Investing in Women-Led Businesses Solving Africa’s Greatest Challenges.

We invest in women-led enterprises in Africa working at the intersection of climate resilience, livelihoods, and inclusive growth — where economic opportunity meets real-world impact.

Backing Women Solving Africa’s Most Pressing Challenges.

We invest in women-led enterprises in Africa working at the intersection of climate resilience, livelihoods, and inclusive growth — where economic opportunity meets real-world impact.

Who we work with

Afrishela supports businesses addressing the intersection of climate vulnerability, livelihood insecurity, food insecurity, and health burdens across East and Southern Africa.

We invest in gender-responsive, climate-smart enterprises that enable African women and marginalised communities to drive — and benefit from — climate adaptation and mitigation.

Who We Work With

Afrishela supports businesses addressing the intersection of climate vulnerability, livelihood insecurity, food insecurity, and health burdens across East and Southern Africa.

We invest in gender-responsive, climate-smart enterprises that enable African women and marginalised communities to drive — and benefit from — climate adaptation and mitigation.

Investment Eligibility Criteria

Investment Eligibility Criteria

Stage and turnover Requirements
We work with companies with:

  • At least three years of operations

  • Cash-flow positive

  • Minimum annual turnover of USD 60,000

  • Domiciled in Kenya, Uganda, Rwanda, Tanzania, South Africa or Zambia.

Women Ownership & Leadership Criteria

  • ≥50% women ownership or significant co-founder stake, with balanced leadership teams

  • 40–60% women representation in senior roles

  • Businesses that actively support women as employees, suppliers, or consumers

  • Enterprises delivering products or services that improve the lives of women and children while strengthening community sustainability.

Climate resilience

  • Businesses that build climate resilience and address the social impacts of climate change

  • Climate-smart solutions in agriculture, energy, water systems, and related sectors

Investment Eligibility Criteria

Stage and Turnover Requirements
We work with companies with:

  • At least three years of operations

  • Cash-flow positive

  • Minimum annual turnover of USD 60,000

  • Domiciled in Kenya, Uganda, Rwanda, Tanzania, South Africa or Zambia.

Women Ownership & Leadership Criteria

  • ≥50% women ownership or significant co-founder stake, with balanced leadership teams

  • 40–60% women representation in senior roles

  • Businesses that actively support women as employees, suppliers, or consumers

  • Enterprises delivering products or services that improve the lives of women and children while strengthening community sustainability.

Climate Resilience

  • Businesses that build climate resilience and address the social impacts of climate change

  • Climate-smart solutions in agriculture, energy, water systems, and related sectors

What We Offer

We deliver a blended solution combining impact investment capital, hands-on technical assistance, and ecosystem advocacy for women-led businesses across Africa.

What We Offer

We deliver a blended solution combining impact investment capital, hands-on technical assistance, and ecosystem advocacy for women-led businesses across Africa.

Capital

Tailored financing of USD 20,000–500,000 including:

  • Revenue-based finance and mezzanine loans

  • Impact-linked debt

  • Preference shares or equity

  • Designed for irregular cash flows and low-collateral business realities

Technical Assistance – Post-Investment Value Creation

Post-investment support focused on value creation through:

  • Market readiness and expansion

  • Governance and leadership strengthening

  • Impact measurement and ESG reporting guidance

  • Operational efficiency and financial management.

Visibility and Investor Networks

We expand access to capital by:

  • Hosting investor showcases across the continent

  • Convening entrepreneur roundtables and masterclasses on investor expectations and capital suitability

  • Deal flow facilitation and co-investment opportunities with impact investors and funders.

Advocacy – Reshaping Finance for African Women

Afrishela champions increased capital allocation to women fund managers in Africa and works to redefine how risk is assessed in African markets:

  • Challenge outdated risk models that exclude women

  • Promote gender-lens investing as standard practice

  • Share evidence and best practice to shift market and policy behaviour.

Capital

Tailored financing of USD 20,000–500,000 including:

  • Revenue-based finance and mezzanine loans

  • Impact-linked debt

  • Preference shares or equity

  • Designed for irregular cash flows and low-collateral business realities

Technical Assistance – Post-Investment Value Creation

Post-investment support focused on value creation through:

  • Market readiness and expansion

  • Governance and leadership strengthening

  • Impact measurement and ESG reporting guidance

  • Operational efficiency and financial management.

Visibility and Investor Networks

We expand access to capital by:

  • Hosting investor showcases across the continent

  • Convening entrepreneur roundtables and masterclasses on investor expectations and capital suitability

  • Deal flow facilitation and co-investment opportunities with impact investors and funders.

Advocacy – Reshaping Finance for African Women

Afrishela champions increased capital allocation to women fund managers in Africa and works to redefine how risk is assessed in African markets:

  • Challenge outdated risk models that exclude women

  • Promote gender-lens investing as standard practice

  • Share evidence and best practice to shift market and policy behaviour.

Alternative credit assessment framework

“When loans require land as collateral in a country where less than 20% of women own land, we’re not assessing risk—we’re enforcing exclusion.”

Afrishela’s Alternative Credit Assessment Framework reimagines credit scoring to expand access for women entrepreneurs and underserved SMEs in Africa.

Alternative credit assessment framework

“When loans require land as collateral in a country where less than 20% of women own land, we’re not assessing risk—we’re enforcing exclusion.”

Afrishela’s Alternative Credit Assessment Framework reimagines credit scoring to expand access for women entrepreneurs and underserved SMEs in Africa.

Why traditional financing fails women

Rigid collateral demands, inflexible structures, and biased scoring models hinder women’s access to capital, fuelling a USD 42 billion financing gap for African women-owned SMEs (IFC, 2024).

Why Traditional Financing Fails Women

Rigid collateral demands, inflexible structures, and biased scoring models hinder women’s access to capital, fuelling a USD 42 billion financing gap for African women-owned SMEs (IFC, 2024).

Our framework – the 3 R’s

Afrishela’s Alternative Credit Assessment Framework gives financial institutions practical tools to unlock lending for women:

  • Reframing Collateral: Recognising movable assets such as equipment, inventory, future sales, and collective guarantees.

  • Re-evaluating Risk Scoring: Valuing strong repayment histories, business fundamentals, and founder experience.

  • Responsive Support:   Aligning pre- and post-investment support with risk insights and deploying innovative instruments to manage both real and perceived risk.

Our Framework – the 3 R’s

Afrishela’s Alternative Credit Assessment Framework gives financial institutions practical tools to unlock lending for women:

  • Reframing Collateral: Recognising movable assets such as equipment, inventory, future sales, and collective guarantees.

  • Re-evaluating Risk Scoring: Valuing strong repayment histories, business fundamentals, and founder experience.

  • Responsive Support:   Aligning pre- and post-investment support with risk insights and deploying innovative instruments to manage both real and perceived risk.

Hear from fund managers who have used the framework

Hear from Fund Managers who have used the framework

Where we Work

Afrishela is currently active across East and Southern Africa:

  • East Africa: Kenya, Rwanda, Tanzania and Uganda

  • Southern Africa: South Africa and Zambia

  • 60% of capital deployed in East Africa, 40% in Southern Africa

  • Scaling toward a USD 200 million pan-African impact investment fund, with West Africa and North Africa planned next

  • We are scaling toward a USD 200 million pan-African fund, with West and North Africa planned next.

  • Through the Graça Machel Trust’s pan-African network across 20 countries, we draw on deep grassroots knowledge and trusted local partnerships.

Where we Work

Afrishela is currently active across East and Southern Africa:

  • East Africa: Kenya, Rwanda, Tanzania and Uganda

  • Southern Africa: South Africa and Zambia

  • 60% of capital deployed in East Africa, 40% in Southern Africa

  • Scaling toward a USD 200 million pan-African impact investment fund, with West Africa and North Africa planned next

  • We are scaling toward a USD 200 million pan-African fund, with West and North Africa planned next.

  • Through the Graça Machel Trust’s pan-African network across 20 countries, we draw on deep grassroots knowledge and trusted local partnerships.