Women’s economic empowerment is not a side issue—it’s a core driver of growth. When women thrive, families, communities, and entire economies thrive. Yet in Africa, women still face a $42 billion financing gap. We must close it.

Analysis

The statement’s quantitative claim matches figures cited in the African Development Bank’s 2019 launch of the AFAWA initiative, which identified a $42 billion financing gap for women‑owned enterprises in Africa. The broader assertions about women’s empowerment driving growth are widely endorsed by development research, though they are not quantifiable claims. No reputable source disputes the $42 billion figure.

Background

AFAWA (Affirmative Finance Action for Women in Africa) was launched in 2019 by the African Development Bank, UNDP, and other partners to address gender gaps in access to finance. Their baseline assessment highlighted a $42 billion unmet financing need for women entrepreneurs across the continent. Closing this gap is seen as essential for inclusive economic growth.

Verdict summary

The claim that African women face a $42 billion financing gap is supported by AFAWA and African Development Bank data.

Sources consulted