The imperative for African female entrepreneurs to embrace green business practices resonated powerfully at the inaugural African Women Sustainability Conference held in Abuja. Experts emphasized the critical link between sustainability and economic relevance in the face of evolving global market dynamics, international trade regulations, and future market access. The conference, themed “Igniting Africa’s Green Revolution: Empowering Women Entrepreneurs as a Catalyst for Sustainable Growth and Unlocking Access to Eco-financing,” drew over 1,400 participants from fourteen African countries, underscoring the growing recognition of this crucial issue. The event, held in partnership with the African Union and hosted by the FCT, Abuja, enjoyed the support of organizations like Aruwa Capital, ToolUp, and UNDP, alongside the participation of various African governments. The core message emphasized the necessity of a paradigm shift in the African development trajectory, moving away from traditional industrialization models towards a sustainable and inclusive approach to economic growth.
The urgency for green transformation stems from the evolving economic landscape, particularly the shifting regulatory environment governing international trade. Experts argued that adhering to global sustainability standards is no longer a choice but a prerequisite for maintaining and expanding market access, particularly to the European Union, Africa’s largest trading partner. The EU’s recent implementation of the Deforestation Regulation and the upcoming Carbon Border Adjustment Mechanism exemplify this shift. These regulations impose stringent requirements on imported goods, demanding certifications proving deforestation-free sourcing and mandating carbon emissions reporting for specific industrial products. These requirements directly impact key African exports like cocoa, coffee, palm oil, steel, and cement, placing significant pressure on African businesses to adapt. The message to African female entrepreneurs was clear: integrating sustainable practices is not merely a trend but a fundamental requirement for remaining competitive in the global marketplace.
Efe Ukala, the founder of ImpactHER, emphasized the unique challenges and opportunities facing Africa. She stressed that Africa cannot simply replicate the development paths of developed nations, which often prioritized industrial growth at the expense of environmental sustainability. Instead, Africa must forge a new path, integrating sustainability into its core development strategy. This approach, she argued, would enable Africa to “leapfrog” certain challenges faced by developed nations and accelerate its progress towards a more prosperous and equitable future. Ukala underscored that future market access hinges on adopting green practices. She highlighted the EU’s increasingly stringent regulations, noting that they represent a fundamental shift in market access requirements, and complying with these regulations is essential for African businesses to maintain and expand their share of the crucial EU market.
The EU Deforestation Regulation, which took effect in June 2023, mandates stringent certification demonstrating that products are deforestation-free before entering the EU market. This regulation significantly impacts key African exports, including cocoa, coffee, and palm oil. Furthermore, the EU’s Carbon Border Adjustment Mechanism, commencing in 2026, will require carbon emissions reporting for steel, cement, and other industrial exports. These regulations present both challenges and opportunities for African businesses. While they demand significant adjustments to production processes and supply chains, they also incentivize the adoption of more sustainable practices, potentially leading to long-term economic and environmental benefits.
For African female entrepreneurs, navigating these new regulations poses a particular set of challenges. They often operate within resource-constrained environments and may lack the technical expertise and financial resources required to adapt to these evolving standards. However, the conference highlighted the immense potential of these entrepreneurs to drive sustainable development in Africa. With the right support and resources, including access to eco-financing and capacity-building programs, they can become key agents of change, transforming their businesses and contributing to a greener and more prosperous future for the continent. The conference served as a platform for connecting these entrepreneurs with potential investors and partners, fostering collaboration and knowledge sharing, and empowering them to navigate the evolving landscape of sustainable business.
Hajiya Mariya Mahmoud Bunkure, the Minister of State for the FCT, echoed the importance of equipping African female entrepreneurs with the necessary tools to thrive in this new era of green business. She emphasized the need for targeted support and investment to empower these entrepreneurs to adopt sustainable practices and access new markets. Bunkure further called on African governments to prioritize and support female entrepreneurs, recognizing their vital role in driving economic growth and achieving sustainable development goals. The conference underscored the interconnectedness of economic development, social progress, and environmental sustainability, highlighting the crucial role of African female entrepreneurs in building a more sustainable and prosperous future for the continent.
