The European Investment Bank (EIB) has announced a loan program called SheInvest to help Nigerian and African women entrepreneurs build capacity. The loan program worth 1.1 Euro is meant to promote gender investment and manage climate change across the continent.
The capacity building and climate management initiative was made public by the European Investment Bank President, Ambroise Fayolle, at the ongoing African Investment Forum, taking place in Johannesburg. The EIB has been one of the most consistent investors in Africa in the past 50 years. Notably, it invested over 3.3 Euro in diverse sectors in the continent last year alone.
Speaking about the latest round of investment, Fayolle said the aim is to promote female entrepreneurship by providing access to loans and a knowledge-base that have the capacity of raising women who are skillful and enterprising in Africa.