Lagos and African Development Bank launch AFAWA project

The Lagos State Government and the African Development Bank have launched the Affirmative Finance Action for Women in Africa (AFAWA) Women Entrepreneurship Project. This initiative is designed to support 610 women-led micro, small, and medium-sized enterprises within Lagos State.

The program aims to address financial and operational barriers faced by female business owners, such as limited access to institutional credit, lack of formal financial records, and insufficient collateral. To combat these issues, the project will provide structured business training, regular mentoring, and professional advisory services.

Implementation is being managed through the Lagos State Employment Trust Fund (LSETF), with Somo Africa serving as the implementing partner. The African Development Bank is providing an undisclosed seed grant to strengthen the operational capacity of the participating enterprises, which include businesses in retail, food processing, fashion, and services.