Finance

HSBC launches US$1 billion Female Entrepreneur Fund in 11 countries, including Egypt

HSBC launches US$1 billion Female Entrepreneur Fund  in 11 countries, including Egypt
Wednesday, 18 May 2022 16:34

The fund is launched in addition to HSBC Roar program to help women entrepreneurs address business challenges. For that purpose, it will provide funds and technical support. 

British banking group HSBC recently announced the launch of a US$1 billion fund dedicated exclusively to financing women entrepreneurs in 11 countries around the world. Only one of the beneficiary countries is in Africa, Egypt namely.  

Through the fund, HSBC will provide loans to women-led businesses over the next 12 months. It will also offer technical support including networking sessions, coaching from experienced bankers, and masterclasses led by business leaders. 

The exact volume of the loans to be provided to each company was not disclosed, nor were the repayment terms or the interest rates. 

 "The level of funding received over time by female-led businesses is significantly lower than male counterparts, while the recent impacts of the pandemic have seen these same businesses disproportionately affected. female-owned businesses are also less likely to have global networks, meaning international expansion can prove particularly challenging [... ]As the global economy continues to rebuild from the impact of the pandemic, small and medium-sized businesses will continue to be the bedrock on which our economies and local communities are built, meaning we need to ensure that those led by women are given the support to fulfill their full potential," said Sam Cooper-Gray, Global Head of Market Strategy at HSBC Business Banking. 

The fund launched in addition to HSBC’s Roar programs aimed at helping “address the challenges and bias that female leaders face.” 

In Africa, credit access is one of the major challenges faced by women entrepreneurs. In 2019, only 3% of startup funding and 2% of venture capital went to women entrepreneurs globally. According to a 2019 study by the Boston Consulting Group, closing the gender gap would increase global GDP by US$5 trillion.

Chamberline MOKO

On the same topic
Yango Group, through its $20 million venture fund, has made a strategic investment in Zanifu, a Kenyan B2B fintech specializing in inventory...
The West African Development Bank held the first board meeting of its new foundation. Two thematic funds will target emergency solidarity and...
• BOAD approved two refinancing lines totaling CFA25 billion ($44.2 million).• BGFI Bank Côte d’Ivoire will receive CFA10 billion to support the...
• Senegal raised CFA450 billion ($796 million) in its third public bond issue of 2025, one day after Moody’s downgraded its sovereign rating from B3 to...

Most Read
01

• UAC of Nigeria acquired CHI Limited, known for Chivita juices and Hollandia dairy, from Coca-Cola ...

UAC of Nigeria Takes Control of CHI Limited, Former Coca-Cola Subsidiary
02

• AfDB chief Sidi Ould Tah met BOAD president Serge Ekué in Abidjan on Aug. 30.• Talks focused on jo...

AfDB, BOAD join forces to expand financing for West Africa projects
03

Côte d’Ivoire traced 40% of cocoa for 2024/25 season Most cocoa remains untracked due to info...

With 40% of Its Cocoa Traceable, Côte d’Ivoire Faces a Race to Meet New E.U. Standards
04

• World Bank raises 2025 growth forecasts for Benin, Mali, Burkina, Côte d’Ivoire• Senegal and Niger...

World Bank Revises Up 2025 Forecasts for Four WAEMU Countries, Amid Falling Inflation
05

IFC will provide up to $40 million to Banque Islamique du Sénégal (BIS) under a Mourabaha agr...

IFC Lends $40 Million to Senegal’s Islamic Bank to Triple SME Loans
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.