Togo: BOA encourages female entrepreneurship
In recent years, the role of women has evolved in Togo, from homemaker to entrepreneur. But despite the efforts of the government and its institutions, women are still finding it difficult to launch their own businesses, due to a lack of funding.
As part of its policy of supporting small and medium-sized enterprises, the Bank of Africa (BOA) today signed two financing partnerships with the Lim Impact group and the Association of Women business owners in Togo(AFCET).
The aim of this collaboration is to improve financial inclusion and economic development in Togo.
A total of €500 million has been pledged to the Lim Impact group. This funding will enable this group of some forty commercial and social economy enterprises, committed to promoting equal opportunities for young people and women, to create growth and share risks.
On the other hand, AFCET will benefit from an envelope of one billion euros from BOA-Togo to finance the projects of SMEs run by its members.
The association is also committed to providing support in managing the projects financed, thereby simplifying procedures and strengthening the positive impact on Togo’s female entrepreneurial sector.
By working together to facilitate access to quality financial and professional resources, the two entities are affirming their shared commitment to the country’s socio-economic development.
Through these two agreements, Bank of Africa is further demonstrating its commitment as a key partner of the small and medium-sized enterprise sector, demonstrating its willingness to support the government’s development policy.
Sitou AYITEVI
