capital, led by CEO Wale Adeosun, committed $150 million (Ksh 22 billion) over a decade to help African women-driven businesses in 2023. The Moremi Platform administered the effort, which featured an accelerator program and a fund that recruited 40 female entrepreneurs.

Sarah Ngamau, Managing Director of Moremi Fund, set out to solve women's underrepresentation in African investing. The program addressed gender disparity in Sub-Saharan Africa, where women entrepreneurs make up 58% of self-employed people. Kuramo Capital, which has spent more than $3.5 billion (Ksh 73.8 billion) since 2011, sought to support long-term corporate growth.