Why Investing in Women Entrepreneurs is Key to Africa's Tech Boom

10 Jun 2024

The African tech scene is booming, but for women entrepreneurs, the climb to the top remains challenging. Despite their growing presence, a 2020 survey revealed that only 30% of tech firms in Nigeria are owned by women, with an even smaller percentage having women in leadership positions [Source: A 2020 Survey by ONE Campaign and the Center for Global Development (CGD)].


Obstacles on the Path

Female founders face a complex web of challenges. These include:

  • Unequal Opportunities: From disparities in promotions to the persistent gender wage gap, women often struggle to gain equal footing in the industry.

  • Funding Hurdles: Securing funding remains a significant barrier. Investors tend to be more receptive to pitches from male founders.

  • Work-Life Balance: Balancing career aspirations with family responsibilities can be a constant struggle for women entrepreneurs.

  • Beyond the Basics: Access to crucial information, unconscious bias, cultural barriers, and the fear of harassment further complicate the journey.

Building a More Inclusive Future


Fortunately, there's growing recognition of the need for diversity in the tech space. Initiatives like She Code Africa (pictured below) are empowering women to pursue careers in tech, filling the talent gap.

Other potential solutions include:

  • Mentorship and Training: Providing guidance and skill development programs can equip women to excel.

  • Targeted Funding: Creating funding opportunities specifically for women-led startups is crucial.

  • Inclusive Practices: Companies must actively promote policies and practices that foster gender equality.

  • Education and Awareness: Addressing gender stereotypes and unconscious bias requires ongoing education.

  • Support Networks: Fostering strong support networks can provide women with invaluable resources and encouragement.



Signs of Progress


While challenges remain, there are positive developments.  Statistics show that over 43% of Nigerian entrepreneurs are women, and inspiring success stories abound. Dr. Ola Brown, Nichole Yembra, Odunayo Eweniyi, and Modupe Odele are just a few examples of women making significant contributions to the Nigerian tech landscape.


Government Initiatives

Government support is also playing a role. Collaborations like the UK-Nigeria Tech Hub and Google for Startups Africa are offering grants and resources specifically for female founders.


The Impact of Female Founders

Female founders are not just overcoming obstacles; they are driving innovation and growth.  Their contributions extend beyond individual achievements, as they mentor and inspire the next generation of women in tech.


Looking Ahead

The African tech space has immense potential for women entrepreneurs.  By addressing existing challenges, fostering inclusivity, and providing necessary support, we can ensure that female founders continue to play a vital role in shaping the future of African tech.

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