Uganda leads Africa in countries that have a high number of women-owned enterprises as a percentage of total business owners despite poor entrepreneurial supporting factors.
Uganda was followed by Ghana and Botswana in second and third place respectively, in a group of 58 markets around the world profiled by the Mastercard Index of Women Entrepreneurs (Miwe) 2019.
by By PAULINE KAIRU for The East African
A banana farmer harvests her crop in Uganda. More women are becoming entrepreneurs. PHOTO | FILE | NATION MEDIA GROUP
Miwe highlights the progress of women entrepreneurs based on publicly available data from organisations like the International Labour Organisation, Unesco and the Global Entrepreneurship Monitor.
The index tracks the gender gap among business owners, comparing their numbers against those of men-owned enterprises and considers women business owners who employ at least one person other than themselves.
Despite being poorer, less developed and lagging behind in terms of knowledge assets, financial access and support for entrepreneurs, Uganda, Ghana, Botswana, Malawi and Angola made it to the top 10 globally.
Uganda is ranked first at 38.2 per cent of female owners as a percentage of total business owners, Ghana is second with 37.9 per cent, Botswana third with 36 per cent, Malawi is seventh with 31.1 per cent, and Angola ninth with 30.3 per cent. This means that in Uganda and Ghana, nearly four in every 10 business owners are women. According to the researchers owf these markets, this suggests that in these economies, women are just as inclined as men to engage in entrepreneurship.
Amongst the five East African countries only Uganda is featured. No reason is given for not considering the other EAC countries.
The US was ranked fourth with 35.1 per cent of women led businesses, followed by New Zealand at fifth position and Russia at position six with 31.8 per cent and 31.2 per cent respectively. Business ownership rate is lowest in Saudi Arabia with only an average of only 1.6 per cent business owners being women.