African women may have limited access to finance, yet sub-Saharan Africa still has the highest rate of female entrepreneurship worldwide – with more women starting businesses than anywhere else globally.
Nigerian women, in particular, are determined to overcome the obstacles when it comes to entrepreneurship in Africa. With a rate of 41%, the West African country outranks the US (10%) and UK (5.7%) in terms of entrepreneurship among women – despite being 20% less likely than men to have a bank account.
According to a How We Made It In Africa report, estimates suggest the yearly unmet financial needs of women-owned businesses worldwide are between US$260 billion and US$320 billion. That said, female entrepreneurs from Ghana, Kenya, Nigeria and Zambia comprise more than 50% of their total pool of entrepreneurs.
