African female entrepreneurs must go green if they want to compete in global markets.
According to experts at the maiden edition of the African Women Sustainability Conference held in Abuja, Nigeria in late January, the theme Igniting Africa’s Green Revolution: Empowering Women Entrepreneurs as Catalyst for Sustainable Growth and Unlocking Access to Eco-financing was a rallying cry for female founders to charter greener pastures.
The conference was held in partnership with the African Union and supported by the Federal Capital Territory, Abuja, and Aruwa Capital Management, ToolUp Africa, the United Nations Development Programme (UNDP and various African governments were in attendance.
Commenting on green policies in business across Africa, ImpactHER Founder Efe Ukala believes the current African economic predicament cannot follow the same economic pathway of developed markets to achieve prosperity.
“We must chart a new course. Think sustainably while pursuing growth. The African development story is a new pathway to prosperity that will allow us to leapfrog challenges and accelerate advancement. Our path forward must embrace both industrialization and sustainability – our future market access depends on it. With over 1,400 female entrepreneurs from fourteen African countries in attendance, we can make a change by going green,” says Ukala.
According to Ukala, Europe has moved beyond merely preferring green certifications – it is now a legal requirement.
The European Union Deforestation Regulation (EUDR), which came into force in June 2023, requires strict certification that products are deforestation-free before they can enter the EU market.
This affects key African exports including cocoa, coffee, and palm oil. Additionally, the European Union’s Carbon Border Adjustment Mechanism (CBAM), starting in 2026, will require carbon emissions reporting for steel, cement, and other industrial exports.
The conference also highlighted the increasing demand for sustainable financing options for African women entrepreneurs.
Speakers emphasized that access to eco-financing is crucial for businesses aiming to meet new sustainability standards and expand their market reach.
Representatives from financial institutions underscored the availability of funding opportunities for green projects and encouraged female entrepreneurs to integrate sustainability into their business models.
In a panel discussion, industry leaders discussed strategies for aligning African businesses with global environmental standards. Panellists noted that African economies need to innovate and adopt sustainable practices to remain competitive in international trade.
Participants agreed that governments must implement policies that support green business initiatives and provide incentives for companies that adopt environmentally friendly practices.
Another key topic was the importance of capacity building and technical training for female entrepreneurs. Experts stressed that knowledge of global regulations and sustainability practices is essential for businesses looking to succeed in international markets.
The conference concluded with a commitment from stakeholders to foster an ecosystem that promotes green entrepreneurship.
