Stakeholders at the Zoho Women in Business Summit West Africa 2026 have urged women entrepreneurs to build stronger legal and structural foundations for their businesses to scale sustainably and attract global investment.
The Nigerian edition of the summit, organised by Zoho, brought together entrepreneurs, corporate leaders and development partners to discuss ways to advance women-led businesses across Africa. Participants shared experiences, explored business solutions and discussed strategies to overcome challenges facing female entrepreneurs.
Speaking at the opening session, Praise Olusegun of Zoho Middle East and Africa (MEA) said women-owned businesses represent a powerful economic force in Nigeria.
“If women-owned businesses in Nigeria were a country, they would be one of the most powerful economic forces in Africa,” she said.
Olusegun said Nigeria has one of the highest levels of female entrepreneurship globally, with studies showing that more than 80 percent of Nigerian women consider themselves entrepreneurs in some form.
Read also: Meet the three women CEOs leading Nigeria’s trillion-naira firms
She added that women own more than half of Nigeria’s more than 40 million small and medium-sized enterprises, highlighting their growing role in the country’s economy. Despite this, many women-led businesses still face structural challenges.
Research shared at the summit showed that more than 40 percent of women-owned businesses in Nigeria earn less than N10,000 in daily profit, pointing to barriers such as limited access to finance, technology and global markets.
Olusegun said digital tools can help entrepreneurs manage their businesses better and expand beyond local markets.
“Technology should empower businesses, not complicate them,” she said, urging participants to use the summit to build partnerships and connect with networks that support business growth.
In a keynote speech titled “Resilience in Action: Legal Empowerment as a Catalyst for Women’s Economic Growth,” Perenami Momodu, international arbitration consultant and head of Africa practice at Gately, said strong legal structures are essential for building resilient businesses.
According to Momodu, resilience means creating businesses that can withstand economic shocks, regulatory changes and global crises.
“Resilience is about building a business that can survive economic disruptions,” she said, citing the COVID-19 pandemic, rising inflation and geopolitical tensions as examples of unexpected challenges.
Momodu noted that Africa has one of the highest rates of female entrepreneurship, with nearly one in four women running a business. However, women-led businesses remain underfunded.
She said that of the $289 billion invested globally in venture capital in 2024, only 2.3 percent went to women-only founding teams, while less than seven percent of venture capital funding in Africa went to female-led startups.
“If female-owned businesses had the same access to capital and legal infrastructure as male-owned ones, their contribution to Africa’s GDP could be significantly higher,” she said.
Momodu advised entrepreneurs to establish clear corporate structures, develop strong contracts, protect intellectual property and comply with regulations to build sustainable companies.
During a panel discussion, speakers also called for a broader definition of success in business.
Uloma Amodu, sales manager for Sub-Saharan Africa at Truecaller, said success should be measured not only by financial results but also by the impact leaders create.
“Success is about the people you touch and the change you inspire,” she said.
Chinazom Arinze, founder and chief executive officer of AutoGirl, said financial growth allows women entrepreneurs to expand their influence and drive wider social impact.
Her company runs a technology-enabled mobility platform that connects vehicle owners with individuals and organisations seeking transportation services. Instead of building a large vehicle fleet, the platform allows car owners to list vehicles, creating a scalable mobility marketplace that currently manages more than 1,000 vehicles.
Datari Ladejo, founder and chief executive officer of Fernhill Digital Group, said many women start businesses to solve social problems but often underestimate the importance of financial systems.
“Impact is important, but impact needs sustainability,” Ladejo said.
Judith Didi Ebirim, chief impact officer at Impressum Africa Limited, said profit and purpose can work together in successful businesses.
“Purpose fuels the drive to succeed, while profit ensures sustainability,” she said.
Speakers at the summit also stressed the need for stronger mentorship networks for women entrepreneurs and encouraged experienced professionals to support younger women entering the business world.
Read also: How Women Leaders Can Bridge the C-Suite Gap through Mentorship- CIOD Women’s Group
They said collaboration among women leaders will be key to overcoming barriers that limit women’s participation in business and leadership.
The Zoho Women in Business Summit is part of the company’s initiative to give female entrepreneurs access to digital tools, mentorship and professional networks to help grow their businesses across Africa.
“When women rise in business, Africa rises with them,” Olusegun said.
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