Endowed with an instinct that has very often led to think that African women start businesses because they benefit more from the opportunity they are given rather than a necessity, these women have benefited over the years from their qualities to impose themselves in the pocketbook of entrepreneurship as a certain strength with which it will be necessary to compose. These qualities today represent an intrinsic strength that is clearly appreciated by the continent since they provide a glimpse of the privileged position African women occupy globally in the field, their ability to attract financing and investments, and their ability to excel by involving the least favored in the business of entrepreneurship.
The champions of the world of entrepreneurship
If there was a competition focused on women’s entrepreneurship in the world, the African continent is one that should surely be the first place. This statement is not unfounded since according to the latest study conducted on the subject for Women in Africa and published by the firm Rolland Berger, nearly 24% of African women of working age are involved in the creation of companies. This high rate of concentration purposely reflects not only the will, but also the capacity of women endowed with all the techniques of doing good and doing well on the continent. Despite the obstacles that stand in their way, Africans have enabled the continent to host the largest number of women entrepreneurs in the world. This number would not have been so important if Africans could not turn ideas into real opportunities. In comparison with the numbers and the capacity of implication observed on the continent, one realizes that the entrepreneurship would generate between 250 and 300 billion American dollars that is about 12 to 14% of the GDP of the continent.
With 600 million women entrepreneurs, Africa is the only region in the world with more entrepreneurs than others. Even though according to the study entitled “Women’s Entrepreneurship in Africa: A Path to Emancipation”, they face multiple obstacles that reduce their ability to create and run businesses such as legal barriers. African women have the highest rate of business creation in the world. They are well ahead of women entrepreneurs in Latin America with their rate of 17%, those of North America with 12%, or those of Europe and Central Asia which culminate at 8%.
A financing and investment incubator
‘’Women have fewer economic opportunities than men today in Africa’’, it’s a fact. But in reality, they are also much more applied and get much more success. It is this success that has led more and more entities to bet on African women to support the development of the continent. Some even have a logic of accompanying African women to significantly reduce the funding gap between women and men that now stands at just over $ 42 billion. From this perspective, it is not possible to rule the economic maxim that the more an entity is bankable the more likely it is to obtain financing to implement its investments.
African women entrepreneurship is part of the lineage of investments with high added value on the continent, it has then been able to benefit from significant investments over time, the latest of which is that to the tune of 251 million dollars to him granted by the leaders of the G7 during the last summit held in Biarritz, in the south-west of France, from 24 to 26 August. Aimed primarily at supporting the African Women’s Bank of Africa, Positive Action for Women’s Financing for Africa (AFAWA) initiative, this investment will unlock access to finance for women entrepreneurs and their families. To be economically autonomous was hailed by AfDB President Akinwumi Adesina, for whom investing in women’s entrepreneurship in Africa is a meaningful investment because women are not only the future of Africa, they are the present of Africa. The latter for illustrative purposes hold for example 30% of the SMEs of the continent while their margin of maneuver is still perfect.
A tool for surpassing and involving the less favored
African women entrepreneurs are the perfect example of doing good and doing well because they struggle every day with the lack of appropriate skills that stick to their skin every day. To encourage more women to become entrepreneurs, many of them have for example launched women’s literacy campaigns on the continent.
With the stumbling block of being able to broaden the range of women involved in the profession, many women who during their campaigns understood that they had real power that could be put to work to create and manage companies, even small businesses or SMEs. Many African women have also set up companies that specialize in the training of women entrepreneurs to combat this lack of skills. One of the best known of these is Nigeria’s Sandra Ajaja, with her company FemPower, which excels in the field of new technologies, has already trained more than 2,000 women in business creation and facilitated the creation of nearly 52 women-owned businesses in Nigeria, Kenya and Zambia.
Article from AFRIC Editorial
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