Why African women entrepreneurs remain overtrained and underfunded
African women entrepreneurs are getting trained, trained, and trained again, but struggle to secure the funding needed to scale their businesses. Experts warn against "overtraining" without adequate capital, highlighting a gap in support.
This article is based on a conversation from Voices & Visions, a podcast produced through a partnership between Tutto Passa Agency and TechCabal , which explores the people and ideas shaping Africa’s innovation economy. Carolyne Kirabo, founder and managing partner of M-Kyala Capital, a women-focused venture fund, recently met an East African woman entrepreneur who had completed eight accelerator programmes. She has been taught how to draw a business model canvas, refine her pitch, and persuade investors that her company is ready to grow. But after eight programmes, she has still not received any investment. “We have to be careful that, if we are going to intervene, we listen and design the solutions women are looking for,” Kirabo says. “Women are overtrained and underfunded.” The experience points to a persistent contradiction in Africa’s gender-finance industry. Banks, development organisations, and investors have created initiatives to help women become better business owners. Many offer mentorship, financial literacy and investment training.