Female entrepreneurs are strong catalysts for economic growth, creating employment and opportunities in the communities in which they operate. However, many continue to face structural barriers that limit their access to funding and business opportunities.
South Africa has made visible progress in women’s political representation, but this has not yet translated into equal economic influence, Wesgro CEO Wrenelle Stander said at the agency’s Women’s Month celebration in Cape Town this week.
Women hold 43% of the seats in Parliament and account for 45% of Cabinet. In the private sector, however, they occupy roughly one-third of the board seats at the country’s largest listed companies, while only 8% of listed-company CEOs are women.
“We have changed who sits in Parliament and who sits in Cabinet,” Stander said. “However, we have not yet changed at the same pace who leads the company, who receives the investment, who owns the business and who signs the contract.”
More women entrepreneurs needed access to funding and business opportunities, she said.
“We have women with export-ready products, but they are missing opportunities because they are not in the room when the right buyers are there, as nobody thought to bring them in.”
Women were making progress, but Women’s Month was about more than acknowledging the successes already achieved, Western Cape Minister of Finance Deidré Baartman said.
It was also an important platform for dialogue about the next systemic obstacles that needed to be addressed.
“Progress cannot be measured only by the number of women who have overcome existing barriers. We must also pay attention to whether the environment enables other women to follow them,” Baartman said.
Public procurement is one area in which the Western Cape government is working to improve women’s economic participation.
Women-owned businesses received 34.69% of provincial procurement expenditure, amounting to R6.84bn, according to the province’s latest procurement disclosure report.
This was the second consecutive year in which the province exceeded the 30% benchmark, without mandatory subcontracting or procurement set-asides.
The result had been achieved through supplier development and reforms intended to make procurement more accessible, Baartman said. Practical support has also helped businesses become more competitive and visible to government buyers.
“It demonstrates that when barriers are reduced and opportunities are opened, women succeed,” she said.
