Across Africa, the percentage of female entrepreneurs remains low, highlighting a critical gap in the continent’s entrepreneurship landscape. A 2024 global gender gap report by the World Economic Forum revealed that economies in Sub-Saharan Africa have just a 9.4 percent gender parity score, as opposed to countries like Iceland and Finland, which have 93.5 percent and 87.5 percent, respectively. African women entrepreneurs operate at a staggeringly low level of 25.9 percent and earn less than their male counterparts.
Many factors are associated with African women’s low participation in entrepreneurship. Factors like lack of access to business tools, growth of informal businesses against formal businesses, and limited market access contribute to the poor participation of women in cross-border trading. The African Continental Free Trade Area (AfCFTA) presents an opportunity for economic growth through equal opportunities for women entrepreneurs. The agreement can boost women’s participation in business through cross-border trading, reduced tariff systems, and formalization of the informal business sector.
To read more, check the full article on The Guardian.
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