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By Omodele Adigun
The Managing Director of Ecobank Nigeria, Patrick Akinwuntan, has called on his colleagues and other stakeholders in the business world to help Nigeria close the gender inequality in entrepreneurship and aid equal representation for women in the formal business sector.
Akinwuntan, who disclosed this Wednesday in Lagos during the launch of Ellevate, Ecobank’s best gender-based proposition for women-owned businesses, lamented that women account for just about 12 per cent of board positions and own 20 per cent of all enterprises in the formal sector.
Quoting a report by PWC to buttress his point, he said: “Bunmi Adetoye in her publication titled ‘Nigeria-Women outnumber Men in Business Startups’ – rightly mentioned that entrepreneurial development has been recognised as one of the most effective tools for ending poverty and achieving sustainable development in every economy.
“It is estimated that women account for around 11.6 per cent of entire Africa adult population who start and manage a business. This is around 140 million. According to a report released by PWC, women in Nigeria accounted for 41 per cent ownership of micro businesses in the country. This translates to around 23 million female entrepreneurs operating within that segment.”
