Tuesday, November 24, 2015
The Rise of Female Entrepreneurs in the Emerging Markets
While there are still gender challenges, women in the emerging markets are overcoming obstacles to break through the glass ceiling. As these developing countries advance technologically, and become increasingly startup-savvy, women are helping to revolutionize the business landscapes in Africa, Asia, Latin America, and the Middle East.
And it’s not only individual businesses that are affected by the presence of women at C-level. According to a recent report from EY, tapping into women’s economic potential could have the equivalent effect of an additional one billion people in business and in the workforce.
From managing directors, to frontend developers, co-founders to product managers, global real estate portal, Lamudi, employs women from all over the world to lead its international teams. Lamudi Philippines was founded by young female entrepreneur Jacqueline van den Ende, who was invited to speak at the Asia CEO Young Leaders’ Summit earlier this year.
In the Middle East, significant change is underway. Currently, over a third of startups are founded by women - with females fighting against common stereotypes to achieve business success through female-run companies. These women are independent, young, well-educated, and increasingly tech-savvy. One such example of this is WOMENA, a Dubai-based network which comprises high net worth female investors.
Meanwhile, in Africa, Lamudi has recently appointed Akua Nyame-Mensah as the new managing director of Lamudi Nigeria. Akua is currently the MD of Lamudi Ghana, and will continue to drive the development of the company in both countries.
Female entrepreneurs in Kenya are becoming increasingly high-profile. As a result, programs have been put in place to support future growth, including Akirachix, co-founded by a group of 12 women who teach girls about coding and entrepreneurship. The Kenyan Ministry of Devolution and Planning has even launched the Women Enterprise Fund, to support women as they start and develop their businesses.
“The business world in the emerging markets is changing every day. There is huge potential for women to break down barriers and overcome the obstacles to success, whether in technology, real estate, finance, or any other male-dominated sector. In so many developing countries, well-educated, tech-savvy women are stepping up to drive innovation and business growth,” concluded van den Ende.