This archive report was first published on 14 July 2019.
On July 14, 2019, a significant development in the world of women-led entrepreneurship took place, with the launch of the Invest2Impact competition.
The competition, spearheaded by the Graca Machel Trust, aims to provide 100 women-owned businesses in East Africa with the opportunity to secure additional capital for expanding their operations.
FinDevCanada, the Commonwealth Development Corporation Group of the UK, Proparco of France, the Overseas Private Investment Corporation of the US, and the MasterCard Corporation are among the leading development finance institutions that will fund the eventual winners.
While the competition is not open to startups, but rather established businesses, the funding idea is one that can be adopted by local organisations and replicated at the grassroots to spur the growth of women-led enterprises.
Financing is a vital cog in the wheel of economic growth, and any partnerships targeted towards that goal are most welcome.
