In February this year, the Trust’s Investment team conducted a survey that investigated Technical Assistance best practices for African women entrepreneurs. The survey targeted potential pipeline businesses to get inputs into the format and approach of a highly responsive and tailored post-investment technical assistance facility for the investment fund investee companies. The facility will enable the women to achieve the fund’s growth and impact ambitions.
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The survey received 54 responses, of which 18 of the businesses are in the growth and mature stages, 22 are in the venture stage. The demographics of respondents in the venture, mature and growth categories paint a picture of mature, mostly married women with multiple responsibilities on their shoulders. Their most common sectors included Manufacturing (22%), Agro-processing (17%), Agribusiness (11%) among the growth and mature stage businesses and Education & Skilling (24%), Retail & Wholesale Trade (17%) and Agro-processing, Agribusiness at 14% each.
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Below are some of the main outputs and learnings from the survey:
- Challenges entrepreneurs face were highlighted as access to finance, marketing their business, spending sufficient time working on the business, and designing and implementing a digital strategy.
- Women entrepreneurs attempt to overcome their challenges through seeking out more knowledge, skills and training (through formal avenues, self-learning or industry events), exploring alternative sources of finance and outsourcing to experts, or bringing on board other professionals into the business.
- Beyond the direct financial support that entrepreneurs desire and require from the investment fund, practical support was suggested in training for specific skills, access to networks and markets, and external experts and consultants for specific purposes.
- The most common suggestions for specific differentiated support from the investment fund included accessible financing, facilitating access to skills, networks and markets, indicating that technical assistance facilities are tailored to investee businesses’ needs.
- The majority of respondents are dissatisfied with the amount of time they take off from their business reasons for taking time off, including travelling home for family and community responsibilities, holidays, and mental health. A handful of respondents need time off for care-related obligations.
- Support the burdens caused by reproductive health and women’s unpaid care responsibilities. Suggestions included providing business support to develop skills, digitising businesses to help women work remotely, promoting gendered policies and practices in the workplace, advocacy around gender norms, and financial support.
- Women entrepreneurs also expressed willingness to meet an adequate technical assistance facility’s partial costs (up to 50%).
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The survey was conducted by Andia Chakava, the Investment Director and Jane Muia, the Investment Analyst at the Graça Machel Trust, with support from Value for Women (advisory consultants).Â
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