“African women-led startups secured just about $48 million in funding, compared to over $2 billion for their male counterparts.” Only 10% of female-founded startups in Nigeria secured funding between 2019 and 2023.

In 2024, the funding landscape for African women-led startups hit a devastating milestone: an all-time five-year low. Despite glaring evidence that women-founded companies globally deliver stronger returns per dollar invested, they continue to receive less than 3% of venture capital (VC) funding. This problem is especially acute in Africa, where structural, cultural, and institutional challenges further deepen the gender divide in tech entrepreneurship.

Since beginning my career as a tech journalist, I have exclusively covered women in the tech niche. In the course of my work, I have spoken to about 50 women in the tech space in Africa, this includes women in tech from South Africa to Tanzania, to Cameroon, Algeria, Malawi, Kenya, Egypt and of course Nigeria. I have been privileged to have interviewed the big movers across the continent, women doing really big and revolutionary things in the tech space and one common thread across the board for everyone I have spoken to, when asked what one of their major challenges is? The answer is often the same: funding.

However, this is 2025, and this conversation of lack of funding for African tech women, which has been going on for the longest time, still seems to be raging, raising the question of why funding is still very much a problem for African women in the tech space. Of course, my concern is African women because, as much as we can argue that it is a global problem.

The women in the West have more access to funding than African tech women. So our focus for this is the women in the African tech space. Why is funding still one of the major challenges African women in tech have to go through in 2025?

Some of the reasons why women in tech in Africa may struggle to secure funding may include:

Lack of Access to Education and Training Opportunities: Many African women do not have equal access to education and training opportunities in the field of technology. This limits their ability to acquire the necessary skills and knowledge needed to build and grow successful tech businesses, making it difficult for them to secure funding.

Gender Bias and Discrimination: Women in tech often face gender bias and discrimination in a male-dominated industry. This can lead to lower pay, fewer opportunities for career advancement, and difficulty in securing funding for their businesses.

Limited Support Networks and Mentorship Opportunities: Many African women in tech face challenges in building networks and finding mentorship opportunities. This can be a barrier to accessing funding as they may not have the necessary connections and guidance to navigate the funding landscape.

Lack of Visibility and Representation: African women in tech are often underrepresented in the industry, making it difficult for them to gain visibility and recognition for their work. This can impact their ability to attract investors and secure funding for their businesses.

Limited Availability of Venture Capital: The availability of venture capital in Africa is still limited compared to other regions. This makes it difficult for African women in tech to secure the necessary funding they need to start or grow their businesses.

Lack of Financial Literacy and Business Skills: Many African women in tech may lack the necessary financial literacy and business skills needed to successfully pitch their ideas and secure funding. This can make it difficult for them to attract the attention and investment of potential funders.

Cultural and Social Barriers: In many African countries, women face cultural and social barriers that limit their access to funding and resources. This can include restrictions on women owning property or starting a business, which can hinder their ability to secure funding for their tech ventures.

High Risk Perception: Tech startups are often seen as high-risk investments, especially in emerging markets like Africa. This perception can lead to investors being hesitant to fund women-led tech businesses, making it more challenging for African women to secure funding.

While the above reasons attempt to explain the reason many African women do not have as much access to funding as their male counterparts, it is not an entirely hopeless situation. As difficult as securing funding can be for African women, we know women who have secured funding and have gone ahead to build fantastic products. African women, such as Anu Adasolum, who is the founder and chief executive officer of Sabi, a Nigerian e-commerce platform. Sabi has secured $38 million in Series B funding, pushing its valuation to $300 million.

Below are some steps African women in tech can take to improve their chances of securing funding:

Network and Build Relationships: African women in tech should actively seek out opportunities to network with potential investors, industry leaders, and fellow entrepreneurs. Attend conferences, workshops, and networking events to build relationships and establish connections that could lead to potential funding opportunities.

Develop a Strong Business Plan: A well-developed business plan is crucial for securing funding. It should clearly outline your business idea, target market, competition, financial projections, and growth plan. This will make you more attractive to potential investors.

Leverage Online Platforms: There are various online platforms and communities specifically designed to connect entrepreneurs with investors. Some examples include AngelList, VC4A, and Alibaba Entrepreneurs Fund. These platforms can help African women in tech access a larger pool of potential investors and showcase their businesses.

Explore Government Support: Many African governments have programs and initiatives to support and fund startups, especially those led by women. Research and attend government events and workshops to learn about available funding opportunities.

Seek Mentoring and Training: Many organisations and individuals offer mentorship and training programs specifically for women in tech. These programs can provide valuable guidance in accessing funding and other resources, as well as help in developing business skills.

Consider Alternative Sources of Funding: Besides traditional venture capital, African women in tech can explore alternative sources of funding such as crowdfunding, grants, and impact investment. These options may be more accessible and suitable for early-stage businesses.

Highlight Social Impact: Many investors, particularly impact investors, are interested in funding businesses that have a positive impact on society. African women in tech should highlight the social impact of their businesses and how they align with the values of potential investors.

Build a Diverse and Inclusive Team: Investors often look for diverse and inclusive teams when considering funding opportunities. African women in tech should focus on building a diverse team with complementary skills and experiences to make their business more attractive to investors.

Be Persistent and Resilient: Securing funding can be a long and challenging process, and it is important to remain persistent and resilient. Continue to refine your pitch and reach out to potential investors, even if you face rejection. Each “no” brings you closer to a potential “yes.”

Seek Guidance from Other Successful Women: Finally, seek guidance and advice from other successful African women in tech. They can share their experiences and provide valuable insights on how to navigate the funding process and overcome challenges.

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