WIC CAPITAL
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
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.
What is our 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 do we fund this investment?
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
- Effective date
- 7/16/2020
- Total FMO financing
- EUR 0.10 MLN
- Funding
- MASSIF