On a mission for equal rights and business opportunities for women entrepreneurs on the African continent

Speech by Peter Derrek Hof, Ambassador Women’s Rights and Gender Equality, Director Social Development, Ministry of Foreign Affairs, at Start-Up Night Africa on Tuesday 11 June 2024

Excellencies, representatives from the African Development Bank, the African Guarantee Fund, the ABSA Bank, the private sector, civil society, government, dear and esteemed guests, Welcome!

Welcome, on behalf of the Ministry of Foreign Affairs, represented tonight by yours truly and by my colleague Wampie Libon, whom you will see later.

I cannot wait for this exciting evening to unfold. An evening dedicated from the beginning to the end to the vibrant spirit of women’s entrepreneurship. It is truly a great honor for me to participate in this second Start-up Night Africa. Thank you, Melanie Hawken and the other Lionesses of Africa for bringing us together. You shine a light on the importance of investing in women and on equal opportunities for women.

Peter Derrek Hof, Ambassador Women’s Rights and Gender Equality, Director Social Development, Ministry of Foreign Affairs, The Kingdom of The Netherlands

Tonight we will meet five brilliant women entrepreneurs - Sasha, Salma, Siny, Joyce, and Dupe, from South Africa, Morocco, Senegal, Kenya, and Nigeria. I do not have a single doubt: I was very impressed when I met you right before the start of this event and I am sure the audience will be blown away. You will succeed! It is an incredible honor for us that you are seeking to expand your businesses to the Netherlands as the Gateway to Europe.

Tonight we will also meet Dutch businesswomen, Barbara, Thekla, Marieke, Solange, and Merel. Entrepreneurs embarking on their business journey to the African continent.

Entrepreneurs from Africa looking for business in the Netherlands - entrepreneurs from the Netherlands looking for business in Africa. The true spirit of partnership is the key to our new Africa Strategy.

Gender Equality

Last year our Ambassador for Business and Development Cooperation addressed you.  This year I have the honor to speak in my capacity as Ambassador Women’s Rights and Gender Equality.

So you already know what I am going to say: Not a single country in this world has achieved gender equality. According to studies, it will take us until the year 2154 to get to full gender equality in the world.

130 years! Even though all of us know the benefits of gender equality. Closing the gender gap increases GDP by 23% in emerging markets and developing economies. Gender equality would add two to three trillion to our GDP in the European Union by 2050. Everyone can do the math. If you are not a feminist, I am sorry to say, you are simply not good at math.

In my own country, there are fewer female CEOs than CEOs called Peter. That is mind-blowing. Do not get me wrong. I am a Peter myself, I am all for the advancement of Peters. I wish us well. But I find it hard to get my mind around this embarrassing fact.

Female entrepreneurs everywhere continue to face many challenges when it comes to financing, owning, and growing a business.  They include legal barriers, limited access to capital and technology, attitudes, and prejudices.

Women-led start-ups account for less than 2% of venture capital invested in Europe and the US. Gender bias still plays a large role. Identical pitches are preferred when they are presented by a man in 70% of the cases.

Role of the Netherlands

In my 32 years as a diplomat, I have witnessed the incredible journeys of many women entrepreneurs. I have seen the endless potential when they are equipped with adequate funding and support.

The Netherlands is a proud supporter of women's entrepreneurship on the African continent. We work together with the AFAWA programme of the African Development Bank, the African Guarantee Fund, and the private sector.

Through AFAWA, we aim to reduce the finance gap for women entrepreneurs on the African continent by 5 billion before the end of 2026.

We aim to create lasting enhanced business opportunities for women to continue to flourish in the future. We partner with many institutions, including the Dutch development finance institution FMO, Invest International, Dutch Good Growth Fund, IFC, and ACELI. Our Ambassador for Business and Development Cooperation and his team work tirelessly to achieve these ambitions.

We support women's economic empowerment and access to finance for women entrepreneurs in Africa by applying a gender lens in business practices and investments.

The purpose of the event

Tonight, we embark on a journey filled with promise, creativity, and innovation. Whether you're a seasoned business leader, a budding start-up founder, an investment banker, or an enthusiast eager to explore the latest ventures, you are an integral part of this dynamic community. There are no bystanders tonight.

Lionesses of Africa have long been champions of women entrepreneurs across the continent. Your dedication to amplifying the voices of female founders and providing them with the resources and support they need to thrive is truly commendable.

Tonight is about challenging assumptions, breaking barriers, and unlocking new possibilities together. Tonight is about realizing business opportunities.

Enjoy the evening, filled with inspiration, learning, and meaningful connections.

Thank you.