‘Women businesses sidelined’

Females cry foul at Africa Investment Forum

Mining tycoon Daphne MashileNkosi has called on African leaders to invest more in businesses run by women and also increase access to funding.

Speaking on the sidelines of Africa Investment Forum in Sandton yesterday, MashileNkosi revealed that for her to start her mining company, she was funded by the African Development Bank (ADB).

“This is a very important gathering because real discussions on investment are happening here. It is also time that countries look at supporting female economy,” she said.

Mashile-Nkosi said women were seen as high-risk compared to men when they applied for funding and that most credit committees were male-dominated. “These committees are biased towards men. ADB, through its policies, is now distributing money to fund more businesses run by women,” she said.

Prominent businesswoman Precious Moloi-Motsepe acknowledged that women entrepreneurs had difficulties in accessing funding.

She said there was a political will at the forum to give business support from politicians.

“Everyone is talking about levelling the playing fields, meaning women will be treated the same as men by funders, governments and established business as well,” Moloi-Motsepe said.

Africa’s richest man, Aliko Dangote, said politicians needed to adopt a mind-set of development in the continent.