WIC Capital Secures USD 1 M Facility To Boost West African MSMEs

WIC Capital, a local capital provider investing in Senegal and Ivory Coast that focuses on financing  women-owned and managed micro, small and medium enterprises (MSMEs), has secured a USD 1 M loan from the FSDAi Nyala Facility BV to expand its impact.

WIC Capital was established by the Women’s Investment Club Senegal with the vision of giving women entrepreneurs access to modern financing instruments for inclusive development. The fund is one of the first investment mechanisms to provide appropriate financing and support to women-owned MSMEs in Senegal and West Africa. WIC Capital’s objective is to identify, nurture and develop a portfolio of promising start-ups and women-led SMEs, but also to ensure that they become high-growth businesses that can participate in the expansion of the economies of Senegal and Ivory Coast. It works with early-stage, women-owned or led enterprises to provide first-time external capital as well as business training and mentorship. It also leverages a large network of successful women entrepreneurs and civic leaders to co-fund and support these emerging businesses.