Kaba: Data important to track gender equality progress & policy action

The Managing Director of Falémé Conseil, Malado Kaba, emphasizes the importance of data in tracking progress towards gender equality in Africa. In a recent interview with CNBC Africa, Kaba highlighted the significance of increased capital allocation and investment funds designed to support women entrepreneurs. She underscored that these initiatives are vital for establishing track records and credibility with investors necessary to scale women's contributions. According to Kaba, building financial inclusion is crucial, especially in a world where external aid is declining, and self-reliance is becoming increasingly important. Kaba pointed out that while women are already active in the economy, their participation is mainly within the informal sector. She stressed the need for government officials, such as budget ministers and central bank governors, to address the issue of informality and work towards transforming this sector to create more opportunities for women. During the conversation, Kaba addressed the disparity in funding for women-led enterprises, noting that women receive less than 7% of total private equity and venture capital funding in Africa. She highlighted the impact of this gap on economic growth, job creation, and revenue generation. Kaba also raised a critical question about why African female fund managers struggle to raise sufficient capital compared to their male counterparts. She emphasized the importance of empowering female fund managers as key channels for directing funding to women entrepreneurs on the continent. The interview delved into the issue of gender bias in capital allocation, highlighting the lack of representation of women in senior positions within the private equity and venture capital sectors. Kaba underscored the need to support and increase funding for female fund managers, especially during the initial stages of fund inception. She emphasized the need for data to track investment decisions and called for measures to address homophily and investor bias that hinder women fund managers' success. Kaba stressed the importance of increasing women's representation in leadership positions within investment funds and advocated for initiatives like Boardroom Africa, based in Ghana, which support women's advancement in the boardroom. She warned that without addressing the challenges faced by women fund managers, African women entrepreneurs will continue to struggle to access essential financing. Kaba's insights shed light on the critical steps needed to empower women entrepreneurs in Africa and bridge the existing funding gap through targeted policy actions and increased support for female fund managers.