Categories
Our stories Our Voices

Our stories Our Voices

Banking on women is banking on Africa’s future

24 April 2026

Across Africa, women are among the continent’s most powerful economic catalysts.  Women are starting businesses at the highest rates globally, sustaining SMEs and reinvesting earnings back into families and communities. Yet despite their contribution, women entrepreneurs continue to face systemic barriers to finance, leadership and opportunity.

In this thought leadership piece published by Forbes Africa, Prabashni Naidoo, Chief Governance Officer at Absa Group, explores why unlocking women’s economic agency is essential to Africa’s growth story. Drawing on insights from global economic discussions and Absa’s pan-African experience, the article makes a clear case: investing in women-led enterprises is a growth strategy.

As a purpose-led African financial institution, Absa remains committed to co‑creating inclusive systems that enable women not only to participate in the economy, but to shape its future.

A new wave of economic possibility is emerging across our continent. We are at an inflection point driven by millions of women who are building, trading and redefining the future of work. 

The entrepreneurial energy reverberating from Nairobi to Johannesburg is positioning Africa as a global growth frontier. However, unlocking the full potential of this economic force requires essential catalysts: equitable access capital, opportunity to lead, and systems that work for women.

Globally, women are not waiting for the future; they are actively building it. African women register the highest rate of entrepreneurial activity in the world, with nearly one in four starting their own business. They account for over 40% of SMEs and make up more than half of the continent’s self-employed workforce, contributing approximately 13% to Africa’s GDP. Yet, despite this undeniable economic presence, women-owned enterprises still face a financing gap exceeding $42 billion. This is not a reflection of their potential but of systems that have not fully adapted to the reality.

The issue is not simply access to capital; it is whether capital enters an ecosystem that enables women to convert opportunity into business stability, and stability into economic growth. Too many women entrepreneurs operate in informal or hybrid markets, often clustered in lower-margin sectors such as retail and hospitality, while higher-revenue industries like manufacturing, construction, and fintech remain male-dominated. As other African business leaders have also emphasized, investing in women is an investment in the other half of a country’s population. It is an opportunity to transform entire economies. This is not a moral appeal, but rather an economic truth that we should continue to grapple with until we see the change.

Leadership plays a decisive role in this transformation. There is a clear and positive correlation between women in leadership and a stronger focus on women’s financial inclusion. At Absa, we recognize that our ability to share inclusive economic outcomes begins within our organization. We drive women’s economic resilience through integrated financial and skills support, strengthened by Pan-African initiatives and strategic global partnerships.

24 April 2026

Across Africa, women are among the continent’s most powerful economic catalysts.  Women are starting businesses at the highest rates globally, sustaining SMEs and reinvesting earnings back into families and communities. Yet despite their contribution, women entrepreneurs continue to face systemic barriers to finance, leadership and opportunity.

In this thought leadership piece published by Forbes Africa, Prabashni Naidoo, Chief Governance Officer at Absa Group, explores why unlocking women’s economic agency is essential to Africa’s growth story. Drawing on insights from global economic discussions and Absa’s pan-African experience, the article makes a clear case: investing in women-led enterprises is a growth strategy.

As a purpose-led African financial institution, Absa remains committed to co‑creating inclusive systems that enable women not only to participate in the economy, but to shape its future.

A new wave of economic possibility is emerging across our continent. We are at an inflection point driven by millions of women who are building, trading and redefining the future of work. 

The entrepreneurial energy reverberating from Nairobi to Johannesburg is positioning Africa as a global growth frontier. However, unlocking the full potential of this economic force requires essential catalysts: equitable access capital, opportunity to lead, and systems that work for women.

Globally, women are not waiting for the future; they are actively building it. African women register the highest rate of entrepreneurial activity in the world, with nearly one in four starting their own business. They account for over 40% of SMEs and make up more than half of the continent’s self-employed workforce, contributing approximately 13% to Africa’s GDP. Yet, despite this undeniable economic presence, women-owned enterprises still face a financing gap exceeding $42 billion. This is not a reflection of their potential but of systems that have not fully adapted to the reality.

The issue is not simply access to capital; it is whether capital enters an ecosystem that enables women to convert opportunity into business stability, and stability into economic growth. Too many women entrepreneurs operate in informal or hybrid markets, often clustered in lower-margin sectors such as retail and hospitality, while higher-revenue industries like manufacturing, construction, and fintech remain male-dominated. As other African business leaders have also emphasized, investing in women is an investment in the other half of a country’s population. It is an opportunity to transform entire economies. This is not a moral appeal, but rather an economic truth that we should continue to grapple with until we see the change.

Leadership plays a decisive role in this transformation. There is a clear and positive correlation between women in leadership and a stronger focus on women’s financial inclusion. At Absa, we recognize that our ability to share inclusive economic outcomes begins within our organization. We drive women’s economic resilience through integrated financial and skills support, strengthened by Pan-African initiatives and strategic global partnerships.