We-Fi Announces a New Round of Funding to African Women Entrepreneurs ($15M). Women Entrepreneurs Finance Initiative has announced a new round funding. African Development Bank’sAfrica Digital Financial Inclusion Facility, (ADFI), will receive $15 million in order to provide digital financial solutions to women-owned medium and small businesses in Cameroon. Nearly 69,000 women entrepreneurs will benefit from the fourth round financing, which is $54.8 million. These funds will allow the Africa Digital Financial Inclusion Facility (ADFIF) to develop and implement programs that improve digital access for women entrepreneurs. This will reduce the $42 billion financing gap and increase their operational efficiency. “We-Fi’s fourth round of allocations comes at a crucial time. Women’s economic empowerment is under pressure due to conflict and insecurity, rising prices and the continuous fallout from the Covid pandemic around the world,” said Bärbel Kofler, Parliamentary State Secretary of Germany’s Ministry for Economic Cooperation and Development. “I am pleased to see our Implementing Partners preparing such strong proposals to support women-led businesses. Access to technology and financing will be key to unlock the potential of women entrepreneurs.” “Digital financial solutions are key to improving the quality of life of people in Africa and to reducing the gender access-to-finance gap. This funding, which is complementary to the Affirmative Finance Action for Women in Africa Initiative (AFAWA), will be used not only to broaden access to finance for women small and medium businesses but also to provide an avenue for their increased economic empowerment and resilience,”Stefan Nalletamby was Director of Financial Sector Development at the African Development Bank Group. In this fourth round, three other multilateral development Banks were allocated: the Islamic Development Bank, Inter-American Development Bank Group and the World Bank Group.