Standard Bank has pledged $10 million, equivalent to R180 million to the African Women Impact Fund (AWIF) to support women-led investment firms and entrepreneurs across Africa.
The announcement was made on Friday, August 29, 2025 at the G20 Empowerment of Women Working Group’s Women to Africa event in Sandton. The event was co-hosted by Standard Bank and the Department of Women, Youth and Persons with Disabilities.
Luvuyo Masinda, Chief Executive of Corporate and Investment Banking at Standard Bank, said the pledge reflects a commitment to long-term change.
“By strengthening the role of women as fund managers and decision makers, we are helping expand access to finance, unlock opportunities and drive growth,” Masinda said.
The AWIF is a Pan-African gender-lens investment initiative, driven by the UN Economic Commission for Africa, UN Women, and the African Union Commission. It targets the $42 billion funding gap that women entrepreneurs face, and supports the African Union’s Agenda 2063 and the UN’s Sustainable Development Goals.
Research by the International Finance Corporation shows that female fund managers are twice as likely to invest in women-led businesses as their male counterparts. The IFC says this ripple effect could accelerate financial inclusion and economic growth by giving more women access to capital.
Standard Bank has been the lead sponsor and promoter of AWIF since its inception. RisCura Invest serves as the investment manager, providing incubation support for emerging fund managers, while MiDA Advisors acts as a strategic advisor.
Lindeka Dzedze, Standard Bank’s Executive Head of Strategic Partnerships for Global Markets and chair of AWIF, said the bank’s investment reflects a deliberate effort to tackle inequality in the financial sector.
“We must be intentional about gender-focused investing and ensure that women are well represented in decision-making roles within the investment management industry,” Dzedze said.
Minister Sindisiwe Chikunga of the Department of Women, Youth and Persons with Disabilities praised the pledge as a model of successful public-private collaboration.
“We are proud to witness key partnerships like this one, which move beyond dialogue and translate into strategic, sustainable solutions. It is through collaboration that greater benefits for our communities and country can be achieved,” she said.
AWIF’s model is designed to nurture smaller, emerging fund managers often overlooked by larger institutions. By supporting these managers, the fund opens new opportunities for women-led businesses and strengthens the pipeline of small and medium-sized enterprises across Africa.
The Women to Africa event brought together policymakers, investors, and civil society leaders to push for action-driven strategies that close the gender gap in finance and business. Speakers called on stakeholders to commit resources and partnerships that deliver tangible, long-term impact.
