African economies are recognizing the importance of technology and speeding up the digitization process. Digital applications are driving socio-economic transformation, opening avenues for millions to grow and earn.
Representing this incredible progress, 69% of women now own a mobile phone across Sub-Saharan Africa.
Today, many women entrepreneurs and leaders are impacting the business world. Sub-Saharan Africa boasts the highest rate of 27% women entrepreneurs. The MasterCard Index of Women Entrepreneurs 2017 listed Uganda (34.8%) and Botswana (34.6%), as countries with the highest percentage of women entrepreneurs globally.
A report by The Women in Tech Africa Summit 2019 showed that technology ventures led by women generated 35% higher returns than those led by men despite receiving 50% less funding.
According to research by Global Institute for Research and Education (GIFRE) in 2016, most of the SACCOS in Tanzania led by female managers and chairpersons are more successful than those led by male managers.
What role women in tech playing in Africa
Women today are playing a key role in the socio-economic development of societies across Africa. They are highly engaged in various business activities, including the field of exploring and promoting technology.
Women in tech are positively impacting the world, focusing on three crucial aspects.
1. Empowering women economically
Many female entrepreneurs are leading ventures and organizations that work towards raising women’s living standards. They aim to provide financial services to women, especially in rural areas. mHub is a women-led startup that aims to provide finance to youth and women-led tech startups. mHub financed $800,000 to youth and women entrepreneurs, which created 304 jobs between 2018 and 2019.
Read more: How technology can drive women towards formal financial services
2. Promoting capabilities and interest of African women
Women are becoming an integral part of the top and middle-level management in various organizations. It is essential to create equal opportunities to promote their capabilities and interests. Tech Women Network offers a platform for women in tech to showcase their capabilities and skills. The founder of the platform, Jumoke Dada is also involved with HUE Tech Summit, an event for women to enhance their skills and connect in the industry.
3. Bridging the digital divide
It is now more important than ever to ensure access to the internet and digital skills amongst women. AfChix and the Internet Society have partnered to boost internet access for African women. They aim to support women to use internet resources and applications to boost digital transformation, network development and drive growth in their countries.
Wakandi playing a part
At Wakandi, we recognize the importance of women in tech and how they can play a crucial role in building a better society. We want women to play a key role in our journey towards digital transformation in Africa.
We believe in an open organization that offers equal opportunities to both genders. That is why we are working with many women employees at the heart of our organization.
Our women team players are leading our team in Tanzania, reaching newer and bigger milestones every single day. Recently, we conducted an exhibition in Morogoro, Tanzania, to celebrate the occasion of International Credit Union Day. It was a notable opportunity for us to interact directly with credit unions to understand their problems and show how our CAMS product can help solve them.
Want to know how CAMS can help your SACCO or credit union grow through technology? Reach us out for a live demo today!
The potential impact that women can make in the world is immense. It is the matter of providing equal opportunities and skill development that can speed up the progress of women in tech.