Standard Bank commits $10m to empower AWIF managers

By InstinctBusiness Sep 19, 20250

Standard Bank, Africa’s largest bank by assets, has pledged $10 million to the African Women Impact Fund (AWIF) to support women fund managers and boost investment in women-led businesses across the continent.

The announcement was made during the G20 Empowerment of Women Working Group (EWWG) Women to Africa event, co-hosted with South Africa’s Department of Women, Youth and Persons with Disabilities (DWYPD) at the Inanda Club in Sandton.

Luvuyo Masinda, Chief Executive of Corporate and Investment Banking at Standard Bank, emphasized the bank’s commitment to driving sustainable growth. “We are proud to be at the forefront of this initiative,” Masinda said.

“By mobilizing capital for women-owned businesses and strengthening the role of women as fund managers and decision-makers, we are expanding access to finance, unlocking opportunities, and driving growth.”

The AWIF, a Pan-African gender-lens initiative, is led by the UN Economic Commission for Africa, UN Women, and the African Union Commission under the African Women Leadership Network (AWLN).

Standard Bank serves as the lead sponsor, with RisCura Invest as the investment manager and MiDA Advisors as the strategic advisor. The fund aligns with the African Union’s Agenda 2063 and the UN’s Sustainable Development Goals 5 and 8, addressing a $42 billion funding gap faced by women entrepreneurs in Africa.

According to an International Finance Corporation report, female fund managers are twice as likely to invest in women-led businesses, creating a ripple effect for financial inclusion. Lindeka Dzedze, Standard Bank’s Executive Head of Strategic Partnerships for Global Markets and AWIF Chair, underscored the need for intentional gender-focused investing. “Women must be well-represented in decision-making roles within investment management to achieve inclusive and sustainable growth,” she said.

The G20 Women to Africa event served as a platform for action-driven dialogue on gender equality and financial inclusion, bringing together public, private, and civil society stakeholders. South Africa’s Minister of Women, Youth and Persons with Disabilities, Sindisiwe Chikunga, praised the initiative, stating, “This public-private partnership moves beyond dialogue to deliver strategic, sustainable solutions, fostering success and shared benefits for our communities.”

AWIF’s strategy empowers women fund managers and supports small and medium enterprises (SMEs), amplifying economic transformation across Africa. By fostering untapped talent and promoting market-based investments in women-led businesses, the fund aims to create a powerful multiplier effect for sustainable development.