Browsing: Women in Tech

The demand for cybersecurity skills in Africa has increased by 35% over the past year. Africa has a significant digital…

E-commerce is supporting women’s entry to and success in the digital economy and helping to compete in sectors like electronics…

Each year, the programme supports ten small and medium Kenyan female-led entrepreneurial businesses by offering mentorship, advisory, coaching, networking opportunities, access to seed capital and investor forums that help mould their businesses to international standards.

The mentorship takes 12 weeks where the teams are offered expert training in the areas of business idea conceptualization, strategy formulation and marketing, which is key in moving the businesses from incubation to sustainable ventures.

The ten businesses shortlisted from more than 300 applications will compete for up to Ksh1 million in seed funding. Since its inception, 30 start-ups have participated, 15 have been awarded Ksh1 million each in seed funding, and 41 businesses have so far gone through the incubation process, with the first four cohorts attracting 1,150 applications.

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.