Small steps have been taken towards greater gender diversity within the African tech startup ecosystem but plenty remains to be done if anything close to parity is to be achieved, according to a new report released by tech publication Disrupt Africa in partnership with Africa-focused pre-seed investment programme Madica.
The report, the second edition of " Diversity Dividend: Exploring Gender Equality in the African Tech Ecosystem " which debuted last year explores the state of gender diversity in the African startup and venture capital ecosystems. It contains both quantitative and qualitative data - quantifying female founders and VCs in the ecosystem, as well as their access to funding and opportunities, and polling them directly about their experiences within the ecosystem. It also features personalised case studies.
The authors of the report say they have tracked measurable progress from a gender diversity perspective over the last 12 months, yet what has been achieved can still only be characterised as "baby steps" given the significant disadvantage women face within the ecosystem.
Of 2,600 African tech startups studied for the purposes of the publication, just 17.3 per cent had at least one female co-founder, and 11.1 per cent had a female CEO. These figures are by no means high enough, the research shows, but do nonetheless reveal progress since the first edition, when 14.6 per cent had a female on the founding team and just 9.6 per cent were led by a woman CEO.
There has also been progress on the funding front, though by no means enough, the report suggests. The percentage of total African tech funding raised by ventures with at least one female co-founder increased to 16.6 per cent in 2023 from 9.3 per cent in 2022. Meanwhile, the share of funding raised by female-led startups was up to 8.2 per cent in 2023 from 2.8 per cent from the year before.
