This archive report was first published on 11 July 2019.
On July 11, 2019, Graca Machel, a Mozambican politician and humanitarian, launched the Invest2Impact initiative in Kenya to empower women entrepreneurs in East Africa.
The competition aims to provide access to funding for women-led initiatives in the region, contributing to the community of women business owners and leaders.
According to Machel, the initiative will stand out by pinpointing women-owned businesses at the growth stage, poised for investment capital.
“Empower a Woman and a whole Community will thrive; empowering women benefits everyone and is essential for communities to thrive. Research shows that increasing women’s involvement leads to improved financial management and more sustainable, thriving communities,” Machel said.
The project has been initiated by development finance institutions including FinDevCanada, Commonwealth Development Corporation Group (CDC) of the United Kingdom, Proparco of France, and the Overseas Private Investment Corporation (OPIC) of the United States, along with the Mastercard Foundation.
The competition will focus on East Africa, specifically Ethiopia, Kenya, Rwanda, Tanzania, and Uganda, where 100 women participants will be chosen to pursue the competition.
The competition is expected to bring value to women business owners through four tracks: 2Xcelerate, 2Xcapital, 2Xcrowd, and 2Xcatalyze.
