Even when companies with mixed-gender founding teams are included, startups involving women attracted just over 12% of global venture funding.

These are still among the most striking imbalances in the global startup economy.

But the funding gap doesn’t reveal the lot happening across sectors such as finance, healthcare, artificial intelligence, mobility and digital commerce. Women entrepreneurs are building companies that address everyday problems, including saving money, accessing diagnostics, paying school fees or commuting to work. 

Many of these businesses are growing quietly but steadily, creating new markets and improving access to essential services.

As the world marks International Women’s Day (IWD 2026), the economic focus has gone beyond asking if women are entering business, but where they are touching and bolstering entire sectors.

Fintech: expanding access to money

Financial technology has become one of the most visible areas where women are building scalable companies.

In Nigeria, PiggyVest, co-founded by Odunayo Eweniyi, has grown into one of the country’s most widely used savings and investment platforms. The service allows users to automate savings and invest small amounts through a mobile app. For many youths, it has become a simple entry point into personal finance.

Eweniyi is also a co-founder of FirstCheck Africa, an investment fund created to provide early-stage funding for female-led technology startups across the continent.

Another Nigerian fintech platform attracting attention is Bamboo, where Yanmo Omorogbe serves as co-founder and chief operating officer. Bamboo allows Nigerians to buy and trade U.S. stocks directly from their phones, a service that has received strong demand from young investors seeking exposure to global markets.

Elsewhere on the continent, women are building platforms focused on financial inclusion.

Shecluded, founded by Ifeoma Uddoh, provides loans and financial training to female entrepreneurs. The platform supports women who usually find access to credit from traditional banks difficult.

Another example is Hervest, founded by Solape Akinpelu, which offers savings and investment products designed specifically for African women, including smallholder farmers.

At the grassroots level, social enterprise Mamamoni, created by Nkem Okocha, provides microloans and vocational training for women in low-income communities.

Taken together, these platforms illustrate how fintech innovation in Africa is addressing financial behaviour such as saving, investing and accessing credit, rather than simply digitising traditional banking.

Health technology: solving long-ignored healthcare gaps

Healthcare is another sector where women entrepreneurs are building companies around problems that were usually overlooked by traditional investors.

In Nigeria, Healthtracka, founded by Ifeoluwa Dare‑Johnson, allows users to book laboratory tests online and receive diagnostic results digitally. The company raised $1.5 million in seed funding to expand its services across Africa. 

Simplifying access to diagnostics, Healthtracka is tackling one of the toughest gaps in African healthcare systems.

Another Nigerian startup in the space is Clafiya, founded by Jennie Nwokoye. The platform connects patients with verified healthcare providers, offering digital access to medical consultations and services.

Pharmaceutical access is being addressed by Pharmarun, founded by Teniola Adedeji, which helps people locate and finance prescription medications across African markets.

Meanwhile, One Health, founded by Adeola Alli, is building a mobile-first platform that simplifies pharmacy services and access to primary healthcare.

Globally, women founders are also building large digital health companies.

U.S. platform Maven Clinic, founded by Katherine Ryder, provides virtual care services covering pregnancy, fertility and family health. The company has reached a valuation above $1 billion.

Another fast-growing health company is Kindbody, founded by physician Gina Bartasi, which operates fertility clinics and digital reproductive health platforms.

These businesses show how women founders are turning neglected healthcare challenges into scalable technology markets.

Enterprise software and artificial intelligence

The technology sector is male-dominated, particularly in enterprise software and artificial intelligence. But then several women entrepreneurs have built companies at the centre of the digital economy.

One of the most interesting examples is Canva, co-founded by Melanie Perkins. The platform has grown into one of the world’s most widely used design tools, serving more than 150 million users globally.

Another example from the AI sector is Scale AI, co-founded by Lucy Guo, which provides data infrastructure used to train artificial intelligence systems.

These companies operate deep inside the digital economy, building the tools and infrastructure that other businesses rely on.

Mobility and urban transport

Women founders are also addressing everyday urban problems, particularly transportation in fast-growing cities.

In Nigeria, Shuttlers, founded by Damilola Olokesusi, operates a scheduled bus-sharing platform designed to reduce commuting stress in cities such as Lagos. 

The company allows users to book bus seats through a mobile app and has raised more than $5 million in funding to expand its operations.

Urban mobility is one of the biggest challenges in rapidly expanding African cities. Platforms like Shuttlers provide structured alternatives to chaotic public transport systems.

Logistics and cross-border commerce

eCommerce is expanding across Africa, and logistics startups are becoming more important.

Sendsprint, founded by Damisi Busari, focuses on simplifying cross-border remittances and international payments.

Meanwhile, Fez Delivery, founded by Seun Alley, is building last-mile delivery infrastructure for businesses and consumers across African cities.

Logistics companies like these are the backbone of digital commerce, connecting online marketplaces to physical deliveries.

Education technology and financial literacy

Education financing is another area where women founders are developing new solutions.

Schoolable, co-founded by Angela Essien, provides financing tools that allow families and schools to spread tuition payments over time. The company has also developed digital tools that teach financial literacy to students.

Across many African countries, school fees sometimes limit education. Flexible financing platforms like Schoolable are attempting to solve that problem.

The funding paradox

Looking beyond these good works, women founders still receive a small share of venture capital.

Data from the Global Entrepreneurship Monitor shows that women are launching businesses at rates close to men in many parts of the world.

However, access to capital is uneven. Across Africa, female-founded startups raised about $256 million in venture funding in 2025, representing 10% of the continent’s total equity investment, according to research from Partech Partners.

Part of the explanation is within the investment industry itself. Women still hold fewer than one-fifth of senior roles in venture capital firms globally.

Investment networks usually affect who receives funding, and those networks are dominated by men.

The industries women may transform next

Several emerging sectors could see stronger participation from women entrepreneurs in the coming years.

Artificial intelligence applications in healthcare and education are expanding, and climate technology, covering renewable energy, environmental monitoring and sustainable agriculture, is also attracting attention.

Another fast-growing field is the care economy, which includes childcare services, elder care and home healthcare.

With populations ageing and cities expanding, these sectors are likely to become indispensable to the global economy.

A change already underway

The venture capital gap is real and women founders still receive a small share of global startup investment.

But the companies they are building are doing exploits, solving problems that affect millions of people.

The change may not always be broadcasted, but across multiple industries, it is already enhancing markets.

Women are not simply joining the startup economy, but are helping determine what it becomes.

The closing event, held on February 5, 2026, at the Lagos Continental Hotel, Victoria Island, marked the end of a year-long pilot that supported 100 women-led businesses from 23 countries. 

Backed by the International Finance Corporation (IFC) and the World Bank, in partnership with ASR Africa, women-led businesses in the first cohort mobilised more than $4 million in financing. 

Seventeen startups secured external funding, exceeding the original target set at the start of the program.

Founders from different stages, including early-stage startups and more established companies, participated in the first cohort.

Support focused on technical training, business coaching, mentorship and direct introductions to investors, with founders receiving over 120 hours of targeted technical support, more than 270 investor connections were facilitated, and about 100 mentors were involved across the continent. 

A smaller group of startups received additional advisory support beyond the standard training structure.

Speaking at the event, Marieme Niang Camara, IFC’s regional gender lead for Africa, said the pilot provided enough results to justify expansion.

“When we started with 100 women entrepreneurs, it was a successful pilot, but we realised that 100 is just the beginning for a region like Africa,” she said. 

“Now we’re moving from 100 to 1,000, and we’re doing it strategically through segmentation, from startups to growth-stage and scale-up companies.”

The initiative, built on readiness, focused on gaps faced by women founders, especially at the point where businesses move from early traction to engaging investors.

She Wins Africa leveraged catalytic grants of about $100,000 to reduce risk for private investors and this helped attract nearly $400,000 in follow-on investment from regional partners, including Octerra Capital, IMEX, Sahel Capital and Nubia Capital.

ASR Africa’s Managing Director and Chief Executive Officer, Dr Ubon Udoh, said the expansion reveals lessons from the first phase.

“We’re scaling up from the first phase of 100 women from 23 countries to 1,000 women across Africa,” he said. “This expansion will create more sustainable impact and extend the program’s geographical reach.”

Several founders shared their experiences at the closing event, revealing how the programme helped their business move from operating locally to preparing for cross-border growth, while improving internal planning and investor readiness. 

Mentorship and investor exposure also changed how they negotiated and positioned their company.

The next phase will prioritise businesses that are ready to scale, while still supporting early-stage founders. The expansion is the first of four projects planned under the She Wins Africa platform.

IFC noted that the programme aligns with its focus on private sector growth and women’s economic participation across Africa. 

ASR Africa, on the other hand, will continue to support the initiative as part of its work in economic and social development on the continent.

The closing event formally closed the pilot phase, but partners said the focus now shifts to onboarding a much larger group of women entrepreneurs and building on the results already recorded.

The programmes are open, competitive, and fully merit-based, targeting ambitious Africans who are building businesses or have scalable business ideas capable of creating jobs and driving sustainable economic growth.

They are:

1. Tony Elumelu Foundation Entrepreneurship Programme (Pan-African)
2. Aguka Ideation Programme (Rwanda – Youth-Focused)
3. IYBA-WE4A Programme (Women-Led Green Businesses)

The flagship Tony Elumelu Foundation Entrepreneurship Programme is open to entrepreneurs from all 54 African countries, across every sector.

Successful applicants will receive:

• US$5,000 non-refundable seed capital
• World-class business training
• Dedicated mentorship
• Lifetime access to TEFConnect
• Entry into Africa’s largest entrepreneurship ecosystem

Since its launch in 2015, the programme has funded over 24,000 entrepreneurs, trained 2.5 million Africans, helped create 1.5 million jobs, and generated US$4.2 billion in revenue across the continent.

Application deadline: March 25, 2026

Aguka Ideation Programme (Rwanda – Youth-Focused)

The Aguka Ideation Programme is a youth-focused initiative in Rwanda, delivered in partnership with UNDP, the European Union, and the Rwandan Ministry of Youth and Arts.

The programme supports young Rwandans with:

• Entrepreneurship training
• Expert mentorship
• US$3,000 seed capital
• Business development support and pitching opportunities

The initiative is designed to help youth-led ideas evolve into sustainable and scalable enterprises.

Application deadline: January 10, 2026

IYBA-WE4A Programme (Women-Led Green Businesses)

The IYBA-WE4A Programme is a multi-partner initiative supporting women entrepreneurs building businesses in green and sustainable sectors across selected African countries.

Selected entrepreneurs will receive:

• US$5,000 seed capital
• Tailored business and green-enterprise training
• Mentorship and investment-readiness support
• Lifetime access to TEFConnect

The programme focuses on sectors such as sustainable agriculture, renewable energy, circular economy, eco-tourism, and other environmentally focused industries.

Application deadline: January 25, 2026

Each programme is designed to provide African entrepreneurs with practical tools, catalytic capital, and long-term networks to build businesses that generate jobs and deliver lasting impact.

The Tony Elumelu Foundation encourages stakeholders to share this opportunity widely with aspiring entrepreneurs, universities, incubators, innovation hubs, youth networks, and women-led business communities across Africa.

To apply for each of the opportunities, visit here.

Like the Aurora Tech Award itself, the bootcamp selection emphasized innovation, scalability, and social impact, preparing Nigerian founders not just for local growth, but for success on the global stage.

With strategic support and partnership of InDrive’s Aurora Tech Award, The Nest Innovation and Technology Park together with a curated cohort of visionary women from diverse sectors including technology, fashion, agriculture, health, and education engaged the ladies in immersive workshops, mentorship sessions, pitch training, and access to funding opportunities, all tailored to address the unique challenges faced by women in business.

“From storytelling to structure, every session reshaped how I think about building and communicating as a founder, left me with a clear truth: as founders, our stories, systems, and structures must work together that’s how we build ventures that inspire belief and attract opportunity” says Bootcamp participant Edwina Abah

“Can’t wait to share more insights soon there’s so much more for founders to learn from this journey. Shoutout to the amazing women I’m learning and building alongside. Huge thanks to Aurora Tech Award and The Nest Innovation Technology Park Ltd for curating this experience, and to every brilliant woman in this cohort building with courage and vision”.

“The past few days have been empowering, educational, and exciting.

There was so much strength in community, and so much real value gained from learning how to pitch and communicate our message, to developing fundraising strategies, refining personal branding, and positioning ourselves for growth.

A huge thank you to all the incredible speakers and organisers who made this experience so impactful” effuses Zusi Inegbeniki, Founder of FoundexAI and participant in the bootcamp.

A two-week post-program mentorship- with doyennes like  Folake Owodunni, Founder of Emergency Response Africa, who famoulsy responded “I rarely focus on it because I don’t have the time. I’m just trying to make things work.” when asked about biases and prejudice- follows the bootcamp.

However, it’s from this chaos that commendable stories emerge, like that of Ramatallahi Abubakar, a Nigerian-born fashion designer now reshaping her destiny in Bradford, West Yorkshire, UK.

Ramatallahi Abubakar, founder of Ramatporsche Design, is proof that global ambition doesn’t need a billion-dollar budget. Her struggle was a familiar one, how do you balance a burning creative vision with the ruthless mathematics of running a business? For her, the answer was to take the hustle online.

“I realised early on that fashion was my calling, it allows me to tell stories through fabric,” she says. “I use bold colours, intricate lace, and flowing silhouettes inspired by African culture, but I merge them with modern, minimalist touches.”

Her journey started far from the polished studios of Europe. While studying Medical Science at Kwara State University, she stitched her department’s lab coats. By 2020, she was crowned Student Fashion Designer of the Year, and a year later, she was already showcasing her work at the Kwara Tradefair.

Today, Ramatallahi juggles motherhood, a thriving business, and sewing classes for beginners in Bradford, where she now calls home. But passion alone does not pay rent or buy fabric. She quickly learnt that the art of design was only half the battle, the other half was balancing creativity with cost management.

“The challenge is balancing creativity with the business side,” she explains, “especially managing costs and deadlines.”

That was when she stumbled across Temu, the online shopping platform that changed everything. From sewing needles to pattern paper and mannequins, she could source essentials at a fraction of the price.

“My mannequin from Temu was a game-changer,” she says. “It saved me from constant back-and-forth fittings and allowed me to perfect designs much faster. The quality is outstanding — sturdy, durable, and perfect for fittings. I was so excited when it arrived that I dressed it in one of my gowns and shared photos with friends — they all wanted the link!”

By her estimate, Temu saves her between 40–50% compared to local stores. That kind of saving doesn’t just help her; it makes her creations more accessible to her clients. And this Nigerian fashion designer isn’t alone. 

A recent IPSOS survey commissioned by Temu found that shoppers save an average of 24%, with 8 in 10 saying the platform offers excellent or good value for money.

But for Ramatallahi, it’s never just been about personal gain. She’s intentional about paying it forward. Through her 12-week sewing classes, she teaches beginners to cut and sew outfits using tools often sourced from Temu, including sketchbooks, pattern papers, and more. For her, empowering others is just as important as seeing her own designs on display.

Her advice this World Entrepreneur Day? “Start with what you have, keep learning, and don’t wait for everything to be perfect before you begin,” she says. “The best part is seeing a client’s face light up when they wear something I’ve made: it’s priceless.”

In our world today, entrepreneurs are constantly squeezed between inspiration and expenses and Ramatallahi’s story is both a business lesson and a green light that innovation thrives in the most unexpected places, sometimes in Bradford, sometimes in Kwara, but always in the heart of those who refuse to give up.

With millions of women still excluded or underserved by traditional financial systems, this program is designed to provide solutions that particularly meet their unique needs, enabling them to grow their businesses and achieve financial independence.

To drive this huge impact, Accion is partnering with financial institutions such as Sajida in Bangladesh, Fidelity Bank in Ghana, SEWA (Self-Employed Women’s Association) in India, and Techreo in Mexico. 

Together, they will work to break down systemic obstacles, reduce gender inequalities, and expand financial access for women entrepreneurs worldwide.

Many financial service providers lack sustainable strategies to serve women customers, and existing products often do not meet their specific needs. This new program aims to create new solutions that can be replicated by other financial service providers, helping to advance women’s financial inclusion globally.

Accion’s team of experts will work with each institution on improving internal processes to promote gender equity, developing credit risk models, designing new products, and implementing strategies for sex-disaggregated data. 

New solutions are expected to include creating a digital profile for women who lack access to formal financial services, scaling a resilience fund in response to climate shocks, conducting market research to better understand social norms that prevent women from accessing and using financial services, and designing programs designed to address the financial needs of young women.

The 12-month program is supported by The Coca-Cola Foundation. It builds on Accion’s work connecting local ecosystem actors with the latest technologies to test, improve, and scale responsible financial solutions that enable small business owners and their families to strengthen their economic well-being.

Liza Guzmán, vice president of Customer Strategy and Women’s Economic Empowerment at Accion Advisory: “Over one billion women globally still lack access to the essential financial services that can help them build successful businesses and invest in their futures. Working with four partners – all leaders in financial inclusion in their countries – Accion will bring its deep experience helping companies provide innovative and affordable financial solutions to small businesses and hard-to-reach customers in emerging markets.”

Carlos Pagoaga, president of The Coca-Cola Foundation, noted: “We are building on our rich legacy of supporting women’s economic empowerment programs to provide underserved women with access to economic opportunities, which will ultimately create shared value with the goal of a better collective future, enhancing the livelihoods of women, their families, and their communities.”

The entrepreneurship rate for women on the continent has increased to 25.9%, with 1 in 4 women running their own businesses.

Africa’s high number of women entrepreneurs is deeply rooted in economic necessity, cultural roles, and extensive participation in the informal economy.

Economic necessity drives many women to entrepreneurship to support their families and achieve financial independence.

With 4 in 10 children growing up in single-parent homes in South Africa, women are stepping up as primary breadwinners in a movement fuelled by resilience, innovation and a fierce determination to succeed.

As the responsibility of raising the next generation falls largely on single mothers, many face the harsh reality of limited formal employment opportunities.

The 29% unemployment rate amongst women pushes them to seek alternative paths to financial stability.

In many African societies, women are traditionally seen as the backbone of their families and communities.

Cultural expectations often push women to find innovative ways to support their families, such as selling traditional foods and offering childcare services. This drives them toward business ventures that align with their everyday responsibilities.

Women are rewriting their stories, transforming challenges into opportunities and redefining what it means to be financially independent.

They’re leveraging their skills and creativity to build businesses that free them financially and challenge traditional workplace dynamics. By developing their own workplaces, they’re also levelling playing fields and cultivating spaces that promote equal rights and opportunities.

An example of a woman entrepreneur taking the reins is Hetty the Entrepreneur, a business and monetisation guru who helps African businesses thrive online.

Through her business, Hetty Boachie-Yiadom seeks to grow Africa’s digital footprint through online monetisation and digital marketing strategies.

“I’ve always had an entrepreneurial spirit. African women are driven by necessity and resilience. Economic challenges often force women to become entrepreneurs. Additionally, there’s a growing recognition of women’s potential as economic contributors,” she says.

Working closely with South African entrepreneurs, iKhokha has observed a significant 30% increase in total payment volume (TPV) from women entrepreneurs between 2022 and 2023.

This growth mirrors the success and resilience of female-owned businesses, with 78% of them in South Africa achieving profitability, as noted by SME Toolkit.

Matt Putman, CEO of iKhokha, states:

“There’s been a significant increase in the number of female-owned businesses trading with iKhokha, and we are committed to increasing this number.”

A critical element for the success of these businesses is access to working capital. iKhokha has advanced more than R1.2bn since 2019 to female entrepreneurs, enabling them to scale their operations and achieve greater success.

“iKhokha is investing in the future of South Africa by equipping women with the resources and confidence to build sustainable, impactful businesses,” says Putman.

From a range of card machines to business funding, ecommerce products and an intuitive app, the iKhokha’s full ecosystem is designed for businesses of all sizes and industries.

The fintech prides itself on providing entrepreneurs with the support and tools they need to take their businesses to new heights.

With support from companies like iKhokha, women are transforming their lives and their communities, paving the way for a brighter, more equitable future.

The journey of these entrepreneurs is a testament to their strength and resilience, demonstrating that by believing in better business and having access to the right support, anything is possible.

I did not think I would make the due date at the time. One obvious need I had was time, which I was fortunate to get from my manager at Visa.

I also needed a comprehensive support system, such as my husband taking over all parental duties and his colleagues having to cover more at work for him (I know they celebrated when I handed in my research).

A friend also helped with the school run and then took my kids every Sunday so that I could work on my paper whilst my classmates kept me accountable.

My supervisor guided and encouraged me to persevere. The outcome: not only did I submit my paper with a few days to spare, but I also passed with distinction. Would I have passed without their support? Probably. However, would I have excelled and done exceptionally well? Definitely not!

Having the proper support is critical to excelling in any field or endeavour. In Africa, entrepreneurship is crucial for economic growth and development, and women entrepreneurs play a vital role in driving this growth. However, they face several challenges that hinder their success.

These challenges range from a lack of access to financial resources to cultural biases and discrimination. Therefore, providing financial and non-financial support to women entrepreneurs is critical to their success and, ultimately, the continent’s development.

Financial support is crucial for any business’s success; it is no different for women entrepreneurs. They disproportionately lack access to capital and financial resources, making starting or growing their businesses difficult.

This lack of access can be attributed to various factors, including limited collateral, discriminatory lending practices, and a lack of financial literacy. As a result, women entrepreneurs struggle to obtain capital, which limits their ability to invest in their businesses, hire employees, and expand their operations.

Visa and Visa Foundation are committed to strengthening entrepreneurial ecosystems and contributing to addressing some of these challenges. In Kenya, Visa partnered with Hand in Hand Eastern Africa to provide training and financial support to women entrepreneurs.

The program aimed to help entrepreneurs in Kenya, 80% of whom were women, access markets, increase their productivity and improve their livelihoods.

As a result, the participants’ average income increased by $156 per month.

Furthermore, Visa She’s Next Program has partnered with several organisations to support women entrepreneurs on the continent and beyond.

Non-financial support is also essential for women entrepreneurs’ success. They face various challenges beyond financial constraints, including limited access to information, networks, and mentors.

These challenges can make it difficult for women entrepreneurs to navigate the business environment and make informed decisions.

Therefore, providing non-financial support, such as training, coaching, and mentoring, can help women entrepreneurs acquire the knowledge and skills they need to succeed.

At the 2023 Sankalp Africa Summit in Nairobi, Visa Foundation announced the launch of two new African-led initiatives to provide tailored business development support to women entrepreneurs and access to capital.

The first is the Firestarters Initiative, driven by the Graça Machel Trust, which aims to reach 100 women-led businesses in Uganda, Kenya, and South Africa and raise the profile of gender-lens investment and women empowerment on the continent.

The second is the RevUp Women Initiative driven by AfriLabs to support early-stage, women-led startups with capacity-building training and mentoring to 500 beneficiaries and unlock capital across five countries—Nigeria, Kenya, Cameroon, the Democratic Republic of Congo, and South Africa.

These programs will cover various topics, including business planning, financial management, marketing, and customer service. Moreover, mentorship programs will provide women entrepreneurs access to experienced business leaders who can offer guidance, advice, and support.

Through its partnerships and initiatives, Visa and the Visa Foundation are playing a crucial role in supporting women entrepreneurs in Africa.

By providing financial and non-financial support, women entrepreneurs are receiving the support they need to overcome challenges and achieve their entrepreneurial goals. These commitments are not only empowering women but also contributing to the economic growth and development of the African continent.

Indra Nooyi, in her book, My Life in Full: Work, Family, and Our Future, writes about the lack of access to support networks for women. Despite leading an international organisation, she was denied access to some professional networks solely because of her gender.

This was confirmed at the Sankalp Africa Summit, where women entrepreneurs who are less privileged highlighted that they face similar challenges.

This highlights the pervasive gender discrimination that still exists and the challenges that women face in achieving parity.

“What Support do you need?” is a question we should ask women entrepreneurs more often to ensure that we provide them with the proper support to enable them to soar.

I am optimistic that by supporting women’s businesses, mentoring their ideas, and encouraging their ambitions, we will continue to be a driving force for positive change in our society.

The equity investment of €18 million will be directed to the Africa Guarantee Fund (AGF), while an additional €1.2 million will be allocated to support youth and women engaged in agricultural value chains.

The funding, provided by the European Union (EU) as part of its partnership with the African Development Bank Group, aims to address the unmet demand for MSME financing in Kenya, which has been further exacerbated by the disruptions caused by the Covid-19 pandemic. The International Finance Corporation (IFC) estimates a finance gap of $19.38 billion for SMEs in Kenya, representing 30 percent of the country’s GDP.

Recognizing the importance of women and youth in the agricultural sector, Mrs. Nnenna Nwabufo, the Bank Group’s Director General for East Africa, emphasized the significance of the approval as a milestone in the implementation of the EU partnership. The agriculture sector is a vital source of employment, particularly in rural areas, and contributes to 60 percent of Kenya’s exports.

However, women entrepreneurs face numerous constraints in accessing finance and growing their businesses, including limited business management skills, legal and policy barriers, lack of access to networks and information, and inadequate financing options tailored to their specific needs. Banks often perceive women-led businesses as risky due to collateral limitations and smaller business sizes, resulting in limited lending opportunities.

The funding approved by the AfDB aims to address these challenges and catalyze private investment in the women entrepreneurship segment. By supporting women entrepreneurs and fostering inclusive economic growth, the aim is to bridge the gender gap and promote sustainable development in Kenya.

The approval of €18 million for the Africa Guarantee Fund will enhance its capacity to provide guarantees and other financial instruments to facilitate access to finance for MSMEs. The remaining €1.2 million will specifically target youth and women engaged in agricultural value chains, aiming to support their entrepreneurial ventures and promote job creation in the sector.

The AfDB Group’s commitment to addressing the financing needs of MSMEs and women entrepreneurs aligns with efforts to drive economic recovery and resilience in Kenya. The funding will contribute to reducing the finance gap and creating a more conducive environment for inclusive growth and sustainable development.

Designed to provide growth-focused entrepreneurs with coaching and support to scale their businesses, She Leads Africa is a 3-month program with this year’s edition themed “High Growth Coaching Program (HGCP) 2023”.

The program focuses on social enterprises in the Nigerian ecosystem that would leverage this unique opportunity to access needed support to grow their businesses and make an impact on the market.

Benefits

The HGCP 2023 digital program will provide the following benefits to women-led businesses across Nigeria:

• Three months of intensive training in business and operational skills
• Access to:
  • Private community of high-achieving founders
  • Check-in calls with a personal business coach twice a month
  • Monthly virtual support group meetings.
  • Bi-weekly graded personalized scorecards will help you keep track of weekly lessons and your business
  • Support in creating a roadmap of tangible business goals and access to funding opportunities

Eligibility 

To be eligible for the HGCP 2023, you must be running a high-impact business in Nigeria. The program welcomes two categories of entrepreneurs:

• Those who are interested in positioning their businesses to receive external funding either from the program or from other external investors. You will be required to submit a pitch deck during the application process
• Those who are looking to rapidly grow and scale their businesses within 6 months. You will be required to submit a growth strategy plan during the application process

Note: Your business must be based in Nigeria or have operations in the country.

How to apply

To apply for the She Leads Africa High Growth Coaching Program 2023, apply before the deadline on Friday, May 5, 2023.