Casablanca, Morocco, December 10, 2024 – IFC and Goldman Sachs today announced a new partnership with African banks to support the Goldman Sachs 10,000 Women initiative, a joint program launched in 2008 to provide access to capital and training for women entrepreneurs globally.
Under the partnership, nine financial institutions from across Africa have agreed to join the 10,000 Women initiative committing to leverage the business education and skills tools the program provides to create more opportunities for women entrepreneurs across the continent by providing access to business education.
The nine institutions are Stanbic Bank Kenya, Ecobank Kenya, Ecobank Cote d’Ivoire, Equity Bank Group, Stanbic IBTC Nigeria, Banco Millenium Atlantico – Angola, Baobab Group, Zenith Bank and Orange Bank.
“10,000 Women has had a powerful impact to-date, but we know that there are more women to reach and more potential to be realized,” said Charlotte Keenan, Managing Director at Goldman Sachs. “We are delighted to partner with IFC to supercharge the growth of women-owned businesses across Africa, and mainstream lending to female business leaders. We remain committed to supporting entrepreneurs with the access to education and capital that they need to scale.”
Since 2008, the 10,000 Women initiative has provided access to capital and business training to more than 200,000 women in 150 countries.
“This expanded initiative marks a significant step forward in creating equitable economic opportunities for women in Africa, enabling them to build stronger, more resilient businesses and to realize their entrepreneurial goals,” said Nathalie Kouassi Akon, IFC’s Global Director for Gender and Economic Inclusion.
Goldman Sachs10,000 Women initiative complements the Women Entrepreneurs Opportunity Facility (WEOF), launched in 2014 by Goldman Sachs and IFC as the first-of-its-kind global facility dedicated to expanding access to capital for women entrepreneurs in emerging markets.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
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About Goldman Sachs 10,000 Women
Goldman Sachs 10,000 Women is an ongoing philanthropic initiative to foster economic growth by providing women entrepreneurs around the world with a business and management education and access to capital. The initiative is funded by the Goldman Sachs Foundation and has reached over 200,000 women from over 150 countries. In partnership with the International Finance Corporation (IFC), Goldman Sachs 10,000 Women launched the first-of-its-kind global finance facility in 2014 to enable access to capital to more women entrepreneurs. The 10,000 Women in-person business education program was launched in 2008, reaching over 10,000 women across 15 countries around the world, and in 2018, the 10,000 Women curriculum was made available online through Coursera, further democratizing access to a business education in more corners of the world. For more information on Goldman Sachs' investment in female entrepreneurs, visit: https://www.goldmansachs.com/citizenship/10000women/
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