Angola, a country rich in natural resources and cultural heritage, is witnessing a transformative shift in its economic landscape, driven in large part by the entrepreneurial spirit of its women. Women in Angola are stepping into the entrepreneurial arena, driving economic growth and social change. They have initiated business in various sectors including fashion & apparel, legal services, digital technology, real estate, occupational therapy, wellness & healthy eating, software services, education, and professional services.
In this article, we delve into the inspiring role of women in Angola’s entrepreneurial growth, the challenges they face, and also the Angolan zunguerias’ role in contributing to the informal economy of the country.
The Beginning of Women Entrepreneurship
In the early decades, Angola was under colonial rule and was struggling to attain independence. These events left a profound impact on the nation’s socio-economic fabric, with significant gender disparities and limited opportunities for women. Gradually post-independence legal reforms and societal shifts provided opportunities for women in business and entrepreneurship.
Current Status of Women Entrepreneurship
Today, women entrepreneurs are growing in Angola. According to recent statistics, women own a significant percentage of small and medium-sized enterprises (SMEs). According to the survey conducted by Taiwanplus in the year 2022, Angola ranked first globally for the percentage of women-owned businesses. Angola was led by around 35% of women who were able to own or manage their businesses.
The business and economic environment of Angola is changing as a new generation of women entrepreneurs is taking the initiative to start new businesses. It is also noted in the global study finding that women entrepreneurship in Angola is growing by about 40%. In 2023, Angola scored 79.4 out of 100 on the Women, Business, and the Law Index, which measures women’s ability to start and run businesses. Hence positive growth can be seen in Angola’s Women, Business, and Law 2023 index.
Role of Angolan Zungueiras
The Angolan zungueiras are entrepreneurial women and are huge contributors to the country’s informal economy. They are well-known for their ability to market various products in different sectors including food, beverages, clothes, crafts, etc. They usually carry the items in traditional carriers on their heads and sell them. Apart from their economic impact they also provide accessibility to essential products to people who are staying in the areas which lack formal stores. By overcoming various challenges, zungueiras support their families and contribute to the local economy in Angolan
For more articles visit EMEA Entrepreneurs
Challenges
Despite their successes, Angolan women entrepreneurs face several challenges. Cultural and societal expectations often place additional burdens on women, balancing business with family responsibilities. Funding is one of the main problems as financial institutions are less likely to lend money to women. Despite facing significant challenges, women in Angola are emerging as powerful agents of change.
Key Promoters of Women Entrepreneurship
Recognizing the potential of women in driving economic growth, the Angolan government and various institutions have implemented policies and programs to support female entrepreneurship. “Women Entrepreneurship Development Project” aims to provide women entrepreneurs with training, funding, and resources.
Technology has a significant impact on the growth of female entrepreneurs in Angola. E-commerce, social media marketing, and mobile banking are just a few ways technology is helping women overcome traditional business barriers.
Another supportive factor for women entrepreneurs is microfinance. They provide small loans and financial services to women who lack access to traditional banking. These funds will help women to start and grow their businesses along with providing financial support.
The future for women entrepreneurs in Angola looks promising. With ongoing support from the government, NGOs, and the international community, more women are expected to enter and thrive in the business world.
Conclusion
Women in Angola are playing a crucial role in shaping the country’s entrepreneurial growth. Their resilience, innovation, and determination are driving economic and social change. The zungueiras also have are the huge contributors to the economic growth of Angola. The country by harnessing the full potential of its women, aims to lead a brighter and more prosperous future for all.