By Dhekra Khelifi, Associate Partner of 216 CAPITAL The profound impact of women entrepreneurs on Africa’s economy and their persistent battle against gender biases in technology and digital sectors form the core of their narrative. Not only do they contribute significantly to economic growth, but they also face considerable challenges in a field typically dominated by men.
According to Africa News Agency, women entrepreneurs contributed between $250 billion and $300 billion to African economic growth in 2016, which accounts for about 13% of the continent's GDP. McKinsey further recognizes the women's economy as the largest emerging market globally, with potential to add $12 trillion to global GDP by 2025. Despite these contributions, women remain underrepresented, particularly in the technology and digital fields, due to structural barriers such as limited access to education and financial resources, entrenched gender stereotypes, and investor biases.
Investor biases remain a significant hurdle, often unconsciously impacting investment decisions and disproportionately affecting startups led by women. Despite these challenges, women tech entrepreneurs in Africa have succeeded in securing funding across various sectors, even those traditionally not associated with women, showcasing their creativity and resilience.
The representation of women in venture capital in Africa is also on the rise, which is crucial for altering perceptions and improving the funding landscape for women-led startups. This change is vital not only for ensuring diversity but also for harnessing the full potential of the African entrepreneurial ecosystem.