87% of women entrepreneurs’ associations in Africa lack financial skills — AfDB report

The African Development Bank (AfDB) has released a pioneering study mapping women entrepreneurs’ associations across 16 African countries, uncovering significant gaps that threaten to limit their contribution to economic growth.

The report, launched on 6 August in Nouakchott, shows that although nearly one in four African women runs a business, 87 per cent of women’s associations lack financial management skills. Only 29 per cent have formal links with financial institutions, and in Mauritania, 83 per cent depend almost entirely on membership fees.

AfDB officials say the findings highlight an urgent need for sustainable financing models and stronger institutional support.

“This workshop is a space for genuine exchange and co-creation. We must work together to strengthen women entrepreneurs’ associations and ensure they can drive inclusive growth,” said Zeneb Touré, Manager of the Bank’s Civil Society and Community Engagement Division, during the presentation.

The mapping exercise also identified notable success stories, including innovative approaches to training and financing for women-led small businesses.

According to Fatimetou Mint Sidi Mohamed O. Elvil, President of the Mauritanian Council of Women Entrepreneurs, the figures mirror the challenges faced on the ground. “Our associations have enormous potential, but they need structured support to achieve wider impact,” she said.

The initiative is part of the AfDB’s Affirmative Finance Action for Women in Africa (AFAWA) programme, which aims to close the $42 billion financing gap for female entrepreneurs. Since its launch in 2016, AFAWA has partnered with 185 financial institutions, mobilising over $1.2 billion for women-led enterprises.

Through its 2021–2025 Gender Strategy, the Bank is also working to make key economic sectors more accessible and to ensure equal access to resources, infrastructure, and services for women and men alike.