Africa has double the average rate of women-led fintechs, but less than 5% of funds went to fintechs led only by women. Female techpreneurs also face lower valuations, and more oversight.
Africa has double the average rate of women-led fintechs, but from 2013 to 2021 less than 5% of $12.6 billion in funding to Africa's tech startups went to fintechs led only by women
For female entrepreneurs, however, getting their innovations off the ground is often hampered by gender biases that stifle their ability to access finance, gain exposure and grow their businesses, industry experts and women founders said. From 2013 to 2021, less than 5% of the total $12.6 billion in funding to Africa's tech startups went to all-female founding teams compared with 82% to all male-ones, data shared by Briter Bridges showed.
When financial analyst Oluwatosin Olaseinde moved back home to Nigeria in 2013 after a decade studying and working abroad, she decided it was time to tackle her own finances, so started reading up on stocks and mutual funds.
Female techpreneurs are taking their place in Africa s male-dominated fintech boom, but gender bias makes it harder for them to access finance and grow their .