Mastercard report indicates that Ghana has the highest percent of women business owners

Mastercard released its Index of Women Entrepreneurs (MIWE) on 8 March, International Women’s Day, noting that 46.4% of businesses in Ghana are owned by women, ranking it first place in the world.

Uganda also placed third in this ranking, with a score of 33.8%.

The index focuses on identifying factors that are most likely conductive of closing gender pay gaps in business owners, whilst evaluating 57 economies.

The MIWE targets three main factors: Women’s Advancement Outcomes, Access to Knowledge and Financial Services, and Supporting Entrepreneurial Factors.

Women entrepreunuerial activity in Nigeria and Ghana scored 62.4% and 59.1% respectiviely, whilst in the Index Malawai has 100% for women labour force participation, Ghana has 96.1%, and Ethiopia at 86.6%.

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South Africa received a score of 84.3% for sharing knowledge assets with women and providing financial access, ranking 6th globally.

Botswana’s score grew 2% from last year for Supporting Entrepreneurial Conditions, having the highest rate in the African markets at 68.1%.

The continent was deemed successful in terms of female financial inclusion, with South Africa getting 98.7%, Ghana scoring 84.6%, and Ethiopia receiving 77.1%.

“Botswana, Ghana and Uganda shine as examples of women’s determination to provide for themselves and their families and Africa excels at creating strong women entrepreneurs with the drive to succeed even in the face of financial, regulatory or technical constraints,” says Beatrice Cornacchia, Head of Marketing and Communications, Middle East and Africa, Mastercard.