AXIAN, AfDB move to back 34,000 women-led businesses, close Africa’s $49 bln finance gap

07 / 09 / 2026

By Marwa Nassar - - -

AXIAN Group and the African Development Bank (AfDB) have launched a program to expand access to finance and business support for more than 34,000 women-led enterprises across five African countries, targeting a $49 billion financing gap facing women entrepreneurs on the continent.

Two-pronged program:

Backed by the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative and the Women Entrepreneurs Finance Initiative (We-Fi), the program will combine digital financial services, business support and skills training.

The initiative will be delivered through AXIAN’s Mixx and MVola digital financial services platforms, which offer digital lending, financial literacy and business development services.

34,000 businesses targeted:

The first component will provide tailored digital financial products and services to 34,000 women-led micro, small and medium-sized enterprises in Madagascar, Tanzania and Senegal.

The second will provide financial literacy, digital skills and entrepreneurship training to 25,000 women across Madagascar, Tanzania, Senegal, Togo and Comoros.

Closing finance gap:

Africa has the world’s highest rate of female entrepreneurship, but women-owned businesses continue to face significant barriers to finance.

The program will use mobile money, digital lending and alternative credit assessment tools to reach women entrepreneurs underserved by conventional financial institutions.

Five priorities:

The program will focus on expanding digital finance, strengthening financial and digital literacy, developing products tailored to women entrepreneurs, accelerating digital inclusion and helping women-owned businesses enter and grow within the formal economy.

Implementation will be led by Mixx and MVola in partnership with local operating companies across the five markets.

Building on $160 mln AfDB loan:

The program builds on the African Development Bank’s broader support for AXIAN Telecom. In January 2025, the Bank approved a $160 million senior corporate loan to expand digital connectivity and financial inclusion across nine African countries, including dedicated funding for 22,000 women entrepreneurs in Madagascar.

Technology as enabler:

Erwan Gelebart, CEO of AXIAN Digibank and Fintech, said the program aims to use technology and financial innovation to give women entrepreneurs greater access to finance, digital tools and growth opportunities.

Melissa Basque-Roux, coordinator of the African Development Bank’s AFAWA initiative, said the partnership will expand tailored digital financial services, strengthen financial literacy and create new opportunities for women-led businesses across Africa.

The partners said the program will help women entrepreneurs access the capital and skills needed to grow their businesses, create jobs and participate more fully in the digital economy.