Visa Foundation backs «AGF» to scale the «AFAWA Guarantee» for Growth Program

Cairo, 16 sep 2025:

African Guarantee Fund (AGF) and Visa Foundation have signed a USD 2 million grant agreement to bridge the financing gap for women-led and owned small and medium-sized enterprises (WSMEs) across Africa. Moreover, this partnership will help scale the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative through its Guarantee for Growth program.

Scaling Women Entrepreneurs with Visa Foundation

The AFAWA initiative eliminates barriers that women entrepreneurs face in accessing capital. Currently, women represent 58% of Africa’s self-employed population and contribute nearly 20% of the continent’s GDP. However, they face an estimated USD 49 billion funding gap. In addition, investing in women entrepreneurs can unlock up to USD 15 trillion into the African economy.

Driving Economic and Social Transformation

AGF Group CEO Jules Ngankam said:

“By focusing on women entrepreneurs, we drive financial inclusion and catalyze broader economic and social transformation, as women consistently reinvest in their families and communities.”

Furthermore, the grant dedicated to AFAWA will build capacity for women entrepreneurs. Additionally, technical assistance from AGF’s Capacity Development program will expand lending, support job creation, and strengthen business resilience across Africa.

Expanding Lending Opportunities through Visa Foundation

Through loan guarantees and technical assistance, AGF’s Partner Financial Institutions (PFIs) can increase lending to women entrepreneurs. Consequently, this support helps close the gender financing gap, unlock private capital, and build capacity among both PFIs and WSMEs. Moreover, the Visa Foundation’s contribution allows AFAWA to scale solutions and expand opportunities for sustainable growth.

Strategic Partnership for Women Entrepreneurs

Graham Macmillan, President of Visa Foundation, said:

“AGF is a proven leader dedicated to empowering women entrepreneurs. We are thrilled to partner with them to scale their AFAWA initiative. Similarly, their commitment to financial inclusion resonates with Visa Foundation’s mission to help entrepreneurs thrive globally.”

AFAWA Impact Across Africa

Since inception, the AFAWA initiative has unlocked nearly USD 1 billion in loans for more than 14,000 women-led or owned businesses across Africa. Therefore, this achievement provides access to financial resources and opportunities, helping women entrepreneurs drive economic growth and prosperity across the continent.

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