According to the latest global ranking conducted by the Mastercard Index of Women Entrepreneurs (MIWE) Uganda has emerged as the top country in World with the most women entrepreneurs and next to them is Ghana.
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The ranking report states that out of every 10 business owners in second place Ghana 4 are women. Other African nations that made it into the top 10 include; Botswana (3), Malawi (rank 7) and Angola (rank 9).
The report assessed 58 countries globally and shows that even in a time when launching and operating a successful business venture is getting tougher, women around the world are doing it more frequently and with more success rate than ever.
There are a plethora of challenges ranging from cultural to economic, technical to educational not to mention social norms and child-care that should inhibit African women but more and more women in the continent are surmounting this hurdles and achieving the CEO status some might even say at a faster rate than their male counterparts.
“More importantly, it brings to light how much more women can contribute economically and socially if such barriers are removed, or systems improved,” the report said.
A deeper dive into the report explains that women, unlike men, often are not driven to become business owners solely based on desire or advancement of career or social status but often out of necessity especially in Ghana, Botswana, Russia, Malawi, Angola and Brazil.
The report shows that women in Ghana have a high rate of participation in the labour force, women leadership activities and show more entrepreneurial drive above their male counterparts.
“Their ability to thrive in these aspects explain their particularly high standing in society as business owners, despite poor underlying entrepreneurial supporting factors,” the report added.
Women in Ghana tend readily open a bank account probably due to their high involvement in business activities.