October 20, 2020

FFI set to close $42bn financial gap among African women

FFI set to close $42bn financial gap among African women

Two women pose holding pestles for pounding yam to form the logo of designer Nack on the runway during the Lagos Fashion Week on October 25, 2018. – Lagos Fashion Week aims to promote the Nigerian, African fashion industry and facilitate contact between entrepreneurs and consumers, including the media to view the current collections of designers participating at the event.

By Providence Emmanuel

Future Female Invest, FFI, has said that it is set to close $42 billion financing gap for African women even as it shops for about 1000 investible businesses for ready women in Nigeria by 2021.

FFI is an organization powering financial opportunity for African women with a mission to driving women economic empowerment solutions.

Speaking at a zoom meeting titled: “Ready to Thrive”, Chief Executive/Founder of FFI, Ms. Aysha Julie, said Africa has become the first continent of female entrepreneurship where 27 percent of women in Africa create businesses, the highest rate globally.

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She added that 90 percent of these women contribute positively to the economy, reinvesting up to 90 percent of their income in the education, health and nutrition of their family and community, compared to 40 percent for men.

Julie stated: “According to the AfDB there is a $42 billion financial gap for African women across value chain. We put power into the hands of African women. We ensure our voices are heard and we are given economic power.”

Also speaking, Advisor for FFI, Ms. Nourath Bhugeeloo, said small business enterprise do not attract business because they do not have the governance structure, saying it is essential for all business to have a we balanced structure. Investing in this at early stage will reap benefit.