As the YALI Network kicks off #Africa4Her, we’re looking at some of the biggest issues facing women in sub-Saharan Africa today. And the issues that hold back women — 50 percent of the population — hold back the countries they live in.
Nowhere is this so clear as in the economic sector. When it comes to fueling economic growth, studies have repeatedly shown that giving women economic opportunity is among the most powerful fuels that exist.
A report by global investment and banking firm Goldman Sachs found that bringing more women into the labor force has the potential to boost a country’s per capita income by an average of 12 percent by 2030.
The same research showed that women use their earnings to buy goods and services that improve family and community welfare, which in turn creates further economic growth.
And yet worldwide, 70 percent of businesses owned by women have no access to financial services such as savings accounts and loans. Laws and cultural traditions limit the economic contributions women are able to make, whether by not allowing them to borrow startup money in their own names, by favoring male relatives in the ownership of capital, or by demeaning their opinions in male-dominated business environments.
We’ll look at women in Africa who have taken on these obstacles and made strides toward a more inclusive business culture. We’ll look at ways both men and women can address gender bias and unlock the potential for economic growth that women represent.
In the upcoming YALI Network Online Course “Paving the Way for Women Entrepreneurs,” entrepreneur/executive E. Diane White gives practical tips on what women can do to ensure their voices are heard in the business world.