Entrepreneurs and industry leaders have converged at the Zoho Women in Business Summit West Africa 2026 to champion women's economic empowerment across the region. The summit brought together corporate executives and development partners to explore practical ways of scaling women-led businesses in West Africa. The event's attendees are urging governments and investors to strengthen policies and boost investment to drive women's economic empowerment.
Praise Olusegun, Zoho Middle East and Africa's representative, notes that women-led businesses are a significant economic force in Nigeria. According to her, Nigeria ranks among the highest globally in female entrepreneurship. The country's statistics indicate that over 80 per cent of Nigerian women engage in entrepreneurial activities. If women-owned businesses in Nigeria were a country, they would be one of the most powerful economic forces in Africa, she argues.
Digital tools offer entrepreneurs a pathway to manage operations and scale beyond local markets, Ms Olusegun adds. However, many of these businesses still grapple with structural challenges. Data presented at the summit reveals that more than 40 per cent of women-owned businesses in Nigeria generate less than N10,000 in daily profit. This underscores persistent barriers, including limited access to finance, technology, and international markets.
International arbitration consultant Perenami Momodu stresses that strong legal frameworks are vital for building resilient businesses. She explains that resilience means creating enterprises capable of withstanding economic shocks, regulatory shifts, and global crises. While noting that Africa has one of the highest rates of female entrepreneurship, Ms Momodu says women-led ventures remain significantly underfunded.
The West Africa Business Summit's call for stronger policies and investment to drive women's economic empowerment is a timely reminder of the region's untapped potential. Praise Olusegun's assertion that women-led businesses could be one of Africa's most powerful economic forces is a testament to the region's entrepreneurial spirit. However, the reality remains that women-owned businesses in Nigeria face significant structural barriers, including limited access to finance and technology. The fact that only 2.3 per cent of global venture capital went to all-female founding teams in 2024 is a stark reminder of the funding gap that needs to be bridged. As Nigeria and West Africa strive to drive economic growth, it is essential that governments and investors prioritize policies that support women's economic empowerment.
