Female Entrepreneurs are increasing in Africa!
According to the Worldometers, Africa population has a total of 1,308,064,195, being 50% female. Most of African countries has a 103 to 106 male births to 100 female births. Africa is also the only region in the world where more women than men choose to become entrepreneurs. A great example of this was Ghana being one of the top performing African countries highlighted in the 2018 Index of Women’s Entrepreneurship (MIWE), having 46.4 percent of businesses in Ghana owned by women.
On the surface, sub-Saharan Africa boasts the world’s highest rate of women entrepreneurs, at 27%. The MasterCard Index of Women Entrepreneurs 2017 listed two African countries, Uganda (34.8%) and Botswana (34.6%), as having the highest percentage of women entrepreneurs globally.MIWE 2017
In Africa, female entrepreneurs tend to confine themselves to the traditionally female sectors not because of a lack of skills or access to capital, but rather a lack of capital and social factors. A study conducted in Uganda indicates that women who, during their youth, had male mentors who encouraged them to consider sectors reserved for men are more inclined to make a foray into these sectors. In Guinea and the Republic of Congo, programs that encourage women to transition toward traditionally male-dominated sectors by providing them with appropriate information and mentoring programs, among others, are being tested.
Top Successful Women in Business Statistics by Small Biz Genius
- Four out of every 10 businesses in the United States are owned by women.
- In the Middle East, fewer than 10% of companies are owned by women.
- Ghana has the highest percentage of women-owned businesses: 46.4%.
- The number of women-owned businesses in the United States increased 31 years out of 46 between 1972 and 2018, growing from 402,000 to 12.3 million.
- Women who own small businesses are 43% more likely than men to be concerned about a limited access to money affecting their companies.
- Woman-led businesses receive less venture capital. One reason may be that only 9% of VCs are women.
- In 2017, women of color accounted for 71% of new female-owned business launches.
- The most male-dominated industries are construction (90% men to 10% women) and high-tech manufacturing (87% to 13%).
- Source: https://www.smallbizgenius.net/by-the-numbers/women-in-business-statistics/#gref
Ghana is on top, with 46.4 per cent of businesses in the country owned by women.Mastercard Index of Women Entrepreneurs, 2019.
In general, the sectors that are mostly dominated by women are: Health Care, Education, Non-Profit, Human Resources and Customer Service. There is a surge in female business entrepreneurship. The 2018 American Express economic study ‘State of Women-Owned Businesses Report’, presented an exciting picture of the rise in female business ownership. It reported that in the US there are almost 2,000 new businesses being founded by women each day and that women now own around 40% of businesses overall.
However, TechCrunch reports that only 17% of all business startups have a female founder, and that proportion has not grown significantly over the past 6 years. These numbers show a great need for women to seek their places in the technology industry, especially with online business. Statistics show how people are more connected each year and how business in these areas will be promising. Sales for eCommerce in 2018 came in at $2.842 billion and it’s estimated that by the year 2040, 95% of purchases will be through eCommerce.
Women-led tech startups on the rise in Africa
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