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West Africa: An incubator and investment fund dedicated to women in the FinTech sector

23/04/2021
Source : ORISHAS FINANCE
Categories: Companies

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Capacity building is also a critical issue. WIC recognized this situation and launched its capacity building services, WIC Academy. The Academy offers tailor-made consulting services after a diagnosis of the participating start-ups.

The financing gap for female entrepreneurs in sub-Saharan Africa currently stands at US$42 billion. Only 13% of FinTech start-ups in Senegal have female founders or co-founders. Traditional training programs offered by incubators do not meet the existing needs of women-led start-ups.
Fortunately, WIC's ImpactHub actively takes into account an entrepreneur's gender and age. 40% of its clients are women and 90% of all founders are under 35 years old.
ImpactHub also plans to develop a specific program for women. However, it has yet to systematically delve into the reasons why women are underrepresented in the start-up industry in Francophone West Africa.

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