The collaboration agreement was signed by Oulimata Sarr, UN Women Regional Director for West and Central Africa and Marie Laure Akin-Olugbade in Dakar.
DAKAR, Senegal, February 3, 2022/APO Group/ — The African Development Bank Group ( www.AfDB.org ), through its Initiative to promote women’s access to financing in Africa (AFAWA), signed on January 27 in Dakar, a financing agreement of four million US dollars with UN Women to support women entrepreneurs’ access to public procurement in West Africa.
The financing agreement – the largest ever signed by the Bank in favor of UN Women – will improve the access of women-led businesses to public contracts and the development of gender-sensitive procurement initiatives, as part of inclusive post-Covid-19 recovery programs in Senegal, Mali, Côte d’Ivoire and Nigeria.
“The African Development Bank is extremely proud to have signed this project in partnership with UN Women through funding from the AFAWA initiative,” said Marie-Laure Akin-Olugbade, the Bank’s Managing Director for the East Africa region. Where is. We are committed to unlocking the entrepreneurial potential of women and seeing them grow. We are convinced that this high-impact project will provide great opportunities for women entrepreneurs in Senegal and in the region”.
The collaboration agreement was signed by Oulimata Sarr, UN Women Regional Director for West and Central Africa and Marie Laure Akin-Olugbade in Dakar. This signing took place in the presence of the President of the African Development Bank Group Dr. Akinwumi A. Adesina, on an official visit to Senegal, and the Senegalese Minister of Economy, Planning and Cooperation, Amadou Hott.
Public procurement accounts for a significant portion of global demand for goods and services – a multi-billion dollar industry accounting for 15-30% of global gross domestic product. However, women-owned businesses only have access to 1% of government procurement. In West Africa, women are underrepresented as entrepreneurs accessing public procurement opportunities. A UN Women study found that in Senegal, for example, less than 10% of women entrepreneurs are aware of positive public procurement legislation aimed at increasing women’s engagement, and less than 5% are effectively informed of the process and methods of awarding public contracts.
The African Development Bank is extremely proud to have signed this project in partnership with UN Women through funding from the AFAWA initiative. Oulimata Sarr welcomed the strategic partnership between UN Women and the African Development Bank Group.
“This project comes at the right time because women entrepreneurs must be supported for recovery after the Covid-19 pandemic,” said Oulimata Sarr. The public and private sectors have a vital role to play in enabling women-owned businesses to access larger contracts. In addition to interventions in Nigeria, Mali, Côte d’Ivoire and Senegal, the project will work with regional institutions to influence key continental processes that are important for women entrepreneurs’ access to markets, such as the implementation of the African Continental Free Trade Area. “, she said.
The project aims to improve legislation and improve women’s abilities to access public tenders – ensuring that women are equipped with technical skills in order to access procurement opportunities. The project will also contribute to mitigating the impact of the health crisis by helping women-led small and medium-sized enterprises to improve their skills to manage their online activities, operate remotely and adjust their business models, including by exploring opportunities of innovation.
Under this project, UN Women will work with national procurement agencies, small and medium enterprise departments, as well as women entrepreneurs.
Distributed by APO Group for African Development Bank Group (AfDB).
