The Index's benchmark indicator is calculated as a percentage of the total number of business owners, measuring the progress of women entrepreneurs globally, including those in Africa. The fifth edition of the MasterCard Index of Women Entrepreneurs (MIWE) sheds light on the significant contributions made by women entrepreneurs to the socio-economic landscape and provides insights into the factors that drive or hinder their success.In many African countries, women face obstacles such as less favorable entrepreneurial conditions, limited access to financial resources, fewer opportunities for higher education, and structural barriers to advancement.

 

However, despite the challenges posed by the pandemic and economic downturn, Mastercard's research shows the resilience and adaptability of women entrepreneurs in Africa, particularly in low and middle-income economies. These women often outperform their male counterparts in terms of their entrepreneurial endeavors.

 

According to the report, Nigeria, Angola, and Ghana secured the top global ranking in the Women's Entrepreneurship Activity Rate in the 2021 MasterCard Index of Women Entrepreneurs (MIWE).

 

Nigeria also achieved the second position globally with an impressive figure of 59.1 percent in terms of the percentage of 'women professional and technical workers.' Angola, on the other hand, ranked second globally in terms of hiring intentions, with 16.4 percent of adults expressing plans to employ six or more individuals in the near future.

 

Meanwhile, Botswana has emerged as one of the top 15 economies worldwide in terms of women's advancement, particularly regarding income-related performance. Notably, Botswana has surpassed high-income and developed economies like Canada, the United States, New Zealand, Switzerland, and Australia in this aspect. Botswana also earned a commendable 13th global rank in 'women's labor force participation rates.'

 

Ebehijie Momoh, the Country Manager and Area Business Head for West Africa at MasterCard, commended African nations for their efforts in promoting entrepreneurship and small and medium-sized enterprises (SMEs).

 

He highlighted that women in Botswana, Uganda, Ghana, Nigeria, and Angola are exemplary models of determination, overcoming financial, regulatory, and technical challenges to provide for themselves and their families. These women have capitalized on the opportunities available in their respective environments to become business owners, leaders, and professionals or technical workers.