Africa leads the world in female entrepreneurship. Nearly one in every four businesses across the continent is owned or led by a woman. This high rate shows the strong capacity, resilience, and leadership of African women.
Sylvester Adinam Mensah, CEO of the Ghana Export-Import Bank, shared these figures. He spoke at the 2026 Ghana Female CEOs Summit in Accra on Thursday, May 7. Mensah described the trend as a testament to women's determination to drive business growth. He indicated that this achievement happens despite many structural challenges.
However, Mensah expressed serious concern. Many women entrepreneurs earn less than their male counterparts. They also struggle to grow their businesses. This is due to unequal access to critical resources. Specifically, access to finance, markets, and other key opportunities remains limited. This disparity hinders their full potential.
Mensah further noted that these issues are not about competence. They stem from systemic barriers. Addressing these gaps is vital for Africa's economic progress. Inclusive economic development requires empowering these businesses. Sustainable growth for the continent depends on it.
Mensah called for more robust and coordinated support systems. These systems should aim to empower women-led enterprises throughout Africa. He stressed the importance of tackling these opportunity gaps. This is essential for fair economic development. It is also crucial for lasting growth across the continent.
The Ghana Export-Import Bank, under Mensah’s leadership, is a key institution. It aims to support Ghanaian businesses, including those led by women. The bank's mandate includes facilitating trade and investment. Ensuring equitable access to its services is paramount. The insights shared at the summit highlight the ongoing need for policy interventions. These interventions must focus on gender equality in business. The report from the summit indicates a clear call to action for stakeholders.
The data underscores a persistent challenge in many African economies. Women often demonstrate high levels of entrepreneurial activity. Yet, they face significant hurdles in scaling their ventures. This creates a disparity in economic outcomes. For instance, data from previous years showed a widening gap in financing for female-led startups. This issue affects not only individual women but also the broader economic landscape of Ghana and the rest of Africa. The insights from Mensah are therefore timely and critical.
The implications are significant for Ghana's economic planning. Policies must actively promote fair access. This includes improving financial literacy for women. It also involves creating dedicated funding streams. Easier access to local and international markets is also key. Building mentorship programs will further strengthen their capabilities. The government and private sector must collaborate on these efforts.
Looking ahead, attention will likely focus on concrete measures. These measures could include new financial products. They might also involve regulatory changes. Increased investment in women's business networks is also expected. These steps are necessary to truly unlock the potential of female entrepreneurs. Such progress is vital for Ghana's and Africa's overall economic prosperity.