Africa is a continent of entrepreneurs. A study by the African Development Bank (AfDB), the Organization for Economic Co-operation and Development (OECD), and the United Nations Development Program (UNDP) found that in 2017, 22% of Africa’s working-age population were starting or running new businesses – the highest entrepreneurship rate in the world.
For women, the number is even higher: 27 percent of Africa’s female adult population is engaged in early-stage entrepreneurial activities. This means that African women are twice as likely to start a business than women elsewhere in the world.
In Europe by contrast the rate of entrepreneurial activity among women is just 5.7%. In partnership with Stanford University and the Tony Elumelu Foundation released a comprehensive research that shows the variations between male and female entrepreneurs.
Where male entrepreneurs’ “profit” “growth” and “capital” are their main motivations while female entrepreneurs’ motivations leaned towards social impact via specific products, services and industries. Yet despite those high levels of entrepreneurial activities, African women are short of funding.
