Did you know that compared with other regions of the world, Sub-Saharan Africa has the highest number of female entrepreneurs? Around 41% of women in Nigeria are entrepreneurs compared to approximately 10% in the US (and 5.7% in the UK), according to recent reports. Despite this, women across the continent struggle to access the financial support needed to create their own self-sustainable business and ultimately become financially independent.
This is why the SDL Foundation has been working with the MicroLoan Foundation (MLF) for the past eight years. The Charity’s mission is to support some of the poorest women in Africa by giving them small loans so they can set up their own self-sustainable business. Support for charities like MLF is central to the SDL Foundation’s mission of supporting sustainable and structural projects that help communities become income-generating and self-sufficient.
So far, the SDL Foundation has provided three grants to MLF, which have helped to support around 50,000 women across Malawi and Zambia. Now, the SDL Foundation is extending its partnership with MLF with a fourth financial grant. This will go towards establishing MicroLoan’s presence in Zimbabwe; a country that has great challenges but immense potential. Small loans (approximately $100) will be offered to local female entrepreneurs, alongside ongoing business training and support.