In 2021, AfDB reported that there exists a $42b gender financing gap in Africa. Globally, the IFC estimates a $300b gender financing gap, where more than 70% of women-owned small and medium enterprises have inadequate or no access to financial services. Beyond business financing, women entrepreneurs (WSMEs) generally account for the highest financially excluded demographic in Africa, as only 37% of women have and own traditional bank accounts. 

For nations and communities to experience sustained and inclusive economic growth, we have to ensure continuous financial and economic inclusion. 

This implies all demographics and groups of people have readily available, accessible and affordable access to financial services. For WSMEs this would inherently harness their untapped business potential, ensuring business sustainability and consistent individual economic prosperity. Bridging the gender financing gap, especially for WSMEs is not solely about availability or affordability but more about WSMEs’ willingness and capability to access financing opportunities. Evidence from an IMF study of 47 African countries, indicated that women are more likely to self-select out of the credit market due to low perceived creditworthiness. 

With this understanding, G4Her is an accelerator program targeted at building the capacity of women-led small and medium enterprises (WSMEs) to enable them to transition to high potential fundable growth stage businesses.