Project detail - WIC CAPITAL

WIC CAPITAL

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Who is our client

Women's Investment Club Senegal (WIC Senegal) is a non-profit woman-led initiative, established in 2016 by four Senegalese women entrepreneurs whose objective is to promote women’s participation in economic growth of Africa through investing in Women-led MSMEs (WMSMEs). To date, WIC Senegal has grown to 81 members and has established i) the fund WIC Capital focusing on early stage investments in WMSMEs and ii) the WIC Academy that will provide non-financial services tailored to WMSMEs aimed at strengthening and expanding their businesses and strengthening networks.

Funding objective

To strengthen the WIC Academy with a classic CD grant, supporting the first cohort of WMSMEs to receive tailored technical support, amongst others to get these WMSMEs to a stage of investment readiness.

Why we fund this project

Every year, gender gap issues cost approximately USD 95 billion to sub-Saharan Africa. This cost is largely explained by the fact that women are not able to fulfil their economic potential. In Senegal specifically, women entrepreneurship still represents a vast untapped source of job creation and economic growth. WIC Capital and the WIC Academy address the challenges faced by many female entrepreneurs in Senegal.

More investments

Date Total FMO financing
11/20/2020 EUR 0.25 MLN
Region
Africa
Country
Senegal
Sector
Financial Institutions
Signing date
7/16/2020
Total FMO financing
EUR 0.10 MLN
Fund
MASSIF
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)