WIMAFRICA seeks greater economic power for African women
Women in Management Africa (WIMAFRICA) is advocating for enhanced economic power for African women, emphasizing greater access to finance, markets, and decision-making roles. This call was made ahead of its maiden African economic forum in Lagos.
Intelligence analysis by Gemini 2.5 Flash
WIMAFRICA is organizing a two-day conference in Lagos to address the economic empowerment of African women, aiming to shift them from mere participation to influential decision-making positions. The forum will highlight challenges like limited finance and infrastructure, while exploring opportunities under the African Continental Free Trade Area.
Imagine a big playground where some kids have all the best toys and get to decide all the games, even though other kids are really good at playing too. WIMAFRICA is like a group of grown-ups who want to make sure all the girls on the African playground get their fair share of toys, learn how to play new games, and even help make the rules, so everyone can have more fun and build amazing things together.
Analysis
The Women in Management Africa (WIMAFRICA) forum represents a significant push to reframe the narrative around African women's economic contributions, moving beyond their current substantial but often undervalued roles. The organization's focus is not merely on increasing participation but on securing positions where women can actively shape economic policies, trade agreements, and resource allocation. This strategic shift is vital for ensuring that economic growth is equitable and reflective of the diverse contributions of the continent's population.
Dr Ngozi Oyewole
Dr. Ngozi Oyewole, Chairperson of WIMAFRICA, articulated a clear vision for this power shift, emphasizing that African women are already foundational to local markets, manufacturing, agriculture, and entrepreneurship. Her remarks underscore a critical paradox: despite their significant productive capacities, women consistently face hurdles in accessing capital, markets, and decision-making platforms. Oyewole's advocacy extends to urging financial institutions to innovate products tailored to women-owned businesses, particularly those in manufacturing, which often struggle with working capital despite confirmed orders. She also called for government and corporate entities to improve procurement access and ensure timely payments for women-led enterprises, highlighting that policy effectiveness should be measured by tangible contract awards and payment efficiency.
African Continental Free Trade Area
The African Continental Free Trade Area (AfCFTA) is identified as a pivotal mechanism for fostering greater economic integration and opportunity, particularly for women. The WIMAFRICA conference aims to educate women entrepreneurs on how to leverage AfCFTA's provisions, focusing on local manufacturing, backward integration, and the development of robust African supply chains. However, a significant challenge remains the lack of practical knowledge regarding AfCFTA's rules of origin, documentation requirements, and cross-border market access procedures among many women-owned businesses. Addressing these knowledge gaps through targeted education and institutional support is essential for women to fully capitalize on the continental market's potential, transforming their businesses from local ventures to regional powerhouses.
Dr Sulochana Segera
Dr. Sulochana Segera, the Founder and Chairperson of the global Women in Management (WIM) platform, highlighted the strategic importance of bringing this global initiative to Africa. Her organization, which originated in Sri Lanka 16 years ago and has since expanded to 29 countries, aims to connect African women to a broader network of international business, trade, and investment opportunities. The partnership with Dr. Ngozi Oyewole is designed to amplify the visibility of African women's achievements through platforms like the WIM Top 50 recognition. This initiative seeks to acknowledge women's talents, resilience, innovations, and contributions beyond their professional titles, fostering cross-border collaboration and expertise exchange. The global reach of WIM can provide African women with invaluable mentorship, market access, and investment linkages, accelerating their economic empowerment and influence on the global stage.
Key points
- WIMAFRICA advocates for greater economic power for African women, focusing on access to finance, markets, and decision-making.
- The maiden African edition of the Women in Management global economic forum will be held in Lagos, themed 'The Power Shift: Women Driving Africa’s Global Economic Influence'.
- Dr. Ngozi Oyewole highlighted that African women contribute significantly but lack adequate access to capital and decision-making platforms.
- The conference will explore opportunities under the African Continental Free Trade Area (AfCFTA) for women in manufacturing and supply chains.
- Key obstacles include limited finance, poor infrastructure, lack of AfCFTA knowledge, cultural restrictions, and land ownership challenges.
- Dr. Sulochana Segera noted the global WIM platform aims to connect African women to international business and investment opportunities.
If WIMAFRICA's efforts succeed, African women could gain significantly improved access to finance, markets, and decision-making roles, leading to a more inclusive and robust continental economy. Enhanced participation in manufacturing and trade, supported by better infrastructure and AfCFTA knowledge, could unlock substantial economic growth and reduce gender disparities.
Despite advocacy, persistent challenges such as limited access to capital, inadequate infrastructure, and entrenched cultural restrictions could continue to hinder women's economic advancement. Without concrete policy changes and sustained institutional support, many women-owned businesses may struggle to scale and fully leverage continental trade opportunities.
