Africa’s Female Economy is on the rise

Women now drive the world economy, controlling about $20 trillion in annual consumer spending, and that figure could climb as high as $28 trillion in the next five years - that’s according to the African Women" Ipsos Study: Women as Key Drivers of the African Economy. Given those numbers, it is key that female consumers are actively engaged in wealth creation and are the cornerstones of the economy, family well-being and education, and women in Sub-Saharan Africa play a vital role in this key market. As a result, women are increasingly targeted by brands operating on the continent: as consumers, decision-makers, educators and initiators, women undeniably play an active role in the African economy. In addition to their revenue-generating activities, they save and make purchasing decisions for their households in more than 7 out of 10 cases. The survey suggests that 89% of African women are the decision-makers or co-decision-makers for household purchases. As a result, Africa’s Female Economy represents one of the fastest growing and most important market opportunities for women entrepreneurs to tap into for the growth of their own businesses and brands.