Firm secures US$1.9m grant to support women entrepreneurs in Africa

The impact investing enterprise eHA Impact Ventures (EIV) has been awarded a US$1.9m grant from the non-profit organisation eHealth Africa (eHA) to support women entrepreneurs in Africa.

eHA’s board of directors approved the donation as part of its effort to “strengthen” healthcare delivery systems and support vulnerable populations.

The grant, the organisation said, will be deployed to “upscale” women-funded companies to improve the health and wealth of African women, their families and their communities.

The donation is hoped to address the US$42bn funding gap for women entrepreneurs in Africa and help female founders have better access to funding opportunities.

In addition, the funds are expected to support health interventions like the pre-screening of cervical cancer and improve delivery of blood and blood products to healthcare facilities.

“The grant will be instrumental in boosting the economic capacity of women across Africa by supporting high-impact women-owned businesses,” said Evelyn Castle, chief executive officer at EIV, who founded the firm in 2021.

“Furthermore, it will [help us] upscale funding, mentorship and training programmes to help women create thriving businesses that drive economic growth in their communities.”

My Le, board executive at eHealth Africa, said: “These donations could not have come at a better time as  women continue to struggle to meet up with both health and economic demands. Thus we are optimistic that the funds will go a mile in bridging fiscal gaps for women and other vulnerable groups to lead healthier lives.

“Supporting women will go a long way in not just improving their societal impact but also contribute immensely to sustainable development especially in the African region.”

Recognising women’s “vital” role in building strong health systems, Atef Fawaz, CEO of eHealth Africa, added: “We acknowledge the profound impact women have in strengthening healthcare systems, aligning with our vision at eHealth Africa.”

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