Africa holds the world's highest share of female entrepreneurs, yet persistent lending gaps undermine their operations. In Nigeria, female founders face a 56% loan rejection rate compared to just 17% for men, alongside skepticism from investors who often mistake male colleagues for business owners. Entrepreneurs like Ifedolapo Runsewe and Kyokushaba Shine are nonetheless expanding critical ventures in manufacturing and climate-resilient farming. Runsewe's recycling company now employs roughly 62 people while sourcing waste materials across four Nigerian states.
Key points
African female founders face disproportionate hurdles when seeking capital despite drivin…: African female founders face disproportionate hurdles when seeking capital despite driving a massive share of the continent's small enterprises.
Persistent investor biases frequently lead to doubts over female business leadership and…: Persistent investor biases frequently lead to doubts over female business leadership and ownership within capital-intensive manufacturing industries.
Women-led startups are successfully delivering targeted solutions to pressing environment…: Women-led startups are successfully delivering targeted solutions to pressing environmental, waste management, and agricultural vulnerabilities across Africa.
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Africa is thought to have a higher proportion of female entrepreneurs than any other continent and yet many still struggle to access financing. Four business leaders from Nigeria, Uganda, Kenya and Malawi tell us about the inspiration behind their success – and the challenges women still face.
Ifedolapo Runsewe, Nigeria: giving waste tyres a new life
On the outskirts of Ibadan in south-west Nigeria, thousands of discarded tyres are fuelling an industrial experiment.
They arrive at Freee Recycle’s factory where they are sorted, shredded and reduced to rubber granules. Some will become playground surfaces. Others will be turned into gym flooring, paving blocks and interlocking tiles.
Ifedolapo Runsewe, the company’s founder, is building an industrial recycling business in a sector where women rarely own factories or lead manufacturing operations.
In Nigeria, women own about 40% of small businesses, but 56% of female entrepreneurs’ last loan applications were denied, compared with 17% for men, according to the World Bank. In capital-heavy fields such as recycling, this financing gap may prevent female entrepreneurs becoming factory owners.
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