{"id":23143,"date":"2022-07-19T15:43:12","date_gmt":"2022-07-19T15:43:12","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-approves-1-4m-grant-to-etg-for-funding-of-women-led-businesses-in-mozambique-tanzania-and-zambia"},"modified":"2022-07-19T15:58:15","modified_gmt":"2022-07-19T15:58:15","slug":"afdb-approves-1-4m-grant-to-etg-for-funding-of-women-led-businesses-in-mozambique-tanzania-and-zambia","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-approves-1-4m-grant-to-etg-for-funding-of-women-led-businesses-in-mozambique-tanzania-and-zambia","title":{"rendered":"AfDB approves $1.4m grant to ETG for funding of women-led businesses in Mozambique, Tanzania and Zambia"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Mozambique. <\/strong><\/span>The Board of Directors of the African Development Bank Group has approved a $1.4 million technical assistance grant to Export Trading Group(link is external) (ETG) for the funding of women-owned businesses in three countries in Sub-Saharan Africa. ETG is one of the largest and fastest-growing integrated agricultural supply chain managers and processors in Sub-Saharan Africa<\/p>\n<p>The project will enable 600 women-led businesses in Mozambique, Tanzania and Zambia (200 in each country), to improve their entrepreneurship skills through training under ETG\u2019s Women Entrepreneurship and Employability project. The project\u2019s main objective is to increase the efficiency of targeted women-owned and led small and medium-sized enterprises employed in ETG\u2019s operations. The project will run until 2025.<\/p>\n<p>Of the financing for the grant, $1.4 million will come from African Development Bank-managed We-Fi grant resources, which will be utilized to undertake a diagnostic study and capacity building of the selected enterprises in the major ETG locations. Additional co-financing of up to $400,000 will come from ETG for the employability aspects of the project. It will also be used to facilitate collaboration with financial institutions and other relevant stakeholders.<\/p>\n<p>\u201cThis new technical assistance project complements a $150 million trade and agri-finance package approved by the Bank in November 2021 to our strategic partner Export Trading Group (ETG). This is the first project to directly leverage the Bank\u2019s Affirmative Finance Action for Women in Africa program for Bank private sector agriculture projects, enhancing development impact while supporting women farmers and women-led small and medium enterprises,\u201d noted Atsuko Toda, Director for Agricultural Finance and Rural Infrastructure Development for the African Development Bank.<\/p>\n<p>The project will be implemented in partnership with ETG\u2019s development arm, the Farmers Foundation, a nonprofit organization established in 2012 in Tanzania to stimulate growth in agriculture and foster the development of rural economies. The Farmers Foundation has worked with 100,000 (40% female) agribusinesses and created an inclusive sustainable development model in multiple value chains: oil seeds, legumes, pulses, cereals, coffee and cashew in Uganda, Kenya, Tanzania, Zambia, Zimbabwe, and Mozambique.<\/p>\n<p>The project aligns with We-Fi objectives of providing women-owned enterprises with opportunities to link with domestic and global markets, scaling up access to financial products and services, building capacity and expanding networks plus mentorship.<\/p>\n<p>\u201cThe Bank\u2019s role through the AFAWA program is to support the implementation of the project through provision of gender equitable financial and technical support in agriculture towards increased productivity and food security, access to financial services, information, markets, technology, and productive resources,\u201d said Esther Dassanou, Manager of the Bank\u2019s Affirmative Finance Action for Women in Africa ( AFAWA) program.<\/p>\n<p>\u201cETG has shown its commitment to embedding a gender perspective into its business operations with the understanding that this is key to its success and that women are at the center of this development process, and a crucial resource in agriculture and the rural economy,\u201d she added.<\/p>\n<p>The agriculture sector significantly contributes to the growth of the economies of Mozambique, Tanzania, and Zambia. Women constitute up to 60% of the rural labor force and approximately 80% of food producers in these economies.<\/p>\n<p>Affirmative Finance Action for Women in Africa (#AFAWA) is proud to announce its first cohort of Women Entrepreneurship Enablers.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/mozambique\">Mozambique<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Mozambique. The Board of Directors of the African Development Bank Group has approved a $1.4 million technical assistance grant to Export Trading Group(link is external) (ETG) for the funding of women-owned businesses in three countries in Sub-Saharan Africa. ETG is one of the largest and fastest-growing integrated agricultural supply chain managers and processors [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":23142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-23143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AfDB approves $1.4m grant to ETG for funding of women-led businesses in Mozambique, Tanzania and Zambia - Mozambique<\/title>\n<meta name=\"description\" content=\"The Board of Directors of the African Development Bank 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