Female founders in Africa face significant challenges in securing funding, including biases in venture capital and limited networks. In 2024, female CEOs raised just $48 million, far less than the $2.2 billion raised by their male counterparts. Many female-led startups are also seen as operating in less scalable sectors like education and healthcare. However, Norrsken22, a growth fund investing in African startups, is backing female-led companies such as Credrails and Sabi to bridge this gap.
Norrsken22’s Lexi Novitske and Precious John-Adeyemi discussed the barriers female entrepreneurs face, such as limited access to networks and a focus on undervalued sectors. Despite these challenges, there is increasing support for female-led startups, with more women joining investment teams and more recognition of their potential. For better chances of securing funding, they advise female founders to focus on strong revenue growth, clear scalability, and confidence in their vision. Joining networks like FirstCheck Africa and She Leads Africa can also improve fundraising opportunities.
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