The growing trend of entrepreneurship within Africa has opened the way to new ideas and innovations in business structures and operations. These innovations are driving the socio-economic growth of the continent and breaking boundaries and stereotypes. This entrepreneurial revolution is countering the notion of limiting women as entrepreneurs.
Africa has one of the highest rates of women entrepreneurs in the world. These women entrepreneurs are reshaping the intra-African business space, utilizing the full potential of the African economy and breaking gender barriers in the business world. They embody a story of empowerment, resilience, and visionary leadership.
Women entrepreneurs in Africa are leveraging their unique perspectives and skills to drive business growth and foster cross-border trade. These women are setting new standards for innovation, collaboration, and economic growth across the continent, concentrating on the challenges facing small- and medium-scale enterprises.
When discussing female entrepreneurs in Africa, Folorunsho Alakija is a prominent figure. Mrs Alakija is a self-made Nigerian billionaire and philanthropist who began her journey in 1974 as a secretary, became a banker, switched to fashion, and settled in the oil industry. She was once the richest black woman in the world and has served as a role model to millions of female entrepreneurs in Africa today.
Another pace-setting entrepreneur in Africa is Kenya’s Njeri Rionge. Njeri Rionge is a pioneer investor in the IT sector. She co-founded Wananchi Online, East Africa’s first mass-market internet service provider and the region’s leading internet company. Rionge has a history of starting businesses since she was 19 years old, she has been in the food industry, fashion and health care system, creating jobs and pushing the socio-economic development of not only her country but the region as well.
Devine Ndhlukula is another pioneering female entrepreneur who tackled a male-dominated industry and has inspired countless women on the continent to pursue their dreams and seize opportunities. She is the founder and Managing Director of SECURICO, a security company she started in her cottage. Ndhlukula started Securico in the late 90s with four employees and very little capital and today it is one of the largest security firms in Zimbabwe, with over 3,500 employees.
These women entrepreneurs, apart from breaking stereotypes and borders, are utilizing technology as a powerful tool to bridge geographical divides and facilitate intra-African business. They access broader markets and connect with customers across the continent through E-commerce platforms, digital payments, and online marketplaces. This helps them navigate the traditional business structure of Africa where trade routes, economic and cultural barriers have impeded business growth.
Women in intra-African business have increased collaboration and networking among female entrepreneurs. African Women’s Entrepreneurship Program is an example of one of many forums that provide platforms for women to share experiences, exchange ideas, and forge partnerships.
The African Women’s Development Fund (AWDF) is the first pan-African foundation that supports the work of women’s rights organisations in Africa. It provides financial support and capacity-building resources to women-led enterprises. This empowers women entrepreneurs with tools and financial support to grow their businesses and contribute to regional economic growth.
Women entrepreneurs continue to face significant challenges that hamper the efforts that have been made by women over the years. Access to capital for funding their ventures is a major barrier and forces women-led businesses to struggle in the face of a very competitive business society. Societal norms and gender biases also limit the opportunities for women in traditionally male-dominated industries.
There needs to be increased efforts in creating awareness on gender disparities in entrepreneurship. To do this, concise efforts in policies and programs aimed at supporting women-led businesses are important. Governments, financial institutions, and international organizations needs to recognise the importance of investing in women entrepreneurs to drive sustainable economic development.
The vision and tenacity of women entrepreneurs is increasingly shaping the future of Intra-African businesses. These entrepreneurs are instrumental in unlocking the continent’s full potential and their leadership, innovation, and resilience will pave the way to a new era of intra-African business
