Launch Announcement
The 2nd Start-Up Night Africa event held on 11 June 2024 in The Hague, The Netherlands, was the launchpad for an important new research project announcement by Lionesses of Africa, in partnership with AFAWA (Affirmative Finance Action for Women in Africa), and with the technical support of Lionesses of Africa’s research partner, Erasmus Centre for Entrepreneurship. The research aims to address identified gendered gaps in data and insights that are barriers to achieving greater, more equitable, funding and support for women entrepreneurs in Africa. The project aims to deliver better insights into Africa’s women entrepreneurs who have launched high-growth ventures ambitiously going after double-digit growth and creating scalable business models to significantly impact the market, and their communities.
This need to address the data gap was highlighted by Huib-Jan de Ruijter, Co-Chief Investment Officer, FMO - Dutch Entrepreneurial Development Bank at Lionesses of Africa’s 1st Startup Night Africa Netherlands event in July 2023, when he said:
“On the subject of de-risking lending to women entrepreneurs…a very important element in building the ecosystem is to get the gender-disaggregated data to really also understand much better what the risks are that are involved.”
Speaking about the announcement of the new research initiative, Melanie Hawken, founder & ceo of Lionesses of Africa, said:
“Data accurately reflecting the realities confronting Africa’s women entrepreneurs is pivotal in advancing gender equality. When we have robust and comprehensive data that captures the nuances of gender disparities, we can identify the challenges and gaps women entrepreneurs face in funding and growing their businesses. This data enables policymakers, funders, organizations, and advocates to design targeted interventions and policies that address the root causes of gender inequality. Accurate data also serves as a powerful tool for holding decision-makers accountable and advocating for change.”
For Africa’s women entrepreneurs to advance, creating access to the right data to aid decision and policy-making is key. This new research project will provide actionable insights to bridge the gender gap in high-growth entrepreneurship in Africa. It will identify the specific challenges faced by women entrepreneurs across Africa who are building high-growth ventures. It will follow a mixed-methods approach, combining quantitative surveys with in-depth qualitative interviews to gather a comprehensive set of data, providing insights into the underlying reasons behind the gender gap and a quantitative measure of its magnitude. Importantly, it will prioritize actionable insights by involving women entrepreneurs and gender equality experts in the design and interpretation of the study. Their perspectives will help in formulating recommendations and strategies for addressing the gender gap, empowering women entrepreneurs, and fostering an inclusive business environment.
Speaking about the new research study, Melissa Basque-Roux, Ag. Coordinator, AFAWA (Affirmative Finance Action for Women in Africa), African Development Bank, said:
“At AFAWA, we are thrilled about the launch of this research study. Closing gendered gaps in data for Africa's women entrepreneurs is key to our mission, as these gaps often mean that women are overlooked in policies, decision-making, and development initiatives. Data will help us multiply women-centered products and services, thus ending the one-size-fits-all approach. We will move from opinion to building solid business cases.”
With a shared vision to advance Africa's Women Entrepreneurs and deliver insights on high-growth women entrepreneurship in Africa, this project partnership builds upon the expertise and established networks of Lionesses of Africa, a 1.8 million women entrepreneur-strong network, and it’s research unit Lioness Data; and the Erasmus Centre for Entrepreneurship (ECE), part of Erasmus University Rotterdam and globally recognised as a leading centre for entrepreneurship and research.
Speaking on behalf of ECE, Farshida Zafar, Director, Erasmus Centre for Entrepreneurship, said:
“At Erasmus Centre for Entrepreneurship we believe that impact starts with knowledge, which is why we are committed to collect comprehensive data on women entrepreneurs in Africa. This research is more than just statistics; it is about capturing the voices, insights, and stories of women entrepreneurs. We must all commit to using the final research findings to enhance the ability of Africa’s high-growth potential women entrepreneurs to access the funding and markets they need. This is not just about individual success stories; it is about driving broader economic development and social change. By empowering women entrepreneurs, we empower entire communities and nations.”
More high-growth women entrepreneurs are needed in Africa. By providing women entrepreneurs with equal access to funding resources, opportunities, and support, their innovative ideas can transform into profitable businesses, creating new jobs and driving economic growth. Encouraging women’s entrepreneurial ventures brings fresh perspectives, experiences, and expertise to the business landscape, leading to more inclusive decision-making and problem-solving. Women entrepreneurs bring products and services to market tailored to their own needs and preferences, unlocking a vast consumer base that can drive demand and boost economic activity. When women succeed as entrepreneurs, they can elevate themselves out of poverty, support their families, and contribute more fully to their local economies. Better data and insights will support the advancement of more high-growth women entrepreneurs, which is not only a matter of gender equality but is essential for sustainable economic development across Africa.
The research project will have benefits to a wide stakeholder universe including: women entrepreneurs, Government agencies and policymakers, Development Finance Institutions (DFIs), Banks and financial institutions, Gender lens investors, Philanthropic organisations, Academic institutions, and Business media.
About Lionesses of Africa/Erasmus Centre for Entrepreneurship/AFAWA
Lionesses of Africa is a social impact innovation company empowering over 1.8 million women entrepreneurs across 54 African countries and also reaches tens of thousands of users in the Diaspora in Europe & North America. It’s mission is to dramatically change the status quo for Africa’s women entrepreneurs, who for all their potential, remain the most underserved on the planet. As an organization, Lionesses of Africa works to catalyze the collective power, knowledge and resources of the social, private and government sectors to help create impactful and scalable social innovation to advance Africa’s women entrepreneurs. Lionesses of Africa also develops digital solutions and social innovations at scale to deliver: entrepreneur networks, entrepreneur education, entrepreneur business tools & resources, and data and research on Africa’s women entrepreneurs. www.lionessesofafrica.com
Erasmus Centre for Entrepreneurship (ECE), part of Erasmus University Rotterdam, is a leading international centre for entrepreneurship education and research. Located in Rotterdam, the Netherlands, ECE empowers aspiring and seasoned entrepreneurs through knowledge, networks and access to resources, enabling them to turn their ideas into thriving business ventures. ECE offers a range of programmes, events, and support services that cultivate entrepreneurial mindsets and foster entrepreneurial behaviour. Through dynamic collaboration with entrepreneurs, academia, government, and industry partners, ECE actively shapes the future of entrepreneurship and drives positive economic and social change locally and globally. www.ece.nl
African Development Bank’s AFAWA Programme (Affirmative Finance Action for Women in Africa) is a pan-African initiative to bridge the $42 billion financing gap facing women in Africa. AFAWA adopts a holistic approach through three pillars. AFAWA finance leverages the African Development Bank’s financial instruments and has two innovative solutions to drastically transform the banking and financial landscape in Africa and to create incentives for lending to women in business. AFAWA technical assistance provides advisory services to financial institutions to ensure successful implementation of their product portfolios for women, and strengthens the capacity of women entrepreneurs through training to enhance business productivity and growth. AFAWA enabling environment engages with African governments and other key stakeholders to support legal, policy and regulatory reforms and strike down the structural barriers impeding women in business. www.afdb.org
Contact Information
Melanie Hawken, founder and ceo, LIONESSES OF AFRICA BV
Europe Office: +31 6 29128540
E-MAIL: melanie@lionessesofafrica.com
Website: www.lionessesofafrica.com