Advancing women entrepreneurship in emerging market economies

Women entrepreneurs in South Africa continue to face significant obstacles such as limited access to business knowledge, education, and training programs. Many struggle to secure funding for their businesses and encounter barriers in accessing financial resources. In a recent interview on CNBC Africa, Isabella Burke, the VP-Relationship Manager at Moody’s, shed light on initiatives aimed at empowering women entrepreneurs in emerging market economies, particularly in South Africa. Isabella Burke discussed Moody’s collaboration with WeConnect, a non-profit organization that connects large corporates with small women-owned enterprises. Through this partnership, Moody’s has been conducting boot camps and workshops designed to equip women entrepreneurs with the necessary skills to grow and sustain their businesses. These workshops cover a range of topics such as financing, pitching a business, selling skills, and accounting. By bringing in local and global experts from Moody’s, including sovereign analysts, the initiative aims to provide valuable knowledge and support to women entrepreneurs. One of the key initiatives highlighted by Isabella Burke is WeConnect's involvement in Kenya and Nigeria, where they are actively supporting microbusiness growth with a focus on empowering women entrepreneurs. WeConnect envisions that by 2030, 40% of all management positions will be held by women, reflecting their commitment to gender diversity and equality. Additionally, Moody’s is engaged in a collaboration with 100 Women in Finance, an organization that aims to promote women's leadership in the financial sector. Through events and workshops held in South Africa, Kenya, and Nigeria, 100 Women in Finance is working towards achieving greater representation of women in management roles. Isabella Burke emphasized the historical disparities that have contributed to the challenges faced by women entrepreneurs, not just in South Africa but globally. She highlighted the importance of addressing key factors such as access to funding, workshops, mentorships, policy changes, and visibility to support women in business. By providing essential skills, knowledge, and training through their initiatives, Moody’s aims to facilitate the growth of women-owned businesses, thereby addressing unemployment and enhancing the visibility of women in the business sector. Looking ahead, Isabella Burke shared some of the upcoming projects planned for the near future, including a forum of training for women-owned businesses in Johannesburg and the continuation of annual boot camps that bring together local and international experts to impart knowledge and skills to women entrepreneurs. Moody's strategic partnership with WeConnect in launching the 'Empowering Women-Owned Businesses Building Capacity for Sustainable Growth' initiative reflects their commitment to fostering gender diversity and supporting women in business. In conclusion, the efforts led by Isabella Burke and Moody’s underscore the importance of empowering women entrepreneurs in South Africa and other emerging market economies. By providing access to resources, knowledge, and training, these initiatives aim to break down barriers and create a more inclusive and equitable business environment for women, ultimately driving economic growth and sustainability in the region.