- According to the report, women entrepreneurs claimed that their businesses were resilient during the pandemic.
- Most women reported using retained earnings, personal capital, and funds from family and friends to finance their business operations amid the pandemic.
A new report funded by the African Development Bank has found that women-owned businesses in Africa are faring better than expected with relatively high levels of resilience despite the ongoing Covid-19 pandemic.
The Lionesses Business Confidence Report illuminates how COVID-19 is affecting Africa’s leading women entrepreneurs and how their businesses are performing relative to their expectations.
According to the report, 59% of women entrepreneurs who participated in the survey indicated that the pandemic didn’t impact their businesses. In contrast, the report noted that a small minority (5%) said they expect a recovery to pre-COVID-19 levels in 2023 or beyond.