The World Bank approved $100 million to help Benin expand financing and support for women entrepreneurs working in both formal and informal businesses, the bank said. The Women Entrepreneurship Development and Access to Finance Program will reach more than 10,000 women-led micro, small, and medium enterprises with loans, training, mentoring, and business advice. The program will also set up a Women’s Business Center to coordinate support.
The initiative targets high-potential women-owned businesses—called “Agodjié Champions”—through competitive selection. These businesses will get technical assistance, tailored financing, help becoming investment-ready, market access, and structured mentorship to turn them into job-creating flagships of Benin’s economy.
“When women entrepreneurs have access to finance, training, and mentorship, their business performance and job creation increase significantly,” said Mamadou Tanou Baldé, World Bank Acting Country Manager for Benin.
Women face barriers beyond typical business challenges, including limited access to capital and markets. Only 3.9 percent of women-managed businesses in Benin have bank loans, and many fall into a gap where they’re too big for microfinance but struggle to reach commercial banks.
The International Finance Corporation is backing the program with capital structuring expertise, ability to pull in regional investors, and customized advisory services. IFC will offer its own financing focused on commercially viable small and medium enterprises, including through its Banking on Women program for partner financial institutions.
“This program is a real opportunity to turn women entrepreneurs into true national champions,” said Vincent Arthur Floreani, IFC Country Officer for Benin.
The program aligns with Benin’s National Policy for SME Development and Promotion 2025-2035, which aims to create a competitive business environment for wealth creation and sustainable jobs by 2035.
