How She Powers Africa: AWEC Stories of Impact and Contributions to the Continent
Entrepreneurs have the ability to create jobs, drive economic growth, and innovate in ways that can transform entire industries. In Africa, where traditional employment opportunities may be limited due to a variety of factors such as lack of infrastructure, political instability, and economic challenges, women-owned businesses, in particular, have the potential to play an even greater role in driving progress and development.
Women entrepreneurs often have a unique perspective on their communities and are able to identify gaps in the market that others may overlook. They are also more likely to hire individuals who face barriers to employment, such as women, minorities, and those with disabilities. By providing these individuals with job opportunities, women entrepreneurs are not only creating economic growth but also promoting social equity. Additionally, many women entrepreneurs prioritize sustainable and ethical business practices, which can lead to the creation of jobs in areas such as renewable energy or fair trade agriculture.
#HowShePowersAfrica: Celebrating Women Entrepreneurs Driving Economic Growth On the Continent
In March 2022, AWEC launched a matching gift challenge campaign to raise $667,000 USD, which would fund the continued growth of our program and impact. Upon reaching this goal, a generous donor has pledged to make a matching gift of the same amount. Thanks to the support from many generous donors, we are proud to announce that we have reached our goal. With this incredible achievement under our belts, we are thrilled to transition into the next phase of the campaign: #HowShePowersAfrica.
Over the coming year, we will dive into the stories of our program fellows, alumnae and the wider AWEC community to discover the ways in which our extended AWEC network contributes to the growth of the continent.
Our spotlight this month features four phenomenal women from within the AWEC community (alumnae and mentors) who in their own capacities are uniquely making a contribution to Africa through business, knowledge, and expertise.
AWEC alumna Lola Olusola,Co-Founder of Horizon Shores Nigeria Limited, says the AWEC program was a life-changing event and the turning point in her leadership journey. It reinforced a strong passion within for reaching out to others, lifting them up, and putting their interests at the center of her decisions.
Her company, Horizon Shores Nigeria Limited, is a notable player in the upstream sector of the Nigerian oil and gas industry, providing cost-effective, efficient and innovative solutions including engineering, supply chain management, field instrument/equipment protection and technical manpower supply.
Over the years, her company has achieved remarkable progress by forging strong technical partnerships both locally and internationally and cultivating a reputation for delivering innovative and exceptional services. Its ongoing contributions to the oil and gas industry in Nigeria and West Africa are noteworthy, as it actively enhances local capacity through employee training, job creation, and knowledge transfer from foreign technical partners. As a testament to its excellence, the company has been chosen as a Project100 firm - an initiative of the Ministry of Petroleum Resources and the Nigerian Content Development and Monitoring Board (NCDMB) - and recently won an award as West Africa's Most Reliable Oil and Gas Services Company of the year at the 12th West African Brands Excellence Awards, further cementing its recognition within the industry.
Lola fondly recalls the AWEC program as being an invaluable experience for her, and she is grateful for the numerous benefits it has brought. “I remember the Live Sessions were particularly insightful, because each of the sessions expanded my worldview and stretched her mind beyond its limits. The assignments, on the other hand, played a significant role in shaping my goals and vision while sharpening my business insights and analytical skills. They also instilled consistency and resilience in my approach to problem-solving.”
Not only that, but Lola also attributes her success in the program to the strong relationships she formed with her Program Advisors (PAs). Their exceptional support made her journey less daunting and helped her navigate the challenges successfully. Additionally, Lola found great value in the advice and wealth of experience provided by her mentors throughout the program.
“Finally,” she says, “the AWEC Alumnae network is a rich, diverse, intelligent community of sisters across Africa and around the world, offering limitless opportunities for connections, learning, sharing, and collaborations without borders.”
Lebohang Dhludhlu is a shining example of the impact that AWEC can have on Africa. The Cohort 5 Fellow is the driving force behind Nkanyezi Farming and has created a unique reselling model that provides employment opportunities for unemployed youth in South Africa. Thanks to her innovative approach and dedication, Lebohang was able to secure funding from the government to commercialize her business, with plans to expand her team and continue making a positive difference in people's lives. Through her unwavering commitment to empowering others, Lebohang is truly powering Africa forward.
Lebohang’s journey is a testament to the transformative power of AWEC. “As a small-scale poultry producer, my business was limited to supplying resellers and informal markets.” However, after participating in the program and receiving valuable feedback from her Program Advisors (PAs), Lebohang gained a new perspective on her business. “I realized that being halal-certified and offering brine-free chickens could be a unique selling proposition for the business, which would set me apart from competitors.”
With this newfound knowledge, Lebohang secured a major deal with two prominent retail markets, demonstrating the incredible impact that AWEC can have on entrepreneurs. Through hard work, dedication to improving her business acumen, and willingness to implement feedback from the AWEC community, Lebohang has achieved great success and serves as an inspiration for others looking to make their mark in Africa's thriving business landscape.
A Spotlight on Two Mentors in AWEC’s Phenomenal Global Network
Sofie Beck-Petersen, a Legal Consultant in the Infrastructure Finance, PPPs & Guarantees Group at the World Bank Group, views AWEC as a thriving community and an invaluable source of knowledge and inspiration for women entrepreneurs. Within this supportive network of co-mentors, she has gained insights into diverse industries such as snail farming in Cameroon and the flourishing healthcare sector in Malawi.
Sofie's role as a mentor to ambitious women entrepreneurs has been a source of inspiration for her own professional growth. “The resilience and courage I experience as a mentor is something that reminds me to strive for a higher standard, and I am always proud to share that I am part of the AWEC community.”
She offers three key tips for running a successful business: 1) Know your network; 2) Improve your network; and 3) Utilize your network. As she explains, "A strong network is essential for growth and success in business. It provides a wealth of inspiration, knowledge, and new opportunities that can lead to tangible value both professionally and personally." With this in mind, entrepreneurs should prioritize building and nurturing their networks as a vital component of achieving their goals and ambitions.
Doris Ahiati is an accomplished Financial Advisor, CEO, and Co-founder of Crescendo Consult Ltd and also volunteers her time to serve as a mentor at AWEC. Like Sofie, she, too, is motivated by the incredible power and resilience that women possess to transform lives on the continent in a sustainable way. Through her interactions with fellow women entrepreneurs, Doris has witnessed firsthand their exceptional resourcefulness, devotion, and unwavering commitment to making a meaningful impact even in the face of limited resources.
“When women come together and support one another, they have the potential to create positive change that can touch and improve countless lives along the way.”The impact of women on society is a firm belief that drives her to mentor and empower other women through the AWEC program. As someone who understands the importance of business acumen, she shares her top three strategies for running a successful business. Firstly, invest in building your knowledge and skills to identify opportunities before others do. Secondly, focus on solving real problems for your target audience by using design thinking tools and seeking professional advice from qualified experts. Consider asking yourself the following;
How important is the problem your product or service addresses?
How much value does it give to the people to have that problem solved?
How willing is the target market to pay you to solve this problem for them?
How persistent and rampant is this problem?
What will be the impact of future policies, regulatory trends, and global market dynamics on this venture?
How can you influence these dynamics to your advantage?
Who do you need to connect with to achieve this?
Thirdly, to ensure the longevity of your business, it's essential to self-disrupt by regularly gauging and staying informed about market trends, customer feedback, and evolving developments. Remember that no business is required to remain forever glued to its initial idea. It's crucial to evolve with changing economic seasons and dynamics by diversifying, changing product or service offerings, reducing or expanding scale, introducing new lines and phasing out others if necessary.
And she concludes, “Never let your dreams die - keep fighting for them!” Women entrepreneurs are a driving force behind Africa's economy, powering the continent in a number of ways. Supporting and empowering them can have a profound impact on both individual livelihoods and broader economic development. By recognizing their potential to create jobs, drive growth, and innovate in transformative ways, we can work toward building a more equitable and prosperous future for all.