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2 clusters · 7 sources · 4 days · First seen · Last updated
Financing gaps for Black-owned businesses in Africa
Overview
A report commissioned by British International Investment (BII) and Swedfund, conducted by Open Capital Advisors, has identified a $209 billion financing gap for Black-owned and Black-led businesses across five sub-Saharan African nations: Nigeria, South Africa, Kenya, Senegal, and Côte d’Ivoire.
The research highlights a structural bottleneck where Black-owned businesses, which comprise between 89% and 99% of small enterprises in these markets, see their representation drop significantly as they scale. For example, Black-owned businesses account for 40% of larger firms in Kenya and 35% in South Africa.
Nigeria faces the most substantial deficit at $131 billion, representing 63% of the total gap identified in the five countries. Other significant gaps include South Africa at $45 billion, Kenya at $23 billion, Senegal at $5.7 billion, and Côte d’Ivoire at $4.6 billion. These businesses are primarily concentrated in sectors such as agriculture, food systems, trade, services, and light manufacturing.
Entities
Swedfund · British International Investment · South Africa · Nigeria · Open Capital Advisors
Timeline
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[BUSINESS] 2 sourcesBlack-owned businesses in Africa face $209bn financing gap
A new report reveals a $209 billion financing gap for Black-owned businesses across five African markets, with Nigeria facing the largest deficit of $131 billion.
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[BUSINESS] 5 sourcesBlack-owned businesses in five African nations face $209bn funding gap
A report by BII and Swedfund reveals a $209 billion funding gap for Black-owned businesses across Nigeria, South Africa, Kenya, Senegal, and Côte d’Ivoire, noting difficulties in scaling enterprises.
Sources
brandspurng.com · businessamlive.com · nairametrics.com · newtelegraphng.com · punchng.com · techinafrica.com · thisdaylive.com