Investing in African Women Entrepreneurs: Highlights from Social Capital Markets (SOCAP18)
There is an immense opportunity for economic growth and social impact by investing in Africa women According to McKinsey, the female economy is the world’s largest emerging market, with the potential to add $12 trillion to global GDP by 2025. Furthermore, according to the Global Entrepreneurship Monitor, Sub-Saharan Africa has the highest rate of female entrepreneurship globally, with approximately 26% of female adults engaged in entrepreneurial activity. Ghana is producing more female entrepreneurs than any other country, with 46% of businesses being owned by women. However, due to several gender-specific challenges, the African Development Bank estimates a $20B financing gap for African women causing the growth of these businesses to suffer. This year’s annual Social Capital Markets (SOCAP18) Conference, a convening for over 4,000 actors in the development, social entrepreneurship, and impact investors held in San Francisco, discussed the importance of driving investment capital towards social good. Many actors came together to advocate for a greater African presence at this event, as a result, SOCAP18 invested in bringing on partners, such as my company Baobab Consulting, to ensure that African voices were heard and received the appropriate business and strategy advice to make the most out of the conference. Not only was Africa a focus this year, but SOCAP also picked Gender and Markets as a theme with its own track. The community has discussed these issues long before the #MeToo movement, but this year, an entire track was dedicated to hearing from women entrepreneurs, investors and other actors actively working to push the agenda to drive investments to women. To combine these two themes, I organized a panel called “Women’s Entrepreneurship in Africa: The Key to Sustainable Development.” We had two female entrepreneurs, one male, and one female investor, all originating from the continent. The discussion focused on explaining the landscape for African female entrepreneurs and encouraged the audience to value and respect the inputs of women as they build their investment and social impact portfolios. Both Margaret Nyamumbo, Founder of Kahawa1893, and Salem Afangideh, Founder of Thrive African Girl, gave their perspectives as female entrepreneurs. They highlighted the need to value local talent, compensate African women for their expertise, and spread the right narrative to represent them. Salem highlighted that so often, investors will expect the entrepreneur to educate about the African context, but they should be doing their own due diligence to establish mutual respect and build trust. Margaret highlighted that the way in which people are represented matters, and that African women entrepreneurs must build a positive narrative surrounding their work and the opportunities they are creating. James Thuch Madhier, Founder and CEO of the Rainmaker Enterprise, and the only male represented on the panel, told stories of his life as a refugee in South Sudan. “My mother brought me up during the war and we survived because she was entrepreneurial. My entire female ancestry were great leaders so I am proof of the value of African women,” he said. At SOCAP, James was one of the many men present who embodies the #HeforShe mentality, and it is clear women entrepreneurs do have allies, even in a competitive funding ecosystem. A highlight that sticks out comes from Pauline Mbayah, an impact investor and Director, Strategy and Partnerships at the African Enterprise Challenge Fund based in Nairobi. She advised the audience that, “The continent has hope, the continent is on the move, and opportunity exists. We ask [foreign] investors to work with people on the ground to make new opportunities, and match-make your money to opportunities that already exist.” Another takeaway from her is that building smart partnerships with women entrepreneurs on the ground is the best way to invest your money and receive both financial and social returns. Beyond the panel, SOCAP also offered scholarships for African women entrepreneurs to attend the conference. There was an array of talented women, from Ivy Appiah from Ghana, who makes high quality black soap products which are sold across Ghana and Nigeria, to Charlotte Magayi, Co-Founder of Mukuru Clean Stoves, which enables young mothers from low-income households to keep their children safe, save on fuel consumption, and reduce household air pollution in urban slums. As women entrepreneurs, we face a different set of challenges that our male counterparts will never have to face. But one takeaway from SOCAP is that there is a support system seeking to empower women, especially those from Africa, to attract investment and scale their businesses. I look forward to pushing forward their stories and carving spaces across the world to showcase them. Got an article you’d like to share with us? Click here.
Thulisile Gama: I get paid to play with sand
“I remember when I had just started as a junior metallurgist, I had to give an operational instruction to one of the teams. A man from the team told me that he will not take an instruction from a woman. I was shocked!”- says ‘Mining Powerhouse’, Thulisile Gama, who is making a name for herself in the Mining and Metals sector. Thulisile holds a BSc Metallurgical Engineering degree from the University of the Witwatersrand and is a Senior Metallurgist at Tronox KZN Sands. She has served as chairperson of Tronox Women’s Network, a global network aimed at supporting the professional development of women in engineering. She is a mentor to young girls, particularly those from the rural areas. Dressed in stuffy, hot overalls with big safety boots on, climbing high staircases of tall metal equipment, with temperatures higher than 1000oC, her work environment is not an easy one at all!. “I get paid to play with sand!”, she says playfully. What made you choose your field of work and what has made you stay in it so far? Mining is the backbone of South Africa’s economy. I joined this industry because I am passionate about natural resources and I wanted to be part of the bigger picture. There is never a dull moment. From supply-demand dynamics of different commodities, advancement in technology, or the status of the global economy, each day brings something new. All these changes affect the industry and as engineers, we are forced to implement more innovative solutions to ensure the survival of companies. I enjoy the variety of work and the daily challenges that my job provides. [bctt tweet=” Confidence, self-esteem, and assertiveness are key aspects for women to be heard.” username=”SheLeadsAfrica”] Take us through what you do on a typical day at work. There is never a ‘typical’ day at work and that’s what I like about my job. One day I find myself sitting in long strategic meetings, and the next day I am offering solutions to process issues at the plant. Each morning I review the production of the previous day and ensure that the quantity and quality are within specification. Initiating and identifying continuous improvement ideas that will save cost is also something that I incorporate into my daily decision-making and thinking. [bctt tweet=”I constantly remind myself that as women, we have the same thinking ability as men.” username=”SheLeadsAfrica”] How do you manage to get your opinions heard in a room full of male engineering experts? If I’m invited to a meeting, I believe that my technical skills and opinions are needed and I deserve to be there. One thing that I constantly remind myself of is that as women, we have the same thinking ability as men. When voicing my opinion, I make sure that I do not allow myself to be interrupted in the process. Confidence, self-esteem, and assertiveness are key aspects of being heard as women. Some studies have found that women tend to leave their engineering careers after some time. Why do you think this is the case? A lack of female role models in mining is a major contributor to female engineers leaving the industry. Having role models who are the same gender as you, who have walked the same path can go a long way. For us women to influence the world of mining, we need to to be more accommodating of females and build a network of solidarity. It is important for women to support other women and serve as mentors to young girls. In South Africa, mining companies have been driving to up their female employee numbers by offering women bursaries. Sometimes, women study engineering only because they are offered a bursary. I’ve seen this happening especially to African people from disadvantaged communities who cannot afford to fund their own studies. Some realize only when they start work that engineering is not for them and quit. [bctt tweet=”For us women to influence the world of Mining, we need to build a network of solidarity.” username=”SheLeadsAfrica”] How can young women interested in the mining industry better prepare themselves for a career as a metallurgist? For young females who are interested in pursuing metallurgy as a career, I would say ‘go for it!’ It is a challenging environment but with lots of opportunities. When I started work, I didn’t want to acknowledge the gender barrier but I have come to see my gender as a strength and I now focus on leveraging it. Invest time in researching about this field. Enter this industry because of passion, not money, and find yourself a mentor or role model. Having an engineering degree doesn’t mean that you are not going to crawl and get dirty. You need to work your way up the ranks, starting at the bottom. It’s also important to be teachable. Be keen to learn and take the initiative to do so. Focus on building strong fundamentals when you start as a junior, you’ll need those as you progress in your career. How do you let your hair down after a long week of solving complex engineering problems and ‘playing with sand’? I spend time with my awesome son and read a lot when I’m not at work. I enjoy the outdoor life, exploring new places and different cultures. Running also liberates me. Also, I have a passion for fashion and I’m planning to start my own clothing line in the near future! Do you have a business or career story to share? Share your story here.
Rebecca Rwakabukoza: Stay humble, Stay hungry!
[bctt tweet=”It actually gives hope to have media see women as more than the boxes they have ticked us on” username=”SheLeadsAfrica”] Rebecca Rwakabukoza is a Ugandan feminist blogger and freelance journalist who writes at the intersection of gender, feminism, health, and social justice. She is currently co-organising dialogue initiatives to improve gender equity in the Ugandan media sphere. As a 2014-2015 Global Health Corps fellow at ACODEV in Uganda, she led efforts to improve knowledge management and communications for the organization. Rebecca completed her undergraduate studies at Amherst College where she was a United States Student Achiever’s Program Scholar and Koenig Scholar. She spent her summers during college with the Uganda Village Project in Iganga, Uganda Rural Fund in Masaka, and interning at the national daily newspaper, Daily Monitor. As someone who majored English in college, are you surprised to find yourself working in the global health space? What drew you to the field? I was lucky that I studied in a liberal arts curriculum so while I majored in English, I took classes across several fields. I was not surprised to find myself in the global health space because while public health was not offered as a major at Amherst College, I was able to take plenty of classes in the field, both at Amherst and at the other colleges in the 5-college area. Also, I interned in the field. Global health was one of the fields that I knew I would always end up in because it just felt natural. My mother is a nurse, and I grew up knowing that conversations about health were especially important outside the doctor’s room. You’ve spoken widely on global health and social justice, including at TEDx Live in Kampala. For so many of us, public speaking can be overwhelming. Why is it important that we raise our voices for what we believe in? Any advice on how to stay calm on stage? For me too! It was very scary to stand on the stage. I had practiced several times with friends, and the TEDx organizers in Kampala. Some friends in GHC had also filmed me while I practiced and I got to watch myself before. I went over my script several times and was afraid it would sound practiced, so definitely getting to watch myself before braving the stage was good. This might sound cliche but I think ultimately what helped was choosing a topic I was most passionate about. Speaking from the heart should be scary, but it does have a way of calming you when on a stage. Because you know, if anything, at least I was true to myself. What is your major source of inspiration in the face of challenges and obstacles? I draw inspiration from so many places, depending on the gravity of the challenge. If it feels like Rwenzori Mountain level stuff, then I have to call in the big guns: my mother and grans. They field many calls and sometimes we don’t even talk about what the issue is, but just speaking to them about something random helps. I am really big on history so I suspect some of my attachment to them is the stories they tell. Plus they are pretty incredible women. I also get a lot of inspiration from archives so I listen to a lot of history podcasts and visit the Uganda Society library to read old books. Digging through history is my happy place. But also, food. I am a stress eater. Can you tell us about a mentor or advisor who really made a positive impact on your life? There are so many! There has always been someone holding my hand through life, from primary school to now, seeing a better, more hardworking, more focused, smarter, more empowered version of me and helping me work towards her. If I had to pick just one, I would say my college advisor, Professor Rhonda Cobham-Sander. I don’t know how she believed in me or why, but she did and it made all the difference. [bctt tweet=”Rebecca Rwakabukoza says better media coverage is good for women’s health” username=”SheLeadsAfrica”] You’re currently working on improving gender equity and representation of women in the media in Uganda -so cool! What’s the tie in with health? Health ties into everything. Some of the biggest issues women face right now are health-related: access to family planning, gender-based violence, maternal health. The most direct answer, therefore, is better coverage is good for women’s health. But the project I am co-organising however, is more than health and the specific women-related issues. It actually gives hope to have media see women as more than the boxes they have ticked us on -boxes that either have to do with our reproductive health or that see us as caregivers in society. Media that allows for the presence, and wisdom, of women in their coverage and sourcing is good media. It is what media should be period. Anything else is a disservice to the community. And you recently became a mother -congrats! As a woman who is identified as a feminist, what are your hopes and dreams for your daughter’s future? Thank you! My wish for her is that she gets to choose. To choose how she wants to live her life, to choose who she would like to be, and how she would like to contribute to the universe. And if she doesn’t want to contribute, that’s fine too. Now, the hardest part I suspect is going to be my role in this. I hope I am able to teach her enough and may she -goddesses willing- be an even better, stronger, more badass feminist than I will ever be. Which accomplishment -personal or professional- are you most proud of? I am yet to do something and look at it and think of it as my biggest, or best, achievement. I am still working on things and it all only goes higher. My next one is my biggest. What is
Role models for the woman who doesn’t want kids
It’s time for a brutally honest conversation. Some women don’t want kids. Being a parent is just one of the many roles that women can play. I particularly feel angry when women are pushed into or forced to be parents when they have no intention, inclination or desire to be mothers. Parenting, including having kids, should be a matter of choice. A child does not want or need a reluctant or frustrated parent. As women, we are human beings first with desires, ambitions, talents, skills and purpose. For those of us who choose nurturing as their primary goal be the best you can be, it’s a choice! Personally I preferred to have my children in my 20s as they are important in my life path. However, we should all respect that women have a different paths through which to contribute to society. Sometimes this does not include having kids. If you’ve felt alone by not feeling any maternal desires, this list of prominent childless women will remind you that you are not. Rosa Parks, Civil-Rights Activist Rosa Parks is famous for refusing to give up her bus seat to a white passenger in Jim Crow era US. Her defiance lead her to became a symbol for the Civil Rights and she later received national recognition for her work as an activist. Oprah Winfrey, Media proprietor and philanthropist Oprah is undoubtedly the Queen of media. She doesn’t need an introduction, we know that she is the richest African American of our time and possibly the greatest black philanthropist in history. Roselyn Naliaka Nambuye, Kenyan High Court Judge The Court of Appeal judge with over 30 years experience in law, Roselyn was the chair of the Kenya Women Judges Association. She created scholarship for destitute children and is also known participate in communal activities like funerals and harambees. Billie Holiday, Singer and songwriter The iconic singer of the blues, Billie Holiday never had children. She pioneered new forms of singing and is known for her voice which captured her audience’s attention completely. Angela Merkel, Chancellor of Germany, 2005-now The number 1 most powerful woman in world this year, according to Forbes, Angela Merkel is the first woman leader of the Christian Democratic Union party and the first woman Chancellor of Germany. Condoleezza Rice, US Secretary of State 2005-2009 Condoleezza Rice was the first woman to serve as National Security Advisor and the first African-American woman to be Secretary of State. Condoleezza is also a professor of political sciene affiliated with Stanford University. For those who just don’t want to have children now, remember that child bearing can be deferred until even your forties. This can allow you to pursue any other ambitions you may have during the “prime” of you life (that is between the ages of 25 to 35) .
When is the right time to tie the knot?
This is question that runs through just about every girl’s mind once she counted as a woman. In the 70’s, women were often married off by the time they were 18-years-old, even earlier when cultural norms were considered. If you were 25 and still unmarried, you were seen as an old spinster. Emphasis on the word “old”. But after the 70’s, the average age at which women got married only continued to rise instead of falling despite terms like, “old spinster”. This happened across the world as the dynamics around what and who a woman was as well as what her duties and limitations are began to shift. The historical angle There was a point in time when the status a woman got was solely attached to her father’s name and her husband’s after that. For this reason, I think women, even those born into families with strong reputable names, made sure that they married into status. This had to be done as soon as possible, of course before all the good men with the good names got swept up. But once women were able to get their own jobs, make their own money and demand more respect than they were only able to in previous times and environments, there was a sudden shift. Women had more liberties then and the need to achieve more for themselves outside the aspects of family grew. What all this has done in subsequent years is, it’s made more and more women think about themselves, their own name, reputations, careers, and futures. But we still yearn for companionship. We still want that place in a family as wife and mother. A right time to tie the knot? But is there a right time to tie that knot? Everyone has an opinion about when the right time is and their own reasons for backing it. Your grandmother might say the moment you turn 20 you are ready. Your auntie, the nosy one who’s in everyone’s face, might say when you’re 24. Your mother might say when you’re done with school. But when are you done with school? You get your first degree, and then perhaps your second. Then your masters and then suddenly getting a PhD seems like the next best option. There will be those people who will say that you just must marry before your eggs “grow old” and preferably before you turn 30, the apparent age when everything in your body starts to shut down, so that you can have kids and be young with your children. “You don’t want to have to run after a 5-year-old when you’re an old and tired,” they will say. But now technology has given us a way to preserve our eggs, get sperm donors, use surrogates and along with the increased awareness and great regard for fitness and nutrition, this reason to tie the knot earlier rather than later has started to weigh less than it did before. More women are adjusting their timelines for just about everything. What does the public say? I went out to see what the Ugandan public thought was the right time to tie the knot. One lady I spoke to felt that any time is the right time when you’ve met the right person and are physically, emotionally, spiritually and financially ready to take that step while another without hesitation replied 28. One unmarried guy seemed to agree with this adding that you need to be at a place where you are willing and able to provide for a family. When the married people, both women and men, were asked for their opinion however, they had this to say, “The time is right just when it is. There is no formula when it comes to emotions.” “You’ll never have enough money. If you love her and she loves you back and you both see each other in each other’s lives long term, get married” “You’ll never be perfect and rounded in all the ways you want to be. If you’re both on the same wavelength and love each other, just do it.” “After you have found yourself and your centre because if it is because if your reason for marrying is loneliness then you’re making a big mistake. Loneliness is a spiritual, emotional condition.” After considering the replies of happily married people, we can with some confidence, say this much. Before you join yourself in holy matrimony with someone else, make sure you are happy, fulfilled, whole, healthy as an individual and ready to give 100%. There is no certain universal time when a person is at this place in their lives. Despite all this, marriage is an institution that requires two whole persons not two half empty vessels. When is the right time to tie the knot? You decide.
5 ways to start building your political career
Today more women are taking charge and running the show in different capacities as businesswomen, captains of industries, CEOs, academics, and professionals. Yasss! Salute to all the Motherland Moguls making it happen. For the longest time, politics all around the world has been referred to as the big boys’ game. Well, hold the door fellas because more girls wanna come in and play too. Why politics? It’s simple. There are various issues that affect us African women such as those tendered in the Nigerian Gender and Equal Opportunity Bill which failed to pass for the second reading in the Nigerian Senate. Some of these issues include access to education, divorce rights, ownership of property. To get the laws that will favour us, we need better representation in government. An article in the West Africa Insight declares that women are usually found at the bottom of the political chain; organizing, supporting, and acting as spectators as opposed to leading and initiating. Traditionally, the woman is relegated to the background and as such this practice has found its way into political participation. In the ECOWAS parliament, we have only a minute number of female parliamentarians. Nigeria has one of the lowest numbers of female senators and ECOWAS parliamentarians (6.7% of parliamentarians in Nigeria are female). Despite decades of self-governance, this country has produced only two female governors in its entire history. Does this mean that women are uninterested in politics? Of course not. While we recognize that the participation of women in politics has been an immense struggle with several factors working against us such as financial constraints and cultural inhibitions, we must rise to the occasion. We commend the efforts of countries like Rwanda, South Africa and Namibia for taking a feminist stance in political representation. However, several African countries are still lagging behind. We need to rewrite the story of women in Africa and it starts with every single one of us. Politics is not confined to running for office either. Some of us will rise to become the most influential persons in the government’s cabinet as ministers, commissioners, advisers and administrators. It’s not just about women issues. If we are qualified and passionate about good governance, then we should put ourselves out there. If you have a dream to create an impact in your constituency, by all means work towards it. Where should you begin? For those of us who would like to make our foray into politics, these are some of the steps we need to be taking: 1. Start young It’s not too early to plot your map and begin making steps towards your political future. Now is as good a time as any. Take a leaf from Lindiwe Mazibuko, former parliamentary leader for the Democratic Alliance in South Africa who made history as one of the youngest parliamentarians. She decided to veer into politics after being intrigued by her future party’s dynamics making it the focus of her final year dissertation in university. 2. Get involved with a cause You need to be known for something. This is the time to begin to carve a niche for yourself. What social issues are you most passionate about? There are several campaigns that you can get involved with depending on where your passions lie. Volunteer within the community. Propelled by crises in her own life, Joyce Banda, Former President of Malawi inspired and impacted the lives of women and children battling systemic abuse and poverty even before assuming public office. She also fought to enact bills protecting women and children when she gained a seat in parliament. 3. Align with a mentor Network with the people who can kick off your career and fund your aspirations. According to Political Parity, a platform aimed at helping women achieve their political aspirations, more women remain at the bottom tier because of lack of access to funding. Mentors who are able to relay their experience as well as provide resources and connections play an invaluable role in an aspirant’s rise to success. 4. Develop the right skills to stay relevant Hanna Tetteh became an indispensable member of her political party in Ghana after a worthy performance managing its communication strategy. She has been described as an expert negotiator and it is no surprise that this skill has helped keep her at the top of the political ladder. What skills can you start to develop that will be useful when you begin building your political career? 5. Become an expert in your chosen field As a young woman some people may already have their doubts about you so it is extremely important that you become a master in your field. Former Nigerian Minister of Finance, Ngozi Okonji-Iweala had a long career as an economist rising to one of the top positions in the World Bank before entering government. Despite controversies, she was a prized asset in President Jonathan’s government due to her level of expertise. Thulisile Madonsela became Public Protector of South Africa after receiving a 100 percent vote from parliament. She holds a BA in Law and an LLB, she was also awarded three honorary doctorates in law after an impressive record in public service. She was involved in the drafting of South Africa’s constitution amongst other notable feats. No one can deny that she knows the law and would be an effective advocate for South Africans. Begin to build a worthy resume by deciding what area you intend to become an authority in and by working diligently at it. There you have it ladies, 5 steps that can help you ascend the political ladder. What moves will you be making?