Introducing we-lab, an innovative platform dedicated to facilitating investments in micro-enterprises led by women in West Africa within the ECOWAS region. Despite substantial remittances of $46 billion to Sub-Saharan Africa and $62 billion to the Middle East and North Africa in 2018, many women-run businesses struggle to secure funding for sustainability and growth. Remittances primarily serve family support, leaving a shortage of accessible investment opportunities for small-scale ventures. We-lab bridges this gap by providing a reliable channel for the African diaspora to use remittances for tangible community impact.

The focus is on micro and small businesses led by African women, and the envisioned investors are members of the global African diaspora, many already engaged in traditional remittance practices. Recognizing the pivotal role of remittances in development, with $450 billion sent to developing economies in 2017 and $554 billion to low- and middle-income countries in 2019, we-lab seeks to redirect these funds to women-led enterprises crucial for regional sustainable development.

We-lab is a platform where women entrepreneurs register their enterprises, providing investors with essential business data for informed decisions. The received funds are reinvested in government-backed securities through local stock exchanges, ensuring capital preservation and impactful contributions to the community. We-lab aims to reshape the narrative surrounding remittances by intelligently investing in women-led businesses and fostering economic growth and empowerment in West Africa.