AFFC Emphasises Need to Help African Women Entrepreneurs

Africa Female Founders Collective (AFFC) has announced that women entrepreneurs from Africa shall get help from them. AFFC has assured the female-led firms that they will get good opportunities for their growth.

Ibijoke Faborode who’s the founder of ElectHer and AFFC, gave this statement after The Big Deal which is a data insight firm reported that startups with solo male founders get 85% of all funding. This percentage seems certainly unfair. According to Ibijoke, if women don’t get equal opportunities or funding, then they can never show their true potential. Women entrepreneurs should get good funding which is equal to men.

Ibijoke expressed her opinion saying, “Women business owners deserves better chance with investors when they are part of a collective. It is in the collective that they find support, mentorship and other women who keep them accountable and inspire them to achieve more.”

Blessing Adesiyan who’s the founder of Caring Africa also exclaimed that despite having more women working in the market, they lag on showing up where investors can find them. Blessing has once collaborated with Ibijoke for ‘Night With Nigerian Female Founders’.

Blessing stresses on why this is happening, “Women are generally known for their caregiving nature, or they are caregivers, when men are known as the providers. The women have to stay back and take care of the home and other obligations. For women to take their rightful place in the business, the issue of caring needs to be solved. Women should have support at home, which gives time to pursue their goals and objectives.”

Moreover, Omotade Alalade, the founder of Moobi Baby also said, “women-led businesses that are succeeding possess two attributes two of those attributes are structure and the ability to keep numbers, which are critical when pitching to investors or meeting debt finance institutions for funding.”

She added, “Most female founders do not keep their business properly. Alalade says it is not just important to keep records and know the numbers, record keeping must start from the first day the business starts.”

Women can get good opportunities and grow in their business which shall be a great benefit for the economic progress, if we, as society, support them in all aspects.