How female-led start-ups can transform Africa
Women make up 58% of Africa's self-employed population and contribute around 13% of the continent's GDP.
Until gender parity is improved throughout the African continent, female entrepreneurs will remain under-earning compared with their male counterparts.
Governments and policymakers can support women entrepreneurs and female led startups in Africa through targeted policies including gender-responsive budgeting and utilizing the African Continental Free Trade Agreement.
Sub-Saharan Africa, in particular, has the world’s highest rate of women involved in entrepreneurial activity at 26%. According to the MasterCard Index of Women Entrepreneurs (MIWE) 2021, Botswana, South Africa and Ghana are among the countries with the highest percentage of women entrepreneurs globally.( We Forum, 2022)
This reveal has profound implications. Female led startups in Africa and beyond are not only as profitable (if not more) than male led startups but more likely to drive women’s empowerment and make a positive social impact on the continent. That said, the gender gap in Africa may not be closing anytime soon in light of the numerous challenges women entrepreneurs face around funding their businesses.
Enterprise development is a crucial engine of economic growth and jobs creation. Without entrepreneurship, there would be little innovation, little productivity growth, and few new jobs.1 Over three-quarters of the African population believe that entrepreneurs are admired in their societies. Entrepreneurship is also seen by 76% of Africans as a good career choice. This is the highest rate in the world.2 Advancing gender equality is smart economics, sound business practice, and essential development policy. When women and men have equal opportunities to shape their own lives and contribute to their families, communities, and countries, it leads to enhanced productivity, improved development outcomes, and better performance by businesses and institutions.3 The countries in sub-Saharan Africa (referred to as Africa in this report) have already made significant progress in fostering the economic empowerment of women and girls. Women in Africa are more likely to be working than women in other regions, and almost 50% of women in the non-agricultural labor force are entrepreneurs. It is the only region in which women are more likely to be entrepreneurs than men.
A good example of that is Bonang Dorothy Matheba . She represents “The new look of entrepreneurship” as one of the successful Millenials on the Feb/March 2016 issue of Forbes Africa, alongside Aisha Pandor, Thato Kgatlhanye and Claire Reid.
( Forbes, 2016)
Who is this #remarkablewoman ?
Bonang Dorothy Matheba (born 25 June 1987), is a South African television presenter, radio personality, businesswoman, producer, model and philanthropist. Born in Mahikeng, North West, she is known for her flamboyant presenting skills and her signature voice. She presented the SABC 1 music show LIVE (now Live Amp) which built her spotlight in the industry. She is also known for being the first Black South African to be featured on numerous magazines.
The House of BNG
On 18 March 2019, Matheba exclusively partnered with Woolworths in launching a range of luxury Méthode Cap Classique (MCC) called, "The House of BNG".. The venture made her the first black woman to be added to the Méthode Cap Classique Association.
Pic by Clarke Sanders
"House of BNG: Bonang Matheba launches her own MCC range". The South African. 18 March 2019.
^ "3 things you should know about Bonang's latest venture House of BNG". Destiny Connect. Archived from the original on 27 March 2019. Retrieved 19 March 2019.
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