Standard Bank Group alongside the United Nations Economic Commission for Africa, (UNECA) are advising all women fund managers across the continent to send in applications for a membership slot in the African Women Leadership Fund initiative (AWLF). This innovative impact fund will advance capital and expertise to candidates who turn out successful.
AWLF Initiative started with the intention of uplifting asset management firms that under female ownership or management. This also provides a definitive economic stimulus for achieving sustainable growth throughout the continent. The fund aims to raise an ambitious $1 billion over the next decade purposefully for women fund managers who will invest in projects and businesses of high impact throughout the continent. The intended effect is to promote entrepreneurship.
Thus far, the AWLF initiative has received several applications and are inviting more. They have set their eye out for funds that are women-owned and managed that are either listed or take part in short-time private debt. Registration details are available at www.standardbank.com and applicants can email their queries to [email protected]ndardbank.co.za. The window for applying closes in June 2020.
The first phase of implementation will see fund allocation to managers across East, North, West, and Southern Africa. Allocations aim to achieve the best regional and geographical reach. To apply, the applicant must be female, reside in Africa, and have a proven fund of experience in asset management. This is then subject to investment and operational due diligence that should be complete by the end of August 2020. The first phase should start at the end of the fourth quarter of the year.
The Chief Executive of Africa Regions at Standard Bank Group, Sola David-Borha, expressed pride in the initiative given it aligns with their aim of achieving a “gender-equal Africa.”