Why African venture capital must target local female entrepreneurs
- Venture capital funding in Africa grew from $277 million in 2015 to $4.7 billion in 2023.
- Female-founded ventures attracted only 2.3% of total funding as of 2024.
- For every $1 raised by African startups in 2023, 75¢ went to all-male founding teams.
The stark disparity in funding for female-founded ventures in Africa is a critical issue that needs urgent attention. It reflects not only gender bias but also a missed opportunity for economic growth and innovation. Addressing these systemic barriers through increased representation and support for women in the VC space is essential for fostering a more inclusive and dynamic entrepreneurial ecosystem.
