EIV Secures $1.9m Grant to Boost Women Entrepreneurs in Africa
In a significant move towards fostering gender equality and supporting women entrepreneurs, eha Impact Ventures (EIV) has recently been awarded a $1.9 million grant from eHealth Africa (eHA), a renowned global health organization. The grant aims to provide vital support to female founders across Africa, addressing the substantial $42 billion funding gap they currently face.
This milestone grant underscores EIV’s commitment to offering catalytic capital to its portfolio and potential investments, marking a significant step forward in empowering women in the entrepreneurial landscape. Notably, it positions female entrepreneurs to access improved funding opportunities and prioritizes their financial needs in an ever-evolving market.
Evelyn Castle, CEO of EIV, emphasized the importance of this donation, stating that it validates the immense potential and talent of women entrepreneurs across the continent. In her statement the CEO, Evelyn Castle said, “the donation validates the recognised potential and untapped talent of women entrepreneurs across the continent.”
She stressed that EIV would use the donation to create a supportive entrepreneurial ecosystem through increased funding, mentorships, and training programmes.
“We will support women entrepreneurs to grow their businesses, create jobs, and enhance African healthcare systems,” added Evelyn Castle.
Atef Fawaz, CEO of eHealth Africa, highlighted the crucial role women play in strengthening healthcare systems, aligning with eHealth Africa’s vision. Atef Fawaz, the CEO of eHealth Africa, said: “We acknowledge the profound impact women have in strengthening healthcare systems, aligning with our vision at eHealth Africa.”
My Le, a board executive at eHealth Africa, underscored the timeliness of the donation, particularly as women face ongoing challenges in meeting health and economic demands. She said in her statement, “These donations could not have come at a better time as women continue to struggle to meet up with both health and economic demands. Thus we are optimistic that the funds will go a mile in bridging fiscal gaps for women and other vulnerable groups to lead healthier lives.
“Supporting women will go a long way in not just improving their societal impact but also contribute immensely to sustainable development especially in the African region.”
EIV, as a philanthropic impact investing enterprise, specializes in supporting early-stage, high-impact, women-led businesses in Africa. Through innovative funding options and shared business resources, EIV aims to ensure the success and growth of these businesses, ultimately driving economic empowerment and societal impact across the continent.
This grant not only represents a financial boost for women entrepreneurs but also signifies a broader commitment to gender equality, economic growth, and sustainable development in Africa. As women continue to play a vital role in building resilient and inclusive societies, initiatives like these are crucial steps towards realizing their full potential and fostering a more equitable future for all.