Botswana, Uganda and Ghana lead Africa in concentration of female entrepreneurs | The Guardian Nigeria News
• Nigeria emerges second in the world for female professionals and technicians
• Mastercard will connect 25 million women to the digital economy by 2025
Botswana, Uganda and Ghana lead other African countries with the highest concentration of female entrepreneurs.
This is contained in the Mastercard Index of Women Entrepreneurs (MIWE) 2021. For the third consecutive year, Botswana, with 38.5%, leads the other countries in the region, while Uganda (38.4% ) and Ghana (37.2%) follow.
The index benchmark is calculated as a percentage of the total number of business owners.
The latest is the fifth edition of MIWE, which highlights the important contributions of women entrepreneurs around the world, including in Africa, and provides insight into the factors that drive or hinder their advancement.
According to MIWE, in many African countries, the advancement of women is hindered by less favorable entrepreneurial conditions, lack of funding, fewer opportunities for higher level education as well as structural barriers. He pointed out that Botswana, however, is among the 15 countries with the most advanced outcomes for women, especially in terms of income.
Botswana also scores highly in MIWE’s 2021 “Female Labor Force Participation Rates”, ranking 13th in the world.
MIWE observed that although “the rate of female entrepreneurial activity has declined in most economies, a number of African countries have registered gains in this area, indicating a strong positive entrepreneurial response to the pandemic” . Nigeria, Angola, Ghana, South Africa and Botswana all performed well in ‘women’s entrepreneurial activity rate’ with Nigeria, Angola and Ghana ranking first. These activity rate rankings are despite the fact that in Nigeria and Angola, government support to SMEs ranks 62nd and 53rd respectively, while general access to finance ranks 61st and 63rd respectively.
Ghana scored slightly better on these metrics, ranking 44th for government support to SMEs and 37th for access to finance. Ghana is ranked sixth globally (69.7%) in terms of entrepreneurial attitudes and perceptions.
According to the ranking, in Nigeria and Angola, the entrepreneurial activity rate of women has exceeded that of men, even though women tend to be marginalized in terms of opportunities. Both economies display a strong and optimistic culture where there are perceived business opportunities.
These positive and healthy entrepreneurial attitudes reinforce women’s aspiration to become more financially independent, the report says.
MIWE informed that Nigeria also ranked second in the world for the number of professional and technical women with a score of 59.1%, while Angola ranked second in the world for intentions to hire with 16. .4% of adults planning to employ six or more people in the next five years.
In addition, Angola tops the global rankings for opportunity-driven women’s entrepreneurship and is sixth in terms of self-rated business capabilities.
Ebehijie Momoh, Country Manager and Area Business Head for West Africa at Mastercard, said women in Botswana, Uganda, Ghana, Nigeria and Angola stand out as prime examples of the determination of women to meet their needs and those of their families, despite financial, regulatory and technical difficulties. challenges. He said that in affected countries, women are able to take advantage of opportunities in their respective environments to become business owners, leaders and professional or technical workers.
The report says that in Malawi, a less affluent economy, women continue to defy the odds and make strong inroads in the business world despite socio-cultural barriers and infrastructural constraints such as lack of government support for SMEs, poor access limited to entrepreneurial finance and severe lack of educational opportunities. The gender gaps in the rate of entrepreneurial activity in Malawi are among the lowest globally.
Despite the challenges posed by the pandemic and economic downturn, Mastercard research indicates that women entrepreneurs in Africa are resilient and adaptable, especially those in low- and middle-income economies, often outpacing men in entrepreneurial activity.
The report highlights that entrepreneurship sees an opportunity every day to reinvent, refresh and reinvent itself – a key factor in the success of women in business long before the last crisis.
“Continuing to create the right social, political and financial understanding and conditions for this entrepreneurial spirit to succeed is of singular importance for future economic growth. Government policies that intentionally support female entrepreneurship can also contribute significantly to a faster and more balanced recovery.
MEANWHILE, as part of Mastercard’s commitment to creating a world where female entrepreneurs are equally represented and supported, the company has made a global commitment to connect 25 million female entrepreneurs to the digital economy by 2025. The company noted that not only will empowering female entrepreneurship act as a catalyst for growth and innovation, but it will elevate communities around successful women and fuel a recovery. fairer and more sustainable world for all.