Africa’s Top Women Entrepreneurs Show Resilience Despite Covid-19

ADDIS ABABA – Women-owned businesses are faring better than expected with relatively high levels of resilience despite the ongoing Covid-19 pandemic, a new report funded by the African Development Bank shows.

The Lionesses Business Confidence Report, prepared by the Lionesses of Africa Public Benefit Corporation and New York University, was published today to coincide with International Women’s Day.

The report shares insights derived from a survey of Africa’s leading women entrepreneurs.
Its major findings include that women entrepreneurs surveyed indicated that their businesses were resilient during the pandemic.

Fifteen percent responded that their businesses were not impacted by the pandemic at all; 44% had already recovered or expected to by end 2021; and 34% expected to recover to pre-Covid-19 levels during 2022.

Only 5% expected their business recovery to happen sometime in 2023 or beyond, the report says.

The report leverages Lionesses of Africa’s established 100 Lionesses network, a project that identifies and celebrates leading African businesswomen who by example inspire other women to pursue their dreams to found successful businesses.