The covid-19 pandemic is ravaging the world indiscriminately, but a combination of health and economic factors means the pandemic presents a particular set of challenges in Sub-Saharan Africa. SMEs already face challenges in accessing finance and will undoubtedly face unprecedented challenges due to covid-19. Women-led SMEs are the worst affected because they tend to be in the most exposed sectors and receive the fewest amount of support in terms of financing. According to a recent study by the International Trade Centre, 64 percent of women-led firms declared their business operations as strongly affected, compared with 52 percent of men-led companies.
Therefore, it is critical for DFIs, investors and other financial intermediaries to apply a gender-lens in investment analysis and decision-making, not just as a “nice-to-have,” but core to any strategic action.
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