In his weekly newsletter, President Cyril Ramaphosa underscored the pivotal role of enhanced collaboration between government, business, labor, and civil society in leveraging entrepreneurship to combat poverty among women.

President Ramaphosa highlighted that increased cooperation could enable entrepreneurship to lift more women out of poverty, generate employment opportunities, and facilitate financial independence. He commended the private sector’s contributions, including start-up incubators, women entrepreneurship awards, and initiatives like the Youth Employment Service.

The President emphasized the necessity for improved financial resources, such as credit lines, and tools for financial inclusion, including bank accounts and mobile payment technologies. Expanding financial services to women in the informal sector and rural areas is essential for supporting women-owned businesses.

Reflecting on the recent commemoration of the Women’s March to the Union Buildings on 9 August 1956—a historic protest against apartheid’s oppressive practices—President Ramaphosa acknowledged the progress made in gender equality since the advent of democracy. However, he noted that significant work remains to enhance women’s economic participation.

A recent Gallup study, “Gender Power in Africa,” reveals South Africa’s notable achievements in female political participation, low child marriage rates, and high educational attainment for girls. Yet, the study also highlights that South Africa has the highest unemployment rate among women and the lowest percentage of self-employed women, at 5%. This contrasts with the broader African context, where 58% of self-employed individuals are women, according to the World Economic Forum.

President Ramaphosa asserted that entrepreneurship is crucial for empowering women and expanding their role in the economy, including in the informal sector, which represents 18% of total employment in South Africa.