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.