AfDB and AXIAN Group Launch Major Financial Inclusion Program for 34,000 Women-Led Businesses Across Five African Countries

The African Development Bank (AfDB) and the AXIAN Group have taken decisive action by launching a comprehensive financial inclusion program designed to support over 34,000 women-led enterprises across five African nations.

Despite the continent’s significant development potential, female entrepreneurship in Africa continues to face limited access to financing. This remains the primary barrier for women-managed African businesses, resulting in an estimated funding gap of $49 billion. Backed by the AfDB’s AFAWA (African Women in Business) initiative and the We-Fi (Women’s Financial Inclusion) program, this new effort leverages AXIAN Group’s digital financial service platforms, Mixx and MVola.

Two-Pronged Approach: Financing and Training

The program is structured around two key components:

1. Digital Financial Products: 34,000 micro, small, and medium-sized enterprises (MSMEs) in Madagascar, Tanzania, and Senegal will gain access to customized digital financial products.
2. Capacity Building: A second component, expanded to include Togo and the Comoros, will provide training to 25,000 women in financial management, digital skills, and entrepreneurship.

By utilizing mobile payments, digital lending, and alternative credit scoring, the initiative aims to reach a demographic that has long been excluded from the traditional banking system.

This partnership complements a $160 million loan already granted by the AfDB to AXIAN Telecom in early 2025, which included a dedicated component for 22,000 Malagasy female entrepreneurs.

Implications for North African Fintechs and Digital Finance Actors

For fintechs and digital finance players in North Africa, this program underscores the growing appetite among development finance institutions for alternative scoring models and mobile credit solutions targeted at female entrepreneurs.

Project developers in Tunisia active in financial inclusion or digital banking can identify strategic synergies with AFAWA and We-Fi—two funding windows that remain underutilized by the local ecosystem.