A Group of Ten Female Entrepreneurs Revolutionizing the Technology Landscape Across Africa
In the bustling tech landscape of Africa, a new generation of trailblazing women founders is making waves by addressing local issues and driving innovation across various sectors. From financial technology and healthcare to education and manufacturing, these visionary leaders are leaving an indelible mark on the continent.
Temie Giwa-Tubosun, recognised for her work in improving healthcare logistics across Africa, is one such leader. Her venture, LifeBank, has successfully expanded its medical supply chain operations across Nigeria. Similarly, Hilda Moraa is driving financial access in Kenya through Pezesha, a digital lending marketplace that connects Micro, Small, and Medium Enterprises (MSMEs) with lenders using alternative data.
Rebecca Enonchong, a prominent figure in African technology, actively supports entrepreneurship and pushes for advancements in tech startups. Her efforts, along with those of Judith Owigar, who co-founded Akirachix to equip young women with technical skills, are shaping Kenya's tech scene.
Notable advancements also include apps tailored for businesses (Pezesha), pioneering digital manufacturing tools (3DIMO), and ventures focused on promoting tech education for women (Akirachix).
However, a significant disparity exists in the funding trends for women-led tech startups compared to their male counterparts. Despite increased attention to gender inclusion, women-led startups continue to face substantial challenges in securing capital and scaling their ventures.
Between January and May 2025, women-led startups accounted for only 9% of funded startups and attracted a mere 0.9% of total capital, approximately $9.5 million out of $1.055 billion raised in that period. Since 2019, female co-founders made up 25% of startups that raised funding but received only 17% of the total $14 billion+ raised. Female-led startups received just 13% of deals but only 5% of capital, averaging 2.5 times less capital per deal compared to male-led startups.
Lack of strong local equity markets, regulatory complexity, infrastructure gaps, cybersecurity concerns, lower average deal sizes, and fewer funding rounds compound the difficulties in securing sustainable growth capital for women-led startups. Structural gender biases and less access to networks and mentorship also contribute to fewer opportunities for women entrepreneurs.
To overcome these challenges, women-led startups are increasingly relying on specialized funding initiatives, impact-driven business models, strategic partnerships, and focusing on high-growth sectors like fintech that align with investor interests. Programs like Visa Foundation’s *RevUp Women* offer funding, mentorship, and access to networks for early-stage women-led startups.
Many women-led startups integrate sustainability or social entrepreneurship models to attract impact investors despite capital challenges. They also build strategic partnerships and co-foundership models to bolster credibility and capabilities, helping to overcome investor skepticism.
Industry experts advise African startups, including women-led ventures, to emphasize profitability and sustainability to attract more risk-averse funding in challenging market conditions. Odunayo Eweniyi, the co-founder of PiggyVest, a digital platform that simplifies personal money management, is a prime example of this approach.
In the fintech sector, which is a significant part of Africa’s startup ecosystem, female-led startups received only 6.8% of total investment in 2024, the lowest ever share. However, women-led startups are innovating in payments, lending, and alternative credit models like buy-now-pay-later to align with investor trends and market needs.
Ire Aderinokun is making a notable impact on Nigeria's cryptocurrency industry as the co-founder of BuyCoins, while Nneile Nkholise is making waves in healthcare by combining technology with patient-focused solutions to produce custom medical devices through 3DIMO.
These founders consistently identify key factors that contribute to their achievements, even as they face persistent hurdles in the market. Their resilience and innovation serve as a testament to the potential of women-led tech startups in Africa, despite the persistent and widening funding gap they continue to face.
- In the fintech sector, which is a significant part of Africa's startup ecosystem, women-led startups are innovating in areas like payments, lending, and alternative credit models to align with investor trends and market needs, as demonstrated by Ire Aderinokun with BuyCoins in Nigeria's cryptocurrency industry.
- To overcome the challenges in securing sustainable growth capital, women-led startups are turning to specialized funding initiatives, impact-driven business models, strategic partnerships, and focusing on high-growth sectors like fintech, such as Hilda Moraa with Pezesha, driving financial access in Kenya through a digital lending marketplace.
- While the funding gap for women-led tech startups continues to widen, industry experts recommend that startups, including women-led ventures, should emphasize profitability and sustainability to attract more risk-averse funding, as Odunayo Eweniyi did with PiggyVest, a digital platform simplifying personal money management in challenging market conditions.
