Businesses owned by young women are going through very difficult times especially with the advent of the pandemic which brought with it several barriers that are grossly affecting female entrepreneurs in Africa.
The World Bank reports that Africa is the only continent in the world where more women choose to become entrepreneurs increasingly making them key stakeholders in the continent’s development. This is despite the numerous challenges that women have to deal with, mainly social stereotypes.
Women in Africa are more likely than men to choose entrepreneurship not because they have a burning passion or the right skills, but because of a lack of better opportunities. Wage job opportunities are relatively scarce in Africa and this is even more the case for women who often have lower levels of formal education and may face discrimination in hiring practices. Additionally, women tend to be given most of the responsibility for home-based work, including childcare, so small-scale home-based businesses may be one of the few ways they can generate an income to help cover the needs of their families.
However, Africa’s young female entrepreneurs are rewriting the script and have been breaking these stereotypes. Research has previously reported that businesses run by women are likely not to grow as those run by men. Such findings have been defied by a section of some young women who have set out to break this ceiling in entrepreneurship and build some of the continent’s most successful enterprises.
“The Mission One Million Entrepreneurs (M1ME) initiative is a project that is training and equipping One Million African Entrepreneurs over a period of seven years creating an unprecedented business value chain with opportunities of increased outputs and open-ended possibilities. Launched in May 2019, The initiative focuses on building a knowledge-driven army of entrepreneurs that would propel economic revolution and revitalize Africa’s fledgling economy. This year our goal is to train 10,000 female entrepreneurs by hosting them on an online platform that also offers networking and mentoring opportunities”, Joy Michael the Executive Director of the Organization stated.
A.Y.E has proven that there are targeted interventions that are sustainable, scalable, systematic and most importantly high impact. Knowing that more than half of entrepreneurs in Africa are women, advancing gender equality is smart economics, sound business practice, and essential development policy, She further emphasized.
She invites African Female Entrepreneurs to take advantage of this opportunity and register for the Free Scholarship by visiting https://ayeorganization.com/m1me/ .
Follow A.Y.E on Instagram @africasyoungentrepreneurs and on other social media platforms @ayeorganization for more information.