The report draws on BCG’s Africa Women’s Voices Survey 2025, which surveyed around 3,000 women and men across six major African economies – South Africa, Nigeria, Ethiopia, Kenya, Morocco and Egypt – alongside data from the WEF Global Gender Gap Report 2025 and Africa’s startup funding landscape.

The Setback in Numbers

Africa’s post-COVID economic recovery has been slow and uneven. Between 2021 and 2024, GDP per capita on the continent grew at just 1.2% annually, less than half the global average of 2.5%. With 70% of women concentrated in vulnerable, informal employment, they have disproportionately borne the brunt of this regression.

The survey findings paint a troubling picture beyond the economic data. Since 2023, attitudes toward gender equality have deteriorated across the region, and not only among men. Women themselves are now less likely to support equal pay, financial autonomy and equal access to education, pointing to a deepening of internalised discrimination. Concerns about gender-based violence (cited by 61% of women surveyed) and access to economic opportunities (36%) have both intensified.

“What makes this data particularly concerning is that the regression is not limited to structural barriers. When we see women, themselves becoming less likely to advocate for their own economic rights, it signals how deeply these setbacks are being felt at a social level,” said Zineb Sqalli, Managing Director and Partner at BCG and global lead for Gender Equality and Women Empowerment. “The window for intervention is narrowing.”

Digital Entrepreneurship: A Growing Lifeline

Against this backdrop, digital entrepreneurship is emerging as one of the most practical routes to economic inclusion for African women.

According to the BCG survey, 66% of women across the six countries aspire to run their own business, with that figure exceeding 80% in both Nigeria and Kenya.

One in five women surveyed already runs an online business, and two-thirds are considering starting one; outpacing men in digital business ambition.

The appeal is practical. Women who run their businesses from home, reduce their exposure to unsafe commutes and workplaces while managing household responsibilities.

Digital platforms like Facebook Marketplace and Jumia report that 40 to 50% of their sellers in African countries are women. In Uganda, mobile loans have lifted women entrepreneurs’ profits by 15% and their assets by 11% within just eight months.

The Funding Gap That Holds Women Back

Despite this potential, the financing environment for women-led businesses remains deeply unequal. Women-led startups attracted less than 1% of total venture capital funding in Africa in 2024, resulting in a $2.5 billion funding gap relative to male-founded startups over the past five years.

Women do receive approximately 52% of Africa’s grant funding, but an over-reliance on grants limits the development of scalable, investment-ready businesses.

The performance gap makes the funding gap harder to justify. Female-founded ventures generate twice the revenue per dollar invested and achieve 10% higher long-term growth than their male-led counterparts.

The barriers run across the entire investment chain: male-dominated evaluation teams, a perception that women-led startups are “too early” or “too risky,” fund timelines misaligned with how women-led businesses actually grow, and the fact that 46% of women founders do not know which investors to approach.

“Women entrepreneurs in Africa are building businesses that solve real problems in health, education, retail and agriculture – sectors that are deeply connected to community needs. They are outperforming on the metrics that matter. The issue is not the quality of their ventures; it is that the investment ecosystem was not built with them in mind,” said Vishakha Chopra, Project Leader in BCG’s Johannesburg office.

What Needs to Change

The report calls for a shift away from the conventional VC model toward financing approaches better matched to how women-led businesses actually operate.

Specific recommendations include offering smaller ticket sizes of $50,000 to $100,000 that align with early-stage dynamics, designing blended financing instruments such as convertible notes and revenue-based financing, and pairing capital with non-financial support including investor networks, financial education and accelerator partnerships.

Development Finance Institutions (DFIs) are identified as critical enablers, with the report urging them to deploy first-loss capital, channel grants toward gender-lens VC funds, and partner with local financial institutions to expand debt access for women entrepreneurs.

The report notes that governments also have a huge role to play. 45% of women surveyed lack regular internet access, mainly due to cost. Addressing connectivity affordability is, the authors argue, as important as addressing the funding gap itself.

To read the full report, use this link.

What many people don’t realize, however, is that gaming isn’t just a form of entertainment anymore. It’s quietly becoming a launchpad for local tech innovation and a new wave of digital entrepreneurship.

Nigeria’s youth, creative, restless, and tech-savvy, are discovering opportunities beyond simply playing or betting.

They are designing, coding, marketing, and building businesses around gaming. From mobile app developers to data analysts, digital artists, and payment innovators, young Nigerians are carving out new spaces in an industry that is no longer just about luck, but about skill, technology, and local content creation.

At its core, this shift is about ownership. For too long, the Nigerian gaming ecosystem has depended on imported technologies, foreign platforms, offshore servers, and international software solutions.

While these tools have powered growth, they have also limited how much value stays within the local economy. But the tide is turning.

A new generation of Nigerian tech entrepreneurs is stepping up to build homegrown solutions that understand local players, local payment systems, and local regulations.

Some are developing indigenous gaming software with culturally relevant themes, games inspired by Nigerian folklore, street life, or popular sports leagues.

Others are creating platforms for responsible betting that incorporate local language interfaces and regional customer support. A few are even experimenting with blockchain-backed transparency tools to make gaming fairer and more traceable.

This wave of innovation reflects a broader truth: when young people are empowered to build, they create products that speak the language of their environment. And in the process, they build industries that last.

Government regulators and private sector players are beginning to recognize this, as there is growing awareness that local content development must be central to the next phase of gaming growth.

Nigeria cannot rely indefinitely on imported systems to regulate, operate, and profit from its gaming ecosystem.

Encouragingly, new policies and startup incentives are emerging to support local gaming tech entrepreneurs, from incubator programs to partnerships with fintechs and telcos.

Access to APIs, affordable cloud infrastructure, and improved data analytics tools are making it easier for small teams to compete with international platforms.

But beyond policy, mindset remains key. The youth must see gaming not just as a pastime or quick win, but as a serious avenue for building scalable digital businesses.

The same energy driving innovation in fintech can be replicated in gaming tech, where creativity meets commerce, and entertainment meets data.

There’s also a powerful social angle to this. Locally developed gaming technologies can help tell African stories, promote responsible gaming habits, and ensure that profits circulate within local communities instead of flowing offshore.

The next generation of Nigerian gaming entrepreneurs isn’t just coding for fun; they’re coding for the future. And with the right mix of mentorship, funding, and policy support, Nigeria could soon become not just a major gaming market, but a global hub for gaming technology.

As one young developer recently said, “We grew up playing global games. Now, it’s time the world starts playing ours.”

That, truly, is the spirit of Youthplay, a story of innovation, creativity, and local ownership that’s only just beginning.

The newly elected representatives, Iyinoluwa Aboyeji (South West), Charles Uchenna Emembolu (South East), Abba Ibrahim Gamawa (North East), and Victoria Ojoagefu Manya (North Central), will bring the perspectives of founders, innovators, and digital entrepreneurs directly into policy discussions that shape the country’s startup sector.

The election, coordinated by the Office for Nigerian Digital Innovation (ONDI) under the National Information Technology Development Agency (NITDA), followed a transparent nomination and voting process involving members of the Startup Consultative Forum from all six geopolitical zones. 

The Forum was inaugurated earlier in 2025 to ensure that the startup ecosystem had a voice in government-led innovation policymaking.

The NCDIE, created under the Nigeria Startup Act, serves as the main governance body responsible for driving the country’s innovation and entrepreneurship agenda. It brings together representatives from the private sector, government, academia, and investors to oversee and coordinate the Act’s implementation. 

For the first time, elected startup founders are joining the NCDIE Council, revealing a goal to boost inclusive governance and stronger collaboration between policymakers and the innovation community.

This development is seen as an important milestone in bridging the gap between Nigeria’s startup sector and government institutions. With direct representation, founders can now contribute meaningfully to conversations around policy design, funding structures, and innovation support frameworks. 

It also reflects the government’s commitment to engage the private sector in shaping Nigeria’s digital future.

According to NITDA, the inclusion of startup representatives “underscores the commitment of ONDI and NITDA to strengthening collaboration among government, innovators, and industry stakeholders.” The agency reaffirmed its resolve to “build a thriving digital economy, nurture startups, and foster the type of collaboration that ensures innovation becomes a cornerstone of national development.”

The new Council is expected to effectively integrate startup perspectives into national strategies and ensure the collaboration influences long-term growth in the tech sector. 

The election has already been commended by experts as a positive indication that Nigeria’s innovation policy is beginning to reflect the voices of those driving real change from the ground up.

Entrepreneurship journeys are not always the same for everyone, as they can be influenced by various factors such as their interactions with digital technology, commercial networks, and financial services.

These experiences are not immune to gender-based effects either; access to digital tools, commercial resources, and financial literacy can impact the opportunities and challenges that arise as individuals (both men and women), pursue entrepreneurship.

In some ways, digital entrepreneurship, as a by-product of fintech solutions, has emerged as a key enabler of financial inclusion for women.

In recent times, there has been a remarkable upsurge in digital entrepreneurship, and women have been leading this trend.

This is because it has opened up new business opportunities, leading to increased economic participation by women.

With increased access to digital technology and financial services, women are overcoming barriers and developing innovative solutions to tackle societal challenges.

The more access they have to digital technology and financial services, the more barriers are being broken down.

These digital financial services, including mobile banking, online lending, and crowdfunding platforms, have allowed women to access financing and expand their businesses without facing the conventional obstacles of gender bias and limited networks.

However, despite the significant progress made in recent years, women continue to face significant barriers to accessing digital entrepreneurship opportunities and financial services. These issues are often multifaceted, cutting across several challenges including under-representation, limited access to finance, lack of digital skills, and discriminatory legal and cultural norms.

A study by the International Finance Corporation (IFC) found that women entrepreneurs face a $1.5 trillion credit gap globally, with only 16% of women entrepreneurs in developing countries able to access the credit they need to grow their businesses.

Let’s explore what strategies can be employed to address these challenges, and who the critical stakeholders required to implement them effectively are?

Closing the Gender Divide in Digital Entrepreneurship and Financial Inclusion Together

The gender divide in digital entrepreneurship and financial inclusion is a complex issue that requires a multifaceted approach.

The focus needs to evolve from finding generic solutions to addressing the unique requirements of specific communities. One such approach is through education.

Women face greater obstacles as they progress to higher levels of education, particularly in Sub-Saharan Africa, leading many to pursue informal ambitions.

As a result, women are disadvantaged in income-earning opportunities and are more likely to experience unemployment, informal employment, or lower-paying jobs than men. Education however serves as a tool for enlightenment demonstrating that providing access to resources and training schemes can transform women’s participation in economic activities.

For instance, in 2021, the United Nations Educational, Scientific and Cultural Organization (UNESCO) collaborated with the Women in Africa Initiative (WIA) to offer online courses targeted at promoting African women’s digital entrepreneurship and digital literacy in the field of Artificial Intelligence.

Addressing cultural barriers that limit women’s access to digital entrepreneurship and financial services is also critical.

This ranges from challenging gender stereotypes, increasing women’s representation in leadership positions, and promoting women’s economic empowerment at the policy level. Additionally, encouraging gender-disaggregated data collection is essential for understanding the needs and experiences of women in digital entrepreneurship and financial inclusion.

This can help identify gaps and barriers and inform the design and implementation of policies and programs to foster the development of digital entrepreneurship and financial inclusion for women.

The African Gender Data Book published by the African Development Bank Group (AFDB) in 2019 is a great example.

It provided the AFDB regional member-states with gender-specific data collection tools that can ultimately aid the development of government policies that foster women’s empowerment and financial inclusion.

Facilitating purposeful and results-driven partnerships or collaborations among various stakeholders namely governments, financial institutions, non-governmental organizations (NGOs), the private sector, and civil society is an immense contribution to bridging the gender gap.

Collaboration between various individuals and entities is crucial in bringing about the necessary institutional changes.

Ultimately, the promotion of positive representation involves building more inclusive spaces and engaging with authentic voices that truly represent the underserved community.

Many companies are recognizing the importance of this and are actively working towards creating more authentic and representative environments for women entrepreneurs. This is just the beginning of greater things to come.

Margrethe Vestager, the Executive Vice President of the European Union disclosed this today Monday, 14th February 2022 during a working visit to Professor Isa Ali Ibrahim (Pantami), the Minister of Communications and Digital Economy, at the Digital Economy Complex in Abuja.

According to Uwa Suleiman, spokesperson to Pantami, Vestager while extolling the exemplary leadership style of the Minister, noted that the need for stronger partnerships has brought global attention to the country’s Digital Economy sector.

She enumerated the Union’s intervention in the sector to include; Digital Infrastructure Investments, Digitalisation of Public Services, Digital Entrepreneurship, Digital Skills and Digital Governance.

“Nigeria has immense potential for digitalization and  with a combination of One Hundred and Sixty Million Euros in grants and Six Hundred and Sixty Million Euros in loans, the European Union aims to comprehensively support Nigeria’s digitalization strategy” she emphasized.

In his response, Pantami while expressing his delight and appreciation for the intervention reiterated the Federal Government’s willingness to partner with the European Union. “Africa has always looked up to Europe in the area of technological advancements and this partnership is a welcome development that will project the digitalization aspirations of our country.

Pantami was particular about digital entrepreneurship and the immense impact it will bring to bear on the nation’s economy.

“This partnership with regards to digital entrepreneurship, will address the challenge of unemployment and un-employability alongside the Nigeria Startup Bill which also aims to address a myriad of issues within the ecosystem.”

The Minister further informed the delegation that Nigeria hopes to achieve the paperless office by the year 2030 and it is on track, taking into cognizance the rate at which public institutions are embracing the digital economy drive.

The European Union intervention is in alignment with the Nigeria Digital Economy Policy and Strategy (NDEPS), a digital roadmap initiated and championed by Pantami towards the economic digitalization drive of President Muhammadu Buhari (GCFR).