Financial services conglomerate VFD Group has partnered with Arcadia Africa Day, a subsidiary of Utopia Media Group, to support 5,000 women-led small and medium-sized enterprises across Africa.
In a statement on Sunday, it was indicated that the initiative set to launch as part of Africa Day 2025 celebrations will provide financial backing and strategic support through the Abada platform, fostering inclusive economic growth in countries such as South Africa, Namibia, and Ghana.
Africa Day is an annual commemoration on May 25 of the 1963 founding of the Organisation of African Unity. On this day, leaders of 30 of the 32 independent African states at the time signed a founding charter of the OAU in Addis Ababa, Ethiopia. In 2002 the OAU established its own successor, the African Union.
According to the statement, VFD Group has built a reputation for pioneering innovative financial solutions tailored to the continent’s dynamic market, and this collaboration underscores its commitment to closing the financing gap for women entrepreneurs, a crucial step in accelerating economic development across the region.
In the statement, founder of Arcadia Africa Day, Akintunde Marinho, said, “We are thrilled to partner with VFD Group to provide funding and support to female-owned SMEs. This initiative has the potential to unlock economic opportunities that will create lasting ripple effects across the continent.”
He noted that this partnership will leverage the Abada platform to provide not just funding but also resources aimed at ensuring long-term business sustainability.
He added, “Female-owned SMEs looking to benefit from this initiative can sign up on Arcadia Africa Day’s SME platform, Abada, and meet specific eligibility criteria. The partnership seeks to offer sustainable solutions to ensure the growth and long-term success of these businesses.”
By facilitating access to capital and strategic support, VFD Group and Arcadia Africa Day are reinforcing their commitment to fostering a more inclusive and resilient African economy, one where women-led businesses can thrive.
