WIMAFRICA seeks greater economic power for African women

L-R: Managing Director Noxie Limited, Seun Oyewole; Chairperson, Women In Management Africa, Dr Ngozi Oyewole; Founder of Women In Management (WIM), Dr Sulochana Segera; and Global Head of Strategy & Operation, Mr Nilam Imtiyaz Samsudeen during a WIM press conference held in Lagos on Monday

Women leaders, entrepreneurs and business executives from across the world will converge in Lagos on Monday for the maiden African edition of the Women in Management global economic forum, with a call for greater access to finance, markets and economic decision-making for African women.

The two-day conference, organised by Women in Management Africa, will hold from 10-11 November, 2026, at the Federal Palace Hotel, Lagos, under the theme, ‘The Power Shift: Women Driving Africa’s Global Economic Influence.’

Speaking at a press briefing on Monday, ahead of the event, the Chairperson of WIMAFRICA, Dr Ngozi Oyewole, said the organisation sought to move women beyond participation in economic activities to positions where they could influence business decisions, trade and the allocation of resources.

Oyewole, who is also the Vice Chairman of the Industrial Training Fund and founder of Commonwealth Business Women Africa, said African women already contributed significantly to manufacturing, agriculture, trade and entrepreneurship but lacked adequate access to capital, markets and decision-making platforms.

“The power shift is about where women make decisions, especially economic decisions as they affect them. African women are already holding up local markets and participating in different trades. What we are doing is amplifying what they have been doing and ensuring that they take the right decisions about what they produce and how they utilise their productive capacities,” she said.

She said the conference would explore opportunities under the African Continental Free Trade Area, particularly in local manufacturing, backward integration and the development of African supply chains.

Oyewole stressed that women-owned businesses must become more involved in manufacturing and investment rather than remain largely confined to trading and other economic activities.

She identified limited access to finance, inadequate infrastructure, poor understanding of AfCFTA procedures, cultural restrictions and land ownership challenges as major obstacles to women’s economic advancement across Africa.

The WIMAFRICA chairperson said many women-owned businesses struggled to secure working capital despite having confirmed purchase orders because they lacked funds to procure raw materials, pay workers and meet production costs before receiving payments from customers.

She urged financial institutions to develop financing products that reflected the operational needs of women-owned enterprises, particularly manufacturers and small businesses.

Oyewole also called on government agencies and corporate organisations to improve access to procurement opportunities for qualified women-owned businesses and ensure prompt payment for completed contracts.

She said government policies on women’s economic inclusion should be assessed by the number of women-owned businesses that secured contracts and how quickly they received payment.

On continental trade, she said many women entrepreneurs lacked practical knowledge of AfCFTA’s rules of origin, documentation requirements and procedures for accessing cross-border markets.

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She called for targeted education and institutional support to help women-owned businesses exploit opportunities in the continental market.

Oyewole further identified poor roads and unreliable electricity as major constraints on women in agriculture and rural enterprises, noting that inadequate transportation and power supply increased post-harvest losses, particularly among traders dealing in perishable produce.

She said improved rural infrastructure would reduce production and distribution costs, increase the profitability of women-led businesses and make locally produced food more affordable.

The WIMAFRICA chairperson also advocated stronger protection of women’s property rights, warning that cultural practices in some communities continued to restrict women’s access to land and other productive assets.

Meanwhile, the Founder and Chairperson of Women in Management, Dr Sulochana Segera, said the decision to bring the global platform to Africa aimed to connect African women to international business, trade and investment opportunities.

Segera, who founded the organisation in Sri Lanka 16 years ago, said WIM had expanded its network to 29 countries, creating opportunities for women to collaborate, exchange expertise and establish cross-border business relationships.

She said the partnership with Oyewole provided an opportunity to showcase African women through the WIM Top 50 recognition platform and highlight their contributions to economic development.

Segera said the initiative would recognise women’s talents, resilience, innovations and achievements beyond their professional positions and titles.

“I think only women can change the world. Not that we are putting the men out, but women are the change makers because, at the end of the day, women are the creators,” she said.

She described the Lagos conference as more than an awards ceremony, saying the organisers wanted to facilitate business partnerships, investment, trade and long-term economic cooperation.

Segera disclosed that some international award recipients had already established connections with African women, including the introduction of artificial intelligence platforms and innovative business solutions across the continent.

She urged financial institutions to assess women entrepreneurs based on their business potential and capacity rather than traditional assumptions about their economic roles.