ImpactHER is collaborating with African Union (AU) to bridge the $42 billion financing gap for African women-owned small and medium-sized enterprises (SMEs). 

ImpactHER founder, Efe Ukala, who disclosed this, said that the organisation is Africa’s foremost not-for-profit organisation with a mandate for empowering African female entrepreneurs. 

She noted that IMPACTHER, has directly trained and supported over 130,000 African women entrepreneurs on a pro bono basis in 53 African countries. 

Ukala explained that the organisation was helping African women business owners to access institutional capital, scale their businesses, tackle operational challenges, access new markets through technology and become investor-ready providing them with the digital skills they need to succeed.

According to her, it has signed a Memorandum of Understanding (MoU) with AU for gender equality and women’s economic empowerment in realisation of the union’s 2063 Gender Goals, noting that MoU outlines a collaborative framework between ImpactHER and the African Union, focusing on strategic initiatives to empower women entrepreneurs across the continent.

Ukala said: “This partnership aims to address key challenges faced by African women in business, including access to finance, market linkages and skill development, aligning with the aspirations of Agenda 2063 for a prosperous and gender-equal Africa. This is more than a collaboration; it’s a commitment to the women of Africa.

“Together with the African Union, we are poised to make significant strides in breaking down barriers that have long hindered women entrepreneurs from reaching their full potential.

“The partnership will kickoff with a series of joint programs and initiatives aimed at providing African women entrepreneurs with the tools, resources, and support they need to thrive. These initiatives will include targeted training programs, access to finance workshops, and networking events designed to connect women entrepreneurs with potential investors and markets.”