African women urged to harness green economy potential

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ImpactHER Africa has said African female entrepreneurs must position themselves to gain a larger share of the global green economy, estimated at over $5tn annually.

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The organisation stated this during the second edition of the Global African Women Sustainability Conference held in Abuja, where more than 5,000 female entrepreneurs from 58 countries gathered to discuss sustainable business opportunities and global trade access.

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The conference, themed ‘Rethink, Reinvest, Reintegrate: Women Entrepreneurs As Architects of Global Africa’s Sustainable Future’, attracted over 10 African ministers, representatives of 20 African governments, United States mayoral officials, and delegations from Latin America and the Caribbean, as well as officials from the African Development Bank, the United Nations Conference on Trade and Development and the African Export-Import Bank.

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Founder of ImpactHER Africa, Efe Ukala, said the green economy was expanding rapidly and African women must not be excluded from its opportunities.

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According to Ukala, “The global green economy is now worth more than $5tn a year and is on track to reach $7tn by 2030, and it is growing twice as fast as conventional industries. The global African women who already farm regeneratively, build with waste, weave with eco-dyes and power villages with the sun should be a part of the market and not outside it.”

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Ukala added that global demand for sustainable products continued to rise, creating fresh export opportunities for women-led businesses across Africa.

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She said, “Consumers around the world are now willing to pay nearly 10 per cent more for sustainably produced goods. The premium is real, and that tells us there is a market. Furthermore, an estimated 70 per cent of informal cross-border trade in Africa is conducted by women. This brings us to the question, why are our women stuck in the informal economy?”

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Ukala identified certification and regulatory compliance as major barriers preventing African women entrepreneurs from participating fully in international trade.

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“The UN Women itself names the barrier: limited capacity to comply with regulatory requirements, with safety standards, and with quality standards. Our women have the products. They do not have the paperwork. They have the practice. They do not have the proof. They have sustainability. They do not have the certificate that lets the world see it,” Ukala stated.

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He further explained that the conference addressed the challenge through sessions focused on sustainable business foundations, certifications, standards and startup regulations, stating, “Our women deserve an ISO certification, an export licence and a global buyer for their products.”

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Ministers and government representatives from Nigeria, Chad, Uganda, Zimbabwe, The Gambia, Sierra Leone, Ivory Coast, Zambia and Gabon pledged at the conference to strengthen support and access for female entrepreneurs in their respective countries.

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The delegates noted that women entrepreneurs remained critical to Africa’s economic growth and sustainable development agenda.

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