Charlotte Magayi – Training of young mothers on the production of cook stoves. Featured Image
According to McKinsey, the female economy is the world’s largest emerging market, with the potential to add $12 trillion to global GDP by 2025.
Furthermore, according to the Global Entrepreneurship Monitor, Sub-Saharan Africa has the highest rate of female entrepreneurship globally, with approximately 26% of female adults engaged in entrepreneurial activity. Ghana is producing more female entrepreneurs than any other country, with 46% of businesses being owned by women.
However, due to several gender-specific challenges, the African Development Bank estimates a $20B financing gap for African women causing the growth of these businesses to suffer.
This year’s annual Social Capital Markets (SOCAP18) Conference, a convening for over 4,000 actors in the development, social entrepreneurship, and impact investors held in San Francisco, discussed the importance of driving investment capital towards social good.