New Investments

Wic Capital Secures $1 Million Loan From FSD Africa to Support Women Entrepreneurs in Senegal and Côte d'Ivoire

Women-focused investment fund, Wic Capital, has secured a $1 million loan from a prominent UK investor, FSDAi Nyala Facility.

The new funding aims to address the significant financial constraints women entrepreneurs face in Senegal and Côte d’Ivoire, focusing on supporting financial inclusion and economic development.

Established in 2019 by the Women’s Investment Club Senegal, Wic Capital dedicates its operations to supporting women-owned businesses navigating the challenging economic landscapes of Senegal and Côte d’Ivoire.

Its recent announcement revealed a strategic move to empower women entrepreneurs further through a substantial line of credit from FSD Africa.

The $1 million loan will be utilized by Wic Capital to provide innovative financial products specifically tailored to the unique needs of its target audience.

Beyond financial assistance, the fund aims to fortify women entrepreneurs by offering valuable mentoring and training sessions, acknowledging the multifaceted challenges faced by businesses led by women in the region.

Anne-Marie Chidzero, the Investment Director at FSD Africa, highlighted the significance of this loan in supporting Wic Capital’s expansion strategy in Senegal and Côte d’Ivoire.

She emphasized that the loan will serve as a catalyst, enabling Wic Capital to acquire additional funds to bolster its mission in the two West African countries.

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