IFC is helping create opportunities for women entrepreneurs – an increasingly important force in economies across Africa -- by providing support and training while addressing some of the barriers they face.
Aspiring businesswomen in Africa are often prevented from realizing their goals. In Rwanda’s informal sector, for example, 58 percent of enterprises are headed by women. Yet women continue to face impediments from entering the formal sector, and have limited access to managerial positions and technical skills training.
Regulations often aim at protecting women, but instead force them into the informal sector, with limited job security and fewer social benefits. In Swaziland, a woman can open a bank account or take out a loan only with the consent of her husband or a male relative: not surprisingly, just 30 percent of Swazi women have bank accounts, versus 52 percent of men.
IFC, a member of the World Bank Group, is helping women succeed in business by offering financial products and advisory services to help them gain access to finance and improve their business skills.
IFC is also committed to helping reduce gender-based barriers in the business environment.
The wide range of advisory and investment-related efforts to support women includes projects in: the Democratic Republic of Congo, Ghana, Kenya, Madagascar, Malawi, Mauritania, Mozambique, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Swaziland, Tanzania and Uganda.
Increasing access to finance
In Kenya, IFC and the African Development Bank are running the Growth Oriented Women Enterprises Program, which is helping women-owned businesses grow by providing partial financing guarantees of between $20,000 and $400,000, while also offering extensive business and management training.
Launched in 2006, the IFC program has trained 148 women entrepreneurs, approved 33 loan applications, and helped create more than 130 jobs. IFC expects to help as many as 400 women-owned enterprises in Kenya access credit by 2012.
Reducing gender-based barriers
A 13-part television documentary series supported by IFC featuring the personal and professional stories of African businesswomen was recently launched in Nairobi, Kenya.
The programs, “Turning Tide: Women Entrepreneurs in Africa”, include in-depth interviews with successful businesswomen working in Ethiopia, Kenya, Rwanda, Tanzania, and Uganda.
The programs illustrate that women have made successful inroads in business and have taken paths once only believed could be followed by men.
Voices of Women Entrepreneurs
In November 2008, IFC and the Rwanda Chamber of Women Entrepreneurs released a report revealing the extent of female participation in the private sector and their growing leadership role in Rwanda's development. The new report, Voices of Women Entrepreneurs in Rwanda, provides new information on how policymakers can support women in business.
According to the report, in Rwanda, remarkable progress in the political arena has been paralleled by the success and strength of women in business. Rwandan women head 42 percent of all enterprises. They make a significant contribution to the country’s economy through their business activities, which are well distributed across sectors.
Improving sustainability of investment projects
Mining continues to play a key economic, financial and social role in many countries in sub-Saharan Africa. Some mining companies have found that hiring women in nontraditional occupations, such as mining truck operators, optimizes efficiency since safety risks, accidents, and maintenance costs are minimized.
Natalie Africa, IFC Senior Operations Officer, said: “IFC is working with two mining companies in Ghana and South Africa to help them better integrate women into their operations. In doing so, IFC is contributing to our clients’ sustainability objectives and to improved performances through greater gender diversity.”
For More Information Contact:
Kimberlee Brown
Communications Consultant
Johannesburg, South Africa
Tel: +27 (0)11 731 3175
Email: Kbrown@ifc.org
