Africa women have been given great voice and power in their ability to be an entrepreneur which is laudable, but more things need to be done so that women in Africa are able to capitalize on these opportunities. The results of Mastercard released on the first Index Women Entrepreneurs (MIWE) about 4 months ago showed that Uganda and Botswana have the highest rates of women entrepreneurship in the world.
That results revealed lots of information on how women are faring in the business compared to their male counterparts. The fact that Uganda has(34.8%) and Botswana has (34.6%) of women who are engaged in entrepreneurship in the world was of great importance. This shows how the empowerment of women has improved and progressed over the years in Africa.
In 2015, CNN reported that Sub-Saharan Africa had the highest rates of women entrepreneurship in Africa
The results show a new generation of women who are not afraid to step into the business world, which in some societies is still viewed as a keep for men. The results show a sign of positive attitude from the women in their quest to be their own liberators and in their quest to be financially independent.
But the worrying observation has been that most of the Africa female entrepreneurs are propelled by necessity and not by inspiration to fully venture into entrepreneurship. What this means is that there somehow is a lack of an enabling business environment that is able to give women a wide array of choices in their aims to be self-assertive. It means that although some women may flourish, it is because they do not have enough options for their survival.
Countries such as New Zealand, Canada and the United States of America have strong business conditions that allow women to own businesses. Some of these conditions include robust small and mid-sized business communities, a high quality of governance and the ease of doing business. The ease of doing business has been a particular impediment in how women succeed as business owners in Africa.
This is what Africa also needs so that even more opportunities are created for women on top of the existing ones that have also helped many women to succeed. There is still an inherent sense of stringent business conditions which still prove to be a hurdle for other women who harbour hopes to own businesses.
The current trends as regards the issue of female entrepreneurship are laudable, but more efforts still need to be affected by governments and many stakeholders in both the public and private sectors to make sure more women are given a chance they deservedly should have.
Culled from African Exponent | Female Entrepreneurship in Africa: Challenges and Progress