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A report by The Women in Tech Africa Summit 2019 showed that despite receiving 50 per cent less venture capital funding, global technology firms led by female entrepreneurs typically achieve a 35 per cent higher return on investment than those managed by men.
In the first half of 2021, African startups raised US$1.19 billion. However, female CEOs raised just 14 per cent of the financing, up from 2 per cent for the same period in 2020.
The African Development Bank puts the funding gap for women entrepreneurs in Africa at US$42 billion.
This should encourage more investors to take a gamble on women-led businesses in Africa’s tech space as they offer promising returns.
Women in tech on the continent not only drive significant development in the African tech space, but they also simultaneously inspire young girls venturing into tech across the continent to do the same.
President Uhuru Kenyatta has ordered a countrywide security crackdown to weed out rogue boda boda…
