Women entrepreneurs dominate Africa’s SME sector, despite a gender pay gap and the lack of access to finance that women face. However, ongoing initiatives are changing the scenario and empowering women to even greater heights.
Wide-reaching economic research conclusively reveals the high return on investing in opportunities for women in Africa.
The UN for example reports that women typically reinvest up to 90% of their income in the education, health and nutrition of their family and community. This compares with just 35% of such reinvestment by men and illustrates clearly that investment in women’s businesses helps transform African economies and its societies.
SMEs now account for over 80% of employment across Africa, where they have created a flourishing new middle class and fuelled strong demand for new goods and services.