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REGIONAL ROUNDUP AFRICA

Boris Johnson
‘Let us in’: African

women entrepreneurs

“It is not just about men- through their businesses are increasingly
run and owned businesses... “part of the conversation,” said Tatu Gatere,
the whole team has to play,” co-Founder of BuildHer, a Nairobi-based
Monica Musonda, founder of social enterprise that helps disadvantaged
Java Foods, a Zambia-based women get construction jobs.
rom job creation to clean energy, female food manufacturer that aims to tackle mal- “They are often the pioneers of commu-
FAfrican entrepreneurs can add millions of nutrition, said. nity, if you help women you have a trickle-
dollars to their economies and deliver posi- “We have to scale and make women-run down effect to children and families.”
tive social change if they are taken more seri- businesses profitable because they create Investors are paying more attention to
ously, experts said at British trade event last impact, create jobs and they also contribute women led-businesses, according to Krisz-
month. to development.” tina Tora, chief market development officer
Entrepreneurs from 21 African countries Africa has the highest concentration of fe- at the Global Steering Group for Impact In-
– many of them women – showcased busi- male entrepreneurs, accounting for almost a vestment, an industry body.
nesses from smart street lighting in Nigeria third of all businesses on the continent, the A major hurdle remains, though, which is
to environmentally friendly breweries in Ken- British government said in a statement. not specific to Africa: “Investors tend to in-
ya aimed at making profit and doing good at It is the only region in the world where vest [internationally] in people that look like
the inaugural UK-Africa Investment Summit more women than men choose to become them – white expatriates educated in the
in London. entrepreneurs, according to World Bank fig- US,” she told Reuters.
UK Prime Minister Boris Johnson had ures which show that African women are half “It is not only a challenge for women but
earlier made a pitch for Britain to be the “in- as likely as men to hold salaried jobs. the whole industry to get beyond their com-
vestment partner of choice for Africa” at the Yet female-led businesses tend to be fort zone to look at what is creating impact
conference ahead of his country’s departure smaller and their owners often struggle to rather than who looks like them.”
from the European Union. secure technical support and investment. Ahead of the summit, Britain announced
But female entrepreneurs from African Musonda said it took her longer to get plans to provide female entrepreneurs in
countries, including Uganda and Zambia, her company manufacturing affordable and Africa with £3.5 million ($US4.24 million) to
said they needed to benefit from the same nutrient-enriched food like noodles off the help with business advice and mentoring.
opportunities as men for their continent’s ground because of her gender. – Sarah Shearman, Reuters
ambitious development goals to be realised. African women striving for social impact

Britain seeks for Britain to be the “investment partner of est bilateral development investor in Africa,
choice” for Africa.
said the bulk of the funds were going to re-
gional African banks, so that they can lend to
Johnson has announced an end to British
support for thermal coal mining or coal pow- entrepreneurs and small and medium-sized
deeper ties er plants overseas, saying it made no sense firms.
The deals included a $US100 million trade
for the UK to cut its carbon emissions from
power generation at home while supporting finance loan with South African lender Absa
coal-fired projects abroad.
to support SMEs in southern Africa, as well
with Africa ey will be directly invested in digging up coal as a MoU for $US100 million to Egypt’s larg-
“Not another penny of UK taxpayers’ mon-
est bank CIB for SMEs and microfinance.
or burning it for electricity,” Johnson said. Investments in solar and renewable ener-
post Brexit countries extract and use oil and gas in the gy projects were also on the list. In total, the
Instead Britain would focus on helping
CDC Group plans deals worth over $US2.5
cleanest way possible and on encouraging billion in Africa in the next two years.
investment in solar, wind and hydropower “The commitments we have announced
schemes, he added. today will accelerate the roll-out of solar
aving secured his country’s exit from Johnson also highlighted deals worth bil- power and other renewable technologies
Hthe European Union, UK Prime Minister lions of pounds with countries on the conti- and support the growth of countless SMEs –
Boris Johnson is seeking deeper investment nent, underlining the roles British companies the bedrock of any healthy economy – cross
ties with Africa. are playing in providing anything from smart the continent,” CDC chief executive Nick
Britain was poised to depart the EU – the street lighting in Nigeria to environmentally O’Donohoe said.
world’s largest trading bloc – on January 31 friendly breweries in Kenya. CDC said it is responsible for over 10% of
and Johnson has expressed a desire to de- Meanwhile, UK government-owned fi- all capital invested through Africa-focused
velop business relations with countries out- nance agency CDC Group has signed private equity funds.
side of Europe. $US400 million worth of African investment
Speaking last month at a summit for lead- deals. – Elizabeth Piper and Karin
ers of 21 African countries, Johnson called Strohecker, Reuters
The CDC Group, which says it is the larg-

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