IFC Champions Young Women Entrepreneurs in Africa with Launch of LEAD Alliance

The International Finance Corporation (IFC), a key member of the World Bank Group, has unveiled an ambitious new initiative—the Africa Leadership Economic Advancement and Development (LEAD) for Women Alliance—to foster economic opportunities for Africa's young women entrepreneurs. Announced today, this high-impact alliance is set to unlock the immense potential of women-led businesses in crucial sectors such as the creative economy, digital technology, and social enterprises.

Addressing Gender Disparities in Africa's Entrepreneurial Ecosystem

Africa is globally recognized for its high levels of female entrepreneurship. Women own an impressive 40% of small and medium-sized enterprises (SMEs) across the continent, a testament to their resilience and innovation. However, systemic barriers continue to hinder their full participation in economic growth. Only 1% of venture capital reaches women-led enterprises. In addition, many female entrepreneurs struggle to gain access to vital resources such as funding, mentorship, professional networks, and digital infrastructure.

To address these longstanding inequities, the Women LEAD Alliance will mobilize resources and expertise from a diverse array of stakeholders, including private sector leaders, philanthropists, investors, and innovators. Through this coordinated effort, the Alliance seeks to support the creation and scaling of women-owned businesses, increase job opportunities, and boost overall productivity across the African continent.

Backing Bold Leadership and Innovation

“Africa’s economic development depends on unlocking the full potential of its people, including the millions of women who are already building and leading businesses, often against the odds,” stated Ethiopis Tafara, IFC’s Regional Vice President for Africa. “Women entrepreneurs are not just building businesses—they are creating jobs, strengthening communities, and fueling the kind of growth that drives resilience and expands opportunity. This Alliance is about backing that potential with the capital, support, and visibility it deserves.”

The LEAD Alliance launches with eight founding members, all of whom are trailblazers and influential voices across various sectors:

• Mo Abudu, CEO of Ebony Life Group, a pioneer in Africa’s media and entertainment industry.

• Jeremy Awori, CEO of Ecobank Transnational, a leader in pan-African banking.

• Phuthi Mahanyele-Dabengwa, CEO of Naspers South Africa, a top global internet group.

• Tope Lawani, Co-Founder of Helios Investment Partners, one of Africa’s largest private equity firms.

• Esselina Macome, CEO of Financial Sector Deepening Program in Mozambique (FSDMoç), promoting inclusive financial services.

• Thebe Magugu, renowned fashion designer and Director of Thebe Magugu.

• Ndidi Okonkwo Nwuneli, President and CEO of the ONE Campaign, driving social impact and development.

• Fred Swaniker, Founder of Sand Technologies and Africa Leadership University, focused on developing next-generation African leaders.

The Alliance plans to expand to 12 members in total, strengthening its capacity to influence systems and policy, and to coordinate innovative approaches to supporting women-led enterprises.

A Demographic and Economic Imperative

The timing of the Women LEAD Alliance is crucial. By 2025, Africa’s population aged 15 to 35 will exceed 530 million, with women constituting half of this group. This young, dynamic demographic represents a once-in-a-generation opportunity to harness energy, creativity, and innovation to drive inclusive growth.

The Alliance will focus on four strategic areas:

1. Access to Capital: Advocating for greater allocation of financing toward women-owned and led businesses.

2. Market Access: Helping entrepreneurs connect to regional and global value chains.

3. Capacity Building: Delivering business development services and strengthening entrepreneurial ecosystems.

4. Workforce Development: Investing in skills training, especially in digital and tech sectors.

Aligned with the World Bank Group’s Global Commitment

The LEAD Alliance initiative aligns with the World Bank Group’s goal of enabling 80 million more women and women-led businesses to access capital by 2030. The Alliance will not only contribute toward this target but also build a blueprint for other regions to emulate.

In a continent where women often face cultural, institutional, and financial constraints, the Women LEAD Alliance represents a decisive step toward equity and prosperity. As the Alliance grows in strength and reach, it holds the promise of changing the face of entrepreneurship in Africa—by elevating women to the forefront of economic transformation.