Africa has the highest proportion of women entrepreneurs in the world with more than a quarter of all businesses being started or run by women according to OECD research. According to the World Economic Forum (WEF), women make up 58% of Africa’s self-employed population, contributing around 13% of Africa’s total GDP.
However, whilst these business mavericks are agents for change, they also encounter seemingly insurmountable obstacles along the way – including societal prejudices, gender pay gaps and discriminatory lack of access to finance and technology. A three-day summit entitled ‘Breaking Barriers, Building Wealth’ will address these challenges.
Held between November 18th and 20th in Johannesburg, South Africa and organised by the Graça Machel Trust through its flagship enterprise development programme Women Creating Wealth (WCW), this event will encourage Africa’s women entrepreneurs to invest in themselves, turn challenges into opportunities and push for systemic change within business landscapes.
“The Graça Machel Trust champions a continent where women and youth are pillars of progress and are torchbearers of new African narratives, we believe in the power of collective action. So, we are bringing together people who share this vision to learn from each other” said Theo Sowa, the interim CEO of the The Graça Machel Trust (GMT).
Women Creating Wealth’s mission is to support 10,000 of the continent’s women change makers who are collectively expected to generate $1 billion in value and 200,000 jobs within the next four years.
At the summit, presentations and intergenerational discussions will include everything from economic and social transformation to access to markets, access to finance and gender lens investment on the continent. This is an opportunity for women entrepreneurs to learn from and network with influential leaders, industry pioneers and passionate advocates for women’s economic advancement.
Asked why the organisation was holding a summit, Senior Entrepreneurship Manager at GMT, Korkor Cudjoe explains: “Guided by the vision of our founder, Mama Graça Machel, we are coming together to assess where we are, where we want to go, and what’s needed to get there. This summit is about solutions – identifying and scaling best practices that transform systems and ensure that women and youth entrepreneurs can move beyond survival to build businesses that generate sustainable wealth.”
Hosted by Nozipho Tshabalala, CEO of The Conversation Strategists, a firm dedicated to facilitating conversations on global stages, this event will include interactive panel discussions, key note addresses by experts and leaders and presentations by entrepreneurs who will share their lived experiences. These will be underpinned by networking sessions and in depth analysis of work done by the Trust and other experts.
“The summit offers opportunities to meet a range of African women entrepreneurs, investors, donors and ecosystem stakeholders in a collaborative and supportive environment. Learning, advocacy and action to unleash the economic power of women and youth will be at the heart of discussions and presentations with the ultimate aim of enhancing participants’ confidence, developing leadership skills and motivating entrepreneurs to take ownership of their business journeys by breaking through both professional and personal barriers in order to scale their businesses,” Sowa concludes.
Author: Ayanda Phakathi
Judge
Wendy Luhabe\’s first step into entrepreneurship came in 1991 when she launched Bridging the Gap, a consulting firm that assists young black South Africans entering the working world. In 1993, she launched Women Investment Portfolio Holdings, the first fund to provide capital to women-owned businesses in South Africa. In 2002, she launched Africa\’s first Women-Focused Private Equity Fund. She also published her first book entitled: Defining Moments: Experiences of Black Executives in South Africa\’s Workplace. Luhabe launched her Foundation in 2002, to educate young disadvantaged black women, particularly from rural areas. In 2011, Luhabe was asked by Hillary Clinton to join the International Council on Women\’s Business Leadership (ICWBL). In 2014, she was appointed Member of the Board at The Abraaj Group, a global investment firm. In 2014, she was awarded Woman of Worth from the Jewish Achievers Awards in South Africa. In 2014, she was awarded the Lieutenant of the Victorian Order (LVO) by the British Royal Family. In 2015, she was awarded Lifetime Achievement Award at the Standard Bank Top Women Awards.