Women Investment Club Senegal

Launched in 2016, the Women's Investment Club now has 99 women members who, thanks to their personal savings, enable women entrepreneurs to have access to innovative financing mechanisms to promote female entrepreneurship in Senegal. In 2018, the Women's Investment Club Côte d'Ivoire was created with the same objectives and now has about 30 members.

Through its syndicated investment fund launched in 2019, WIC Capital, WIC supports the growth of high-potential companies led by SMEs and high-potential start-ups led by women in Senegal. WIC CAPITAL provides capital tailored to the financial needs of the company over a period of 6 to 7 years. Women-led businesses have access to funds that they would never have received through traditional financing mechanisms.

WIC launched the WIC Academy in 2020, complementary to WIC Capital which is a technical assistance and coaching structure perfectly adapted to the needs of the company. 

A cohort of 10 to 20 companies is selected following a competitive bidding process, business case reviews, and oral presentations to a panel of experts. The selected companies then receive personalized support for a period of 4 to 6 months on various topics related to the management of their companies but also WIC members volunteer their expertise and experience to each entrepreneur through a mentoring system of one to two hours per week for the duration of the program. 

Officially launched in 2020, the WIC Academy is a personalized technical assistance structure adapted to women entrepreneurs. Gender-based eligibility criteria (business led or founded by a woman), social impact and value chain strengthening are aligned with those of WIC Capital (the investment vehicle to which businesses will be directed following the capacity building process).

1. Shared Services Center: Today, a cohort of 08 pre-investment companies and 06 post-investment companies receive support in accounting and legal assistance, human resources, business coaching and business support, business strategy and personal development, business plan, marketing and sales strategy (ongoing) through a shared services center of carefully selected experts. 

    

2. Mentoring: Through mentoring by WIC members and personal development coaching, women build confidence and implement a personal performance plan that develops their emotional intelligence.

    

3. Personal Development: In the recommendations for overcoming barriers faced by women entrepreneurs, the use of psychology-based training to encourage women to develop their entrepreneurial spirit and assertiveness was highlighted.

From its conception to its implementation, WIC Academy has set itself apart from other business coaching programs by focusing on a precise identification of needs through interviews and internal/external diagnosis for each winning company in the program. This approach is widely praised by the beneficiaries of this cohort.

In addition to technical support, companies are prepared for investment through training and the definition of their business plans. These companies are first put in touch with WIC CAPITAL and then with other financial structures (investment funds, banks, etc.).

WIC Capital invests in a wide variety of sectors with a particular focus on the priority sectors of agriculture, tourism, industry, and also an interest in the education, technology and health/cosmetics sectors. WIC Capital has gained the confidence of institutional and individual investors with whom it co-invests via syndicates governed by a shareholders' agreement, which allows for risk sharing and mobilization of local capital. 

Unlike other programs, WIC Academy identifies needs through interviews and personalized diagnostics with women entrepreneurs. The data thus collected is used to classify the needs according to the company's key requirements. Thanks to a call for tenders and a careful selection process, experts are recruited and run the coaching program.