From 24 to 27 February, the Alliance for Financial Inclusion (AFI) and the Central Bank of Lesotho co-hosted a Joint Learning Program focused on Alternative Finance Instruments for Women-led Micro, Small and Medium Enterprises (WMSMEs). The initiative aimed to address the persistent financial exclusion faced by women entrepreneurs and explore innovative solutions to improve their access to funding.
Central Bank of Lesotho Deputy Governor Lehlomela Mohapi emphasized that while women play a vital role in society and economic management, they are often excluded from the formal financial sector and mainstream economy. He noted that the program sought to integrate women entrepreneurs more fully into national economies and unlock broader economic growth by improving access to appropriate financial services.
The event examined how policymakers and regulators can create supportive ecosystems that enable financial service providers to use alternative finance tools tailored to women-led businesses. Discussions focused on overcoming supply-side barriers and evaluating financing models such as digital credit, venture capital, and blended finance. Participants also explored strategies to strengthen the pipeline of “investable” women-led enterprises, ensuring they are better prepared to attract funding.
AFI members from across Africa contributed their experiences, including representatives from the Bank of Zambia, Reserve Bank of Zimbabwe, Central Bank of Kenya, Central Bank of Egypt, Bank of Uganda, and Bank of Ghana. Additional expertise was provided by organizations such as Finmark Trust, 2X Global, the United Nations Development Programme, and Deutsche Gesellschaft für Internationale Zusammenarbeit. Women entrepreneurs also shared firsthand accounts of the financing challenges they face, including during a visit to a local marketplace.
The program drew on insights from several recent AFI publications covering policy frameworks for WMSME access to finance, fintech solutions for MSME financing, alternative data for credit scoring, alternative financing mechanisms, and gender-inclusive finance models. Overall, the event underscored the importance of policy innovation, ecosystem development, and catalytic financing in expanding opportunities for women-led businesses in Lesotho and across Africa.
