Africa has a relatively high number of women that own a business, with Ghana leading the world ranking. 46.4 per cent of all businesses in Ghana have a female owner, more than Russia (34.6 per cent) and Uganda (33.8 per cent).
Africa has a high women labor force participation. Overall, African countries score highly in this area – with Malawi at 100 percent, Ghana at 96.1 percent, and Ethiopia at 86.6 percent.
These statistics were the result of research for the annual Mastercard Index of Women Entrepreneurs (MIWE). The Index examined the state of female business participation and ownership in 57 different economies around the globe, including Botswana, Ethiopia, South Africa and Uganda; with Ghana, Nigeria and Malawi as new additions.
Looking at factors like Women’s Advancement Outcomes, Access to Knowledge and Financial Services, and Supporting Entrepreneurial Factors, Nigeria and Ghana scored particularly well. South Africa excelled in sharing knowledge assets with women and providing financial access, with a score of 84.3 percent– coming in 6th out of 57 countries. Botswana followed closely with a score of 73 percent. Botswana and South Africa were the highest scoring African countries in the Index overall with scores of 66.5 percent and 64.2 percent respectively.
An interesting outcome of the Index is that cultural perceptions of women entrepreneurs in Africa are predominantly positive. According to the Index, some women’s inclination towards business ownership may be undermined by limited access to education, financial and entrepreneurial opportunities.
Further reading on mastercard.africa.com