Latest news with #womenentrepreneurs
Zawya
11 hours ago
- Business
- Zawya
Powering Women's Economic Transformation in Tanzania
In Kigoma, Tanzania, where over 80 per cent of livelihoods rely on small-scale farming, fishing, and informal trade, women constitute the majority of the agricultural workforce and are the backbone of the region's economy. However, in an increasingly digital economy, limited digital literacy remains a major barrier to unlocking women's full economic potential, with many women in the region lacking the necessary skills to use mobile platforms, digital financial services, or online marketplaces, impeding the growth and formalization of women-led businesses. Amid these challenges, women like Chichi Ramadhani Kamandwa are increasingly harnessing digital tools to grow their businesses. A 39-year-old mother of three and a determined entrepreneur living in Kigoma town, Kamandwa runs a small-scale agro-processing business specializing in the milling and packaging of maize, cassava, and nutrient-rich flours. In 2024, she participated in a Digital Literacy and Branding workshop organized by UN Women to equip women entrepreneurs in the region with practical skills to expand their businesses and access wider markets through digital platforms. The initiative formed part of the second phase of the UN Kigoma Joint Programme (KJP II) - a collaborative effort of 17 UN agencies working with local authorities and communities to advance development and human security in Kigoma - and engaged beneficiaries of UN Women's "Binti Dijitali" African Girls Can Code Initiative (AGCCI), who facilitated sessions with hands-on technical expertise and peer-led guidance. 'Before the training, I only used my phone for calls and taking pictures. I didn't know it could be a marketing tool for my business, helping me showcase my products online, reach more customers, and improve my record-keeping,' said Kamandwa. With the skills she has acquired, Chichi is now transforming her business. 'I learned how to create product labels, list ingredients and registration numbers to build customer trust, and package my products attractively,' said Kamandwa, adding that the most beneficial change she made was improving my packaging. 'I realized how much the look of a product matters. After updating my logo and labels and switching to better-quality packaging, my sales increased significantly, because customers had more confidence in my brand,' she explains. Kamandwa also began using accessible platforms such as WhatsApp to reach new customers, advertise her products, and receive orders. In Kigoma, many women entrepreneurs navigate complex social and economic realities. Alongside their business efforts, they often carry the primary responsibility for household care and income generation, frequently without consistent support from partners. 'Once a woman begins to earn, she is often left to shoulder everything alone,' Kamadwa explains. 'Some men leave for work in other towns, return only briefly, and then leave again, while the woman is left behind to care for the children, run the household, and manage her business on her own.' Additionally, limited access to financial services or reliable support systems leaves women vulnerable to unfair treatment or exploitative arrangements, particularly when trying to access markets or services. 'When you lack information or tools, people take advantage of you,' says Kamandwa. Through strategic partnerships with local government authorities, trade officers, mobile service providers, and private sector actors, UN Women, under KJP II, is working to create an inclusive and enabling business environment for women and youth. 'Initiatives such as the digital literacy workshop aim to strengthen the capacity of women-led enterprises to adopt innovative, market-driven practices, build resilience, and transition into formal markets for sustainable growth,' says Ms. Lilian Mwamdanga, UN Women Specialist for Women's Economic Empowerment. According to Kamandwa, the benefits of workshops like these extend well beyond the knowledge they gain. They create opportunities for women to connect with peers, share experiences, and establish lasting support networks. 'We have even formed small groups to support and uplift one another,' she shares. 'I have also started teaching other women how to use their phones for business. It might seem like a small thing, but it can really transform how we work and sell.' The use of digital platforms has also empowered women like Kamandwa to manage their sales independently, reducing reliance on informal and often unreliable intermediaries. With increased visibility and growing sales, Kamandwa has expanded her inventory and begun selling her products in bulk. She also hopes to continue mentoring others and to start providing training for young women interested in business, so they too can build a future of their own. 'If I can do this, I believe other women can too. We just need the right support and a chance to grow,' she says. Distributed by APO Group on behalf of UN Women - Africa.
Zawya
14 hours ago
- Business
- Zawya
Powering Women's Economic Transformation in Kigoma
In Kigoma, Tanzania, where over 80 per cent of livelihoods rely on small-scale farming, fishing, and informal trade, women constitute the majority of the agricultural workforce and are the backbone of the region's economy. However, in an increasingly digital economy, limited digital literacy remains a major barrier to unlocking women's full economic potential, with many women in the region lacking the necessary skills to use mobile platforms, digital financial services, or online marketplaces, impeding the growth and formalization of women-led businesses. Amid these challenges, women like Chichi Ramadhani Kamandwa are increasingly harnessing digital tools to grow their businesses. A 39-year-old mother of three and a determined entrepreneur living in Kigoma town, Kamandwa runs a small-scale agro-processing business specializing in the milling and packaging of maize, cassava, and nutrient-rich flours. In 2024, she participated in a Digital Literacy and Branding workshop organized by UN Women to equip women entrepreneurs in the region with practical skills to expand their businesses and access wider markets through digital platforms. The initiative formed part of the second phase of the UN Kigoma Joint Programme (KJP II) - a collaborative effort of 17 UN agencies working with local authorities and communities to advance development and human security in Kigoma - and engaged beneficiaries of UN Women's African Girls Can Code Initiative (AGCCI), who facilitated sessions with hands-on technical expertise and peer-led guidance. 'Before the training, I only used my phone for calls and taking pictures. I didn't know it could be a marketing tool for my business, helping me showcase my products online, reach more customers, and improve my record-keeping,' said Kamandwa. With the skills she has acquired, Chichi is now transforming her business. 'I learned how to create product labels, list ingredients and registration numbers to build customer trust, and package my products attractively,' said Kamandwa, adding that the most beneficial change she made was improving my packaging. 'I realized how much the look of a product matters. After updating my logo and labels and switching to better-quality packaging, my sales increased significantly, because customers had more confidence in my brand,' she explains. Kamandwa also began using accessible platforms such as WhatsApp to reach new customers, advertise her products, and receive orders. In Kigoma, many women entrepreneurs navigate complex social and economic realities. Alongside their business efforts, they often carry the primary responsibility for household care and income generation, frequently without consistent support from partners. 'Once a woman begins to earn, she is often left to shoulder everything alone,' Kamadwa explains. 'Some men leave for work in other towns, return only briefly, and then leave again, while the woman is left behind to care for the children, run the household, and manage her business on her own.' Additionally, limited access to financial services or reliable support systems leaves women vulnerable to unfair treatment or exploitative arrangements, particularly when trying to access markets or services. 'When you lack information or tools, people take advantage of you,' says Kamandwa. Through strategic partnerships with local government authorities, trade officers, mobile service providers, and private sector actors, UN Women, under KJP II, is working to create an inclusive and enabling business environment for women and youth. 'Initiatives such as the digital literacy workshop aim to strengthen the capacity of women-led enterprises to adopt innovative, market-driven practices, build resilience, and transition into formal markets for sustainable growth,' says Ms. Lilian Mwamdanga, UN Women Specialist for Women's Economic Empowerment. According to Kamandwa, the benefits of workshops like these extend well beyond the knowledge they gain. They create opportunities for women to connect with peers, share experiences, and establish lasting support networks. 'We have even formed small groups to support and uplift one another,' she shares. 'I have also started teaching other women how to use their phones for business. It might seem like a small thing, but it can really transform how we work and sell.' The use of digital platforms has also empowered women like Kamandwa to manage their sales independently, reducing reliance on informal and often unreliable intermediaries. With increased visibility and growing sales, Kamandwa has expanded her inventory and begun selling her products in bulk. She also hopes to continue mentoring others and to start providing training for young women interested in business, so they too can build a future of their own. 'If I can do this, I believe other women can too. We just need the right support and a chance to grow,' she says. Distributed by APO Group on behalf of UN Women - Africa.
Fast Company
15 hours ago
- Business
- Fast Company
I turned off my phone for a week: Here's why you should too
I run two companies, lead a team of over 20 people, mentor women entrepreneurs, and juggle multiple side projects. As a result, my calendar is filled with calls, meetings, decisions, deadlines, and the constant ping of notifications. For years, I convinced myself that unplugging—even for a day—would be reckless. What if something urgent came up? What if everything collapsed? Eventually, though, I did it. I turned off my phone for seven full days. No email, no WhatsApp, no Slack, no Instagram. Just silence—and, of course, a notebook. This digital detox had a deeper purpose than a conventional holiday. In today's world, being on vacation can mean keeping in touch, even if lightly: answering emails, reading news, scrolling through social media, and so on. We stay in the information bubble, which makes it difficult to tune out the noise. I didn't plan to turn this into a case study. I simply needed a break. What I didn't expect was how deeply restorative and surprisingly productive it would be. My fear was that it would slow me down, but instead, it recalibrated me. And if you're someone who thinks they can't afford to disconnect, that's exactly why you should. Here's a way to start. What the detox looked like Because it was the weekend, I didn't need to make a big announcement. Just four people—my mother, sister, business partner, and assistant—knew how to reach me in case of an emergency. Everyone else was left in the quiet. It was all designed consciously. Part of the detox fell on the weekend, when I did not expect any urgent messages from clients or partners. Also, there were some public holidays, so in the end I only missed one day of work. At the same time, I put my full trust in my team. Our managers are the first point of contact for clients, while my business partner is the go-to touchpoint for employees. Everyone also has my assistant's contact details, so if something truly pressing had come up, they would have easily found out why I wasn't responding. So, late on a Friday night, I shut my phone down, and didn't turn it back on until one hour before my next workday. This buffer gave me space to ease in without anxiety. In case you're wondering, there were no exceptions. The phone wasn't silenced or stashed in a drawer I could access when I needed comfort. It stayed off, completely out of reach. Here's a snapshot of how a day looked like during this period: Mornings started with movement—pilates or a long run—followed by a mindful, unhurried breakfast. Then: hours of reading real books. No articles, no headlines. I took two naps a day for the first 48 hours. It was as if my nervous system had been waiting for permission to rest. By day three, something shifted. I began writing. Not for deadlines, just to think. I filled pages and pages—including my goals for the year, updates to my life balance wheel, forgotten ideas, coaching reflections, and personal values I hadn't revisited in months. Creative clarity came fast, and because I opened the space for it, it stayed. Three lessons I took with me I walked away from my phoneless time with dozens of insights. Of those, three stayed with me, and they've reshaped both how I work and how I lead. #1: Clients are mirrors Every client relationship reflects something back at you. When you're truly present, you start to notice what those reflections are teaching you—where your boundaries are too loose, where your expertise can deepen, what energizes you, and what drains you. We also learn to listen more attentively. As a seasoned PR pro, I know what I need to do to achieve the best possible results—the biggest coverage, the boldest narrative, the most polished story. But over time, I've realized that what I consider 'the best' isn't always what the client actually needs. This shift in perspective changed the way I work, and helped me build deeper relationships with my clients. I can honestly tell I've learned more about myself from client work than from many books or programs. Not because they teach me something directly, but because they hold up a mirror. When we're receptive to it, that relationship becomes a shared process of growth. #2: Choose your energy before the day begins Before I made this shift, my mornings belonged to everyone else. I'd wake up and immediately jump into the noise—emails, deadlines, and messages. I was reacting to the world's demands before I'd even taken a breath. But now, I begin each day with a decision: Who do I want to be today? I started setting a tone for the day, not with tasks, but with intention. Calm. Generous. Creative. Focused. That one quiet choice each morning changed how I navigated everything else. I wasn't reacting, I was leading from the inside out. And when you do that, the world starts meeting you differently. Now, the day feels like mine—not something I'm surviving, but something I'm actively shaping. #3: Don't make decisions just to relieve pressure Many of us, especially high performers, can easily confuse urgency with clarity. We say yes, push forward, launch, commit. Not necessarily because we're grounded, but because we're tense. Stepping away helped me name that pattern. During this time, I realized how often I made choices to soothe discomfort rather than move from vision. Now, before anything, I pause and ask myself—Is this decision coming from a place of power, or from a place of pressure? Why more people should try a phone detox Your brain needs rest. Not scrolling, not content-switching. Real, deep rest. We don't hesitate to give our muscles recovery days after a grueling exercise session. Why can't we do the same with our minds? When we stop consuming content, our brain starts producing it. Ideas resurface. Our vision returns. We reconnect to the version of ourselves that doesn't need noise to feel alive. Silence, as I learned, did not slow me down. It reintroduced me to what matters the most. We frequently imagine disconnection as a luxury. It's not. From this new vantage point, I can say it is a leadership practice. It is how we step back into our lives with discernment, energy, and purpose. Nothing burned down while I was gone. The world kept spinning. And I came back steadier, sharper, and more attuned to those things I hold dearly. If you're still thinking along the lines of, 'I could never take a week off,' that's exactly your sign. There is clarity waiting for you, patiently, on the other side of silence.
Fast Company
2 days ago
- Business
- Fast Company
Banking on equality: The journey to build first women's bank
In 2019, I joined a group of entrepreneurial women with one bold goal: to create the only bank in the country strategically built to close the gender lending gap. That vision became First Women's Bank. We were motivated by the numbers, and the opportunity to drive change. Women are transforming the economy in this country, owning over 14 million businesses representing 39% of all businesses, employing over 12 million people and generating $2.7 trillion. But despite this momentum, women are still not accessing the capital at equal rates as men. Women receive just 16% of commercial bank loans —and only 4.4% of total dollars lent in the small business economy. That is the gender lending gap. It is layered. It is complex. But it is also highly addressable. Every business owner is unique, so we don't paint all women-owned businesses with a broad brush. But when you look at the data, a few patterns emerge. Understand the financing options First, many women simply aren't connecting with the right forms of commercial capital. We often see women over-relying on personal credit tools when starting out, and sometimes throughout the life of their business. That might mean using credit cards, personal savings, or home equity lines to keep the business afloat. While resourceful, this approach is also limiting, and it can hurt their ability to qualify for commercial debt financing down the line. At the other end of the spectrum, we see women running high performing, growing firms turning to equity financing to fund expansion. Sometimes, depending on the industry or the company's life stage, that's the right call. But in many cases, it isn't. Some women may not be aware of their other options or realize that a competitively priced commercial loan can be a more cost-effective way to finance growth. This has real consequences. Studies show that on average, women founders retain just 48 cents of equity for every $1 retained by male business owners. Think about that: Women are overcoming obstacles, building successful companies, and then only owning half of their own success. We believe that needs to change. Our goal is to connect with women earlier in their business journey. We're encouraging them to think about commercial financing not just as a last resort, but as a strategic tool for growth. Education and outreach Over the years, we've also seen that women feel left behind in the lending process. They want to make informed financial decisions, but when the information or guidance isn't accessible, they get discouraged and disconnect from the process entirely. Imagine the potential if women could double or triple their access to capital, the ripple effect across jobs, communities, would be transformational—not just for women, but for the entire U.S. economy. So, we rolled up our sleeves. We strategized, we led, and we built. Over two years, we raised nearly $40 million—the most ever raised by a startup bank in Illinois. We launched in 2021 with a simple mission: to grow the economy by elevating the role of women within it. And from the start, investors and partne rs saw th e power in what we were doing. Our success is rooted in that clarity of purpose. It takes a village But from the beginning, we knew we weren't going to do this alone. It takes a village. Our ability to lend and support women-owned businesses is powered by deposits, and we've been fortunate to partner with some of the largest and most respected companies in the country. These organizations support First Women's Bank by holding zero interest deposits with us, creating real impact with their cash. The corporate mission partnerships are a concrete way for companies to bank with their values, support gender equity, and strengthen financial inclusion. We also knew we needed the right advocates at the table, leaders who could help amplify our mission on a national level. That's why we created our Strategic Advisory Board, made up of lifelong champions of equality who have helped bring national attention to the power and potential of the women's economy. Billie Jean King, Sophia Bush, Nia Batts, Allyson Felix, and Wes Felix have all been instrumental in our journey. The solution is layered So, while the gender lending gap has many causes, it also has clear solutions. It starts with access. It grows through education. It scales through capital. And it thrives through partnership. This work is deeply personal to me. Throughout my career, I've seen how often women are underestimated and how often we underestimate ourselves. I've also seen what happens when women access the tools, the capital, and the support they need: They thrive, they lift others, and they transform communities. That's why I'm here. That's why this bank exists. And when women rise, we all rise.
Forbes
6 days ago
- Business
- Forbes
Follow The Money Or Get Left Behind, Women Are The Future Of Wealth
Follow The Money Or Get Left Behind, Women Are The Future Of Wealth Follow the money. It's a sentence that is often tossed around in boardrooms, investment pitches, and economic forecasts. But here's the twist, if you want to truly follow the money, you need to invest in women. The data shows that women-led businesses are more profitable, generate more revenue per dollar invested, and outperform across multiple key performance indicators (KPIs). But despite the data, women only receive a tiny fraction of global investment capital. The Funding Gap Despite the evidence that supports women outperforming, women receive less than two percent of venture capital funding. Women are underfunded, and it's because the system is skewed. Pitch meetings often reward familiarity and pattern matching over innovation and data, meaning investors invest in who they can relate with and what they know. This leaves qualified women founders shut out of the funding opportunities they need to grow their businesses. Women are launching businesses at record rates yet remain severely undercapitalized. This disconnect between business growth and financial backing isn't just unfair, economically it just doesn't make sense. We're not just holding women back; we are holding back the economy by not investing more in women led businesses. Proving that Women Outperform When They Get Capital A study by the Boston Consulting Group found that startups founded or co-founded by women generate 78 cents of revenue per dollar invested, compared to just 31 cents for male-founded startups. Although women receive less funding, these women-led startups delivered 10 percent more cumulative revenue over a five-year period. This highlights that women often lead with resilience, operational efficiency, and long-term vision, likely a result of the need to bootstrap and get things done on a shoestring budget. They grow their businesses with fewer resources and more strategy, resulting in stronger margins and higher returns. Why Every Investor Should Care It's not just venture capital firms that need to pay attention; every type of investor should care. From angel investors and crowdfunding platforms to corporate boards and banks, the opportunity to generate outsized returns by backing women-led businesses is available to everyone. Whether you're investing $1,000 or $1 million, where you invest your money matters. Even small shifts in funding can create massive ripple effects. It has been noted that when women have more money, they reinvest that money in their communities, create jobs, and scale more sustainable businesses. This isn't just about profit; it's about building stronger, more inclusive economies at every level, from local neighborhoods to global markets. The under-investment in women isn't just an equity issue; it's a missed financial opportunity. By continuing to overlook women entrepreneurs, investors are ignoring an entire market segment with proven potential to deliver high ROI. The Call to Action Investing in women isn't charity. It's an economic imperative. The data is in, and the results are undeniable: women-led businesses are high-performing, high-return opportunities. It's time to stop treating this as a feel-good initiative and start recognizing it for what it is which is a smart, strategic move for anyone serious about profit. If you're an investor, a fund manager, a board member, or even someone supporting businesses through crowdfunding, now is the time to audit your funding patterns. Are you putting your money where the growth is? Support funds and platforms that actively prioritize women-led ventures. Challenge the outdated biases still shaping financial decisions because building wealth with purpose means investing where the returns are strongest: in women. The bottom line is that diverse teams are more innovative, better at problem-solving, and more in tune with emerging market needs. When you exclude women from funding conversations, you're not playing it safe. You are leaving money on the table. If you want to follow the money, invest in women.
