Women transforming Africa's manufacturing landscape
On how women entrepreneurs are shaping the future of manufacturing and also positioning Africa as a competitive player in global markets, CNBC Africa is joined by Frida Owinga, Regional Director for WEConnect International in Africa for more insights.
Fri, 22 Nov 2024 10:06:27 GMT
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AI Generated Summary
- Women entrepreneurs are driving innovation and sustainability in key sectors like textiles, agribusiness, and green manufacturing, redefining the future of manufacturing in Africa.
- Challenges such as limited access to finance, traditional lending practices, and lack of tailored skills development programs hinder the growth of women-led businesses in the manufacturing sector.
- Advocacy for gender-responsive policies, improved networking and mentorship opportunities, technological advancements, and support from organizations like WEConnect International are essential for empowering women in manufacturing and fostering economic growth.
Women entrepreneurs are revolutionizing Africa's manufacturing landscape, driving innovation, inclusivity, and sustainability in key sectors such as textiles, agribusiness, and green manufacturing. With women owning approximately 30 percent of manufacturing businesses in Africa, there is a growing focus on the pivotal role they play in value addition, turning raw materials into export-ready goods and boosting trade under the African Continental Free Trade Area (AfCFTA). These women are not just challenging traditional norms but also redefining the future of manufacturing on the continent. Frida Owinga, Regional Director for WEConnect International in Africa, highlighted the significant strides that women have made and the obstacles they continue to face in the industry. She emphasized the need for improved access to finance, tailored loan products, grants, and partnerships with financial institutions to support women entrepreneurs. Many women struggle to access funding due to traditional lending practices that often require collateral, which they may not have. Additionally, skills development programs must be tailored to accommodate women's caregiving responsibilities, offering flexible learning opportunities and mentorship. Advocating for gender-responsive policies that ensure equal access to opportunities and resources is crucial for enabling women to thrive in the manufacturing sector. In Kenya, initiatives like the access to government procurement opportunities have been introduced to empower women in business, but more support is needed to overcome challenges such as internet access and training. Networking and mentorship play a vital role in empowering women-led businesses, but these opportunities must be offered with a gender lens, considering the unique demands on women's time. Technology and innovation are essential for promoting access to modern tools and equipment that enhance productivity and efficiency in manufacturing. Therefore, supporting women in adopting these technologies is key to their success. At WEConnect International, efforts are focused on helping women-owned manufacturing businesses access new markets and scale by connecting them to global corporate buyers and procurement opportunities. By registering for free on the platform, women can showcase their businesses to potential buyers and increase their chances of winning bids. Certification processes and training resources further strengthen women-owned businesses, empowering them to grow and create job opportunities within local communities. This support fosters economic growth and sustainability in the manufacturing sector, paving the way for a brighter future for women-led businesses in Africa.