Closing the gender gap in Africa with investments in women-led businesses will contribute to higher social and financial development on the continent.
- Gender gap issues cost approximately USD 95 billion to Sub-saharan Africa every year.
- Women entrepreneurship still represents a vast untapped source of job creation and economic growth since there are only 31.3% of female entrepreneurs, who generally operate at small scale.
- 43.9% of women entrepreneurs who borrow money do so from relatives; banks and microfinance institutions benefit to only 3.5% of women entrepreneurs.
- Women invest 90% of their income in education, health and food for their family, against 30 to 40% for men.
- Companies in the top quartile in terms of women representation in executive committees have an EBIT 14% higher than the average.
- Women, especially those living in rural areas, are more reliable than men when it comes to paying off their debts.
Sources: PNUD (2016); Sneeringer (2017); McKinsey (2017); McMaster University (2013)