“When women are economically empowered, the whole community benefits”.
There is good news for African women in the UK as Britain plans to foster a new generation of African women entrepreneurs at the first big international summit to be hosted by British Prime Minister, Boris Johnson.
At the UK-Africa Investment Summit in London, helping African women become independent and launch their own businesses will be a key focus, with the aim of boosting prosperity and women’s empowerment.
The summit will bring together African governments, business leaders and dozens of international organizations to generate new opportunities for investments and trade.
According to International Development Secretary Alok Sharma; the UK will also throw open the City of London to African firms seeking to secure resources.
Some 3,000 women will get coaching to become self-employed entrepreneurs, with a 50 per cent increase in funding from £6.8 million to £10 million.
Speaking to British tabloid Standard, he said;
Experts estimate achieving this will add trillions to the global economy, but we also know it cuts rates of violence and abuse such as child marriage and FGM, abhorrent practices which we must end.”
Women already run a third of Africa’s small firms but their economic value is modest and many are held back by barriers such as difficulty persuading banks to lend funds.
The DfID estimates that increasing women’s income and opportunities could add $12 trillion (£9.2 trillion) to the global economy by 2025.
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