Following a high-impact pilot phase that saw female-led startups collectively raise over $4 million in financing, the International Finance Corporation (IFC) and the Abdul Samad Rabiu Africa Initiative (ASR Africa) announced the expansion of the She Wins Africa program on February 6, 2026.
The initiative will now scale from its initial 100 participants to support 1,000 women entrepreneurs across sub-Saharan Africa. This expansion marks a strategic shift from a successful regional pilot to a continental engine for gender-inclusive economic growth.
1. Pilot Results: Exceeding the $4M Benchmark
The closing event in Lagos highlighted the tangible gains of the first cohort:
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Capital Mobilization: Participating startups raised over $4 million in external financing.
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Investment Success: 17 women-led enterprises successfully secured funding from external partners, outperforming initial targets.
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Technical Reach: The program delivered 123 hours of targeted technical support and provided tailored advisory services to 22 high-potential startups.
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Network Strength: Facilitated 275 investor connections and mobilized a network of 100 mentors across Africa.
2. The Catalytic Funding Model
A core pillar of the program’s success has been its ability to “de-risk” women-led businesses for private investors.
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Grant-to-Investment Ratio: An initial catalytic grant envelope of approximately $100,000 helped mobilize nearly $400,000 in follow-on investment.
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Investment Partners: Key regional and local partners involved include Sahel Capital, Octerra Capital, IMEX, Nubia Capital, and Convergence Advisory.
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Operational Impact: Funding was primarily used to expand production capacity, upgrade infrastructure, and hire additional staff, directly translating capital into job creation.
3. Phase Two: Strategic Segmentation
The next phase, led by Marieme Niang Camara (IFC) and Ubon Udoh (ASR Africa), will move beyond a “one-size-fits-all” approach to a segmented model:
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Startups: Continued focus on investment readiness and business fundamentals.
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Growth-Stage: Tailored advisory for scaling operations and entering new markets.
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Scale-Ups: Direct linkages to IFC-backed banks and larger venture funds for late-stage capital.
She Wins Africa: Program Impact at a Glance
“Starting with 100 women was a successful pilot, but for a region like Africa, 100 is only the beginning. We are now strategically segmenting support to turn pilot success into regional transformation.” — Marieme Niang Camara, IFC Regional Gender Lead.
