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THE STANDARD By
Moses Omusolo |
March 15th 2021 at 14:26:30 GMT +0300
NAIROBI, KENYA: Women in business across the region are set to increase their participation in the industry after the Common Market for Eastern and Southern Africa (COMESA) launched a platform that seeks to promote their interests.
Known as 50 Million African Women Speak (50MAWSP), the platform is an information and networking hub for women which provides a one-stop shop for them to start, grow and scale up their businesses and to access financial and non-financial services.
The project is jointly implemented by COMESA, the East African Community (EAC) and the Economic Community of West African States (ECOWAS).
COMESA to fund women-owned businesses worst hit by COVID-19
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The Common Market for Eastern and Southern Africa (COMESA) has launched the 50 Million African Women Speak Platform (50MAWSP), to finance women’s businesses in their post-COVID-19 recovery. The platform is accessible on the Google Play and Apple stores.
COMESA has expressed concerns that women-led businesses have been strongly affected, underlying a grim economic reality for women businesses in Africa.
A study carried out by the International Trade Center revealed that 64% of women-led firms declared their business operations as strongly affected, compared with 52% of men-led companies. More than 90% of women entrepreneurs reported a decrease in sales during the pandemic, according to another survey from WEConnect International.