Ghana ranks second in the global ranking of countries with most women entrepreneurs according to the 2019 Mastercard Index of Women Entrepreneurs (MIWE).
The Mastercard Index of Women Entrepreneurs (MIWE) 2019 is the 3rd report profiling the progress and achievement of women entrepreneurs/business owners across 58 societies around the world. With Angola as the newest market added to the Middle East & Africa region, the Index expands its attempt to track the factors that underpin the gender gap among business owners.
The idex which provides insights into the progress and achievements of women in business found that nearly 4 out of every 10 business owners in Ghana are women which is the second-highest in the world after Uganda.
Sub-Saharan countries that made it to the Top 10 globally in terms of Women’s Business Ownership rates include Uganda (rank 1), Botswana (rank 3), Malawi (rank 7) and Angola (rank 9).
According to the report, despite many challenges, female entrepreneurs are opening successful businesses faster than ever before.
The report also highlighted the challenges of women business owners in Sub-Saharan Africa. The report stated that access to the internet and funding, restrictive cultural and social norms among others pose a huge challenge to women entrepreneurs in SSA.
The report further revealed that in comparison to their regional peers in Malawi, Uganda, and Angola, women in Ghana tend to be more inclined to have a bank account, likely due to their higher level of engagement in business activities.
For instance, nearly 40 percent of women in Ghana have an account at a bank or financial institution compared to only around 20% in Angola, Malawi, and Nigeria.
Source: Citi Business News
Cover image: Hamamat