One year on from the declaration of the Covid-19 pandemic, the Common Market for Eastern and Southern Africa’s deepest concern has been that women-led businesses have been strongly affected, underlying a stark economic reality for women businesses in Africa.
In a study carried out by the International Trade Center, 64 per cent of women-led firms declared their business operations as strongly affected, compared with 52 per cent of men-led companies.
More than 90 per cent of women entrepreneurs reported a decrease in sales during the pandemic and have less cash flow to survive and sustain their businesses, according to another survey from WEConnect International.
To support women’s businesses, aid their post-Covid-19 recovery, and close the $42 billion financing gap for African women across business value chains, Comesa has provided the 50 Million African Women Speak Platform (50MAWSP), which is accessible at www.womenconnect.org or as an app on the Google Play and Apple stores.
“The 50 Million African Women Speak platform is a practical solution to help women in the region to start afresh, or, to simply start,” Comesa Secretary General Chileshe Mpundu Kapwepwe said.
She added, “Women can use the platform to access tools for business training, mentorship and financial products. They can engage each other across the continent, especially during this pandemic where they need to trade digitally.”
“The 50 Million platform is [going] to help me expand my market,” Shuwena Salim, an entrepreneur from Zanzibar who has been exporting her products to mainland Tanzania, Kenya and Burundi said.
To popularise the platform, Comesa has launched the ’30 Days of Women in Business’ campaign to celebrate women entrepreneurs in the region and offer them an opportunity to connect with their role models using the 50 Million African Women Speak platform.
Building back better economies in Comesa member states post-Covid-19 demands choosing to challenge gender stereotypes and biases.
Ensuring women’s full economic empowerment through platforms such as the 50MAWSP is crucial to increase productivity levels, enhance economic efficiency, and improve overall development outcomes to achieve inclusive growth. BY THE STAR