African women working in the investment arena have received a US$60 million boost.
The African Women Impact Fund – a joint initiative involving the AU Commission, Economic Commission of Africa, UN and other parties – announced its first funding commitment at the Global Africa Business Initiative in New York last week.
Africa Business Communities reports that the fund has a dual focus of empowering African women in the investment sector and ensuring commercial impact for investors.
The fund has an eventual goal of raising US$1 billion over the next decade for female fund managers, who in turn are expected to invest in high-impact sectors and projects across Africa, thus stimulating the economy in the region.
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