Photo: Female Millet Worker
Banyan Global’s leadership on the United States Agency for International Development-funded West Africa Trade and Investment Hub is increasing women entrepreneurs’ access to financing. To date, it’s facilitated 22 loans totaling $1.4 million to support women-owned businesses in Burkina Faso, Cote d’Ivoire, Nigeria, and Senegal. In July, three more women-owned businesses secured $49,167 in financing to expand their businesses thanks to Trade Hub support and coordination with local organizations. The project’s finance and investment strategy works through a regional network of financial advisors and in collaboration with agricultural association in Burkina Faso. Through these networks, the project is providing technical assistance on financial management to female business owners seeking access to fixed asset and working capital loans.
Most recently, in Mali the project’s financial advisor assisted dried-mango processor Tako Sarl to obtain a $16,400 working-capital loan to increase its stock of raw materials and meet increasing demand. The same financial advisor facilitated a $24,584 loan from another local bank for a female cereal processor named Dado Production, to purchase raw materials and new equipment to boost its processing. In Burkina Faso, female cereal processor Etablissement Tout Super won $4,000 for its business plan in a competition run by Afrique Verte, and with Banyan Global support she secured a $8,000 loan enabling it to construct a second processing plant. In December 2015, Etablissement Tout Super received an additional $3,400 in working capital.