Connect with us

VenturesNow

Why 2021 MasterCard Index of Women Entrepreneurs holds promise for Africa — President, Harvest Foundation 

Published

on

The MasterCard Index of Women Entrepreneurs (MIWE)2021 report, released at the end of March, 2022, has continued to attract reviews from key institutions within the African continent.

The latest of such reactions emerged Tuesday, as the President, Harvest Foundation, Mrs Adaoha Ugo-Ngadi, spoke against the backdrop of MIWE 2021 report which highlighted 13 best African countries for women entrepreneurs.

In the 118-page report, Botswana, South Africa, Ghana, Madagascar, Uganda, Nigeria, Ethiopia, Angola, Tunisia, Morocco, Algeria, Malawi and Egypt were named as top destinations for people seeking a safe haven for women entrepreneurs in Africa.

MIWE 2021 involved a survey of 65 countries, and Botswana at 35 was Africa’s best performing country. The top positions, expectedly, were occupied by entities from North America, West and Eastern Europe, and Asia.

According to MasterCard, its sample size of 65 economies represents 82.4% of the world’s female labour force.

Speaking to the report on Tuesday, Mrs Ugo-Ngadi said that though the revelations showed a comparatively weak performance by African economies, they should be regarded as a challenge to managers of the continent’s economies.

“The MIWE report is, no doubt, an incisive and compelling read. Africa’s best performance standing at 35 out of 65 indicates that a lot more work needs to be done to redress the narrative.

“The reason for this weak performance is not far-fetched. African governments are more guilty of United Nations findings which note that only 10% of all policy measures put in place globally are gender sensitive and are geared towards addressing women’s needs,”Ugo-Ngadi noted in a statement.

The release added: “Reworking the African narrative must be deliberate and well thought out. African leaders, from Cape to Cairo, must open up themselves to fresh understanding of where the global economy is headed. The reality is that across the entrepreneurial landscape, women have become one of the essential elements defining the global economy’s most valuable assets.

“African leaders must come to a realization that African women entrepreneurs hold the key to a regeneration of the continent’s economy, and this is why the Harvest Foundation has committed to piloting the first-ever African Woman International Trade Fair.

Ugo-Ngadi also called for the urgent removal of the barriers stopping African women from reaching their full potential saying, “Women have the numbers. There is an immediate need to factor that into policy making if African female entrepreneurs hope to increasingly occupy an improved place in the 37% accounting for global GDP.”

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

VenturesNow

COVID-19: Friendship renewed as Algeria opens land border with Tunisia

Published

on

Algerian President, Abdelmadjid Tebboune has announced that it will reopen the land border between the two countries in mid-July.

The border, which starts in the north at the Mediterranean coast, proceeding overland in a broadly southwards directions via a series of overland lines was closed in 2020 during the peak of Covid-19.

Abdelmadjid Tebboune made the announcement at Algiers airport alongside his Tunisian counterpart Kais Saied who was preparing to leave the country after attending the festivities marking the 60th anniversary of Algeria’s independence.

“We have taken a joint decision to reopen the land borders from July 15.”

Until the pandemic, more than three million Algerians travelled to Tunisia each year, according to local media.

Generally speaking, relations between Algeria and Tunisia have so far been homogenous. Although Algeria postponed the opening of it borders with Tunisia in May.

Continue Reading

VenturesNow

The Gambia benefits from World Bank’s $68m grant to revive tourism industry

Published

on

The Gambia and the World Bank have sealed a $68m grant deal which will go to support the West African country’s tourism industry, hitherto the biggest contributor to its Gross Domestic Product (GDP), before the Coronavirus pandemic hit the global tourism sector, causing a near economic meltdown.

World Bank’s Managing Director of Operations, Axel Van Trotsenburg, who announced the signing of the deal at a ceremony in Gambia’s capital, Banjul, on Tuesday, said the grant is meant to support the diversification and climate resilience of the country’s tourism after the pandemic and economic crisis.

Trotsenburg added that promoting the diversification and climate resilience of tourism will help protect the Atlantic coastline of The Gambia from the effects of climate change.

About 20 per cent of The Gambian economy depends on earnings from its tourism as it is the largest foreign exchange earner for the government but the advent of the pandemic had caused the country’s economic growth to contract by 0.2 percent in 2020, according to the World Bank.

This was as a result of the global restrictions on travelling between 2020 and 2021, which prevented tourists and visitors going to the country, leading to the tourism industry taking a huge hit.

Continue Reading

EDITOR’S PICK

Politics1 hour ago

Court summons Tunisian opposition leader, Rached Ghannouchi, over money laundering

Tunisian opposition party, Ennahda has revealed that its leader, Rached Ghannouchi has been summoned by a judge over money laundering...

Politics5 hours ago

Exiled former Burkina Faso’s president, Blaise Compaore, to return home

Burkinabe authorities has revealed that former president of Burkina Faso, Blaise Compaore will return from exile for the first time...

Metro15 hours ago

Malian migrants, including children, die as makeshift Europe-bound boat capsizes in Libya

Twenty-two Malian migrants including three children, have been killed when their makeshift Europe-bound boat capsized in the Mediterranean Sea off...

Metro17 hours ago

Monkeypox: WHO records over 6,000 cases in 58 countries in recent outbreak

According to the World Health Organization, more than 6,000 cases of monkeypox have now been reported from 58 countries in...

Politics18 hours ago

Rwanda, Congo DR settle for peace as Kagame, Tshisekedi agree to de-escalate tension

It appears the sun is setting on the diplomatic tension between the Democratic Republic of Congo and Rwanda president of...

VenturesNow19 hours ago

COVID-19: Friendship renewed as Algeria opens land border with Tunisia

Algerian President, Abdelmadjid Tebboune has announced that it will reopen the land border between the two countries in mid-July. The...

VenturesNow20 hours ago

The Gambia benefits from World Bank’s $68m grant to revive tourism industry

The Gambia and the World Bank have sealed a $68m grant deal which will go to support the West African...

VenturesNow20 hours ago

Ghana wants $1.5 billion from IMF to solve economic riddle. Will they get it?

Following Ghana’s decision to run back to the International Monetary Fund amidst its economic woes, the West African country has...

Metro20 hours ago

Nigerian-born OPEC Secretary-General, Mohammed Barkindo, dies hours after presidential reception three weeks to departure

The Nigerian-born Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), Mohammed Barkindo, has died a few hours after he...

Sports21 hours ago

Three foreign-born players switch allegiance to Ghana: Can the trio help the Black Stars go far in Qatar?

Three foreign-born footballers, Tariq Lamptey of Brighton & Hove Albion, Southampton’s Mohammed Salisu as well as Inaki Williams of Athletic...

Trending