General
Investment in Female Founders is Our Collective Responsibility
By Nitin Gajria
So goes the old adage: The hand that rocks the cradle, rules the world. While some might find depth and truth in this saying, others might beg to differ based on realities that determine the social challenges women face the world over.
So, as we move rapidly toward the middle of the 21st-century, how can we be effective allies in support of the cause to level the playing field and empower women, right here on the continent, with tangible opportunities for stepping into the leadership role proposed by this idiom?
The Balance defines economic power as the ability for countries, businesses or individuals to improve their standard of living. This increases their freedom to autonomously make decisions that benefit them, while reducing the ability of any outside force to impact their freedom. The key to dismantling the structural challenges women face, therefore, lies in strengthening their economic power.
These challenges are numerous and, according to the African Development Bank, they continue to drive gender inequality and even limit the continent’s progress in totality. In a similar vein, challenges identified, at the Africa Union Gender Pre-Summit on the 2016 African Year of Human Rights, as pressing for women included, but were not limited to, economic exclusion and discrimination from financial systems.
Despite these odds, however, African women repeatedly feature at the top of global surveys on entrepreneurship with the United Nations (UN) reporting that the 27% female entrepreneurship rate in Africa is the highest in the world. The UN goes on to warn, however, that most female-led enterprises in Africa are small businesses with few growth opportunities while also citing that female entrepreneurs are not evenly spread across the continent.
The reality-check list on the continent’s state of female entrepreneurship is long and includes greatly uneven access to funding for female entrepreneurs when compared with their male counterparts. For example: from January 2019 to April 2020, 13.4% of the 276 disclosed deals went to companies with at least one female on the founding team and this was just 5.7 % of the total invested capital. Within the first 4 months of 2020, this declined to 3.2%.
Moreover, while venture capital funding for startups across the continent in 2017 reached an all-time high of more than $500 million, representing a 53% year-on-year increase, only $30 million (5.3%) went to companies with female co-founders. Of the $725.6 million in funding that was invested across the African continent in 2018, only 2% went to women-owned or women-led businesses. Meanwhile, the e-Conomy Africa 2020 report by the IFC and Google highlighted that women comprise 20% of the total population of developers in Africa.
Even with the numbers noticeably low, African women constantly endeavour to push through, despite the structural hurdles they face – and it shows. The startup ecosystem has begun to create opportunities for women who code across the region.
Beyond the continent’s own economic growth, economic power afforded to women (through investments made in their entrepreneurial pursuits) will go a long way in reclaiming their social standing and in reclaiming their rights in areas such as education, safety and personal freedoms. Empowering female entrepreneurs is essential for both economic and social development on the continent.
Google,org recently partnered with the Tony Elumelu Foundation giving a $3M grant to provide rigorous entrepreneurship training, mentorship, coaching, access to networks and key markets to at least 5000 women.
There will also be $5,000 in seed capital in the form of one-time cash grants to 500 African women informal business-owners in rural and low-income communities across Nigeria, South Africa, Kenya and select Francophone countries.
This is part of the 2021 Tony Elumelu Foundation Entrepreneurship Programme, preparing women to navigate their businesses through the start-up and early growth phase. We are determined to help female entrepreneurs grow their businesses by creating initiatives that go beyond just allowing capital and by providing relevant training.
In most emerging economies, entrepreneurship is the path to job creation and income generation and it can be a solution to reducing inequalities among men and women. By tackling systemic barriers-to-entry, and facilitating meaningful participation in entrepreneurship, we hope to encourage women to become entrepreneurs.
Through programmes that support women with funding, we will generate prosperity in Africa. We hope that the idiom, The hand that rocks the cradle, rules the world, will have real and unequivocal resonance.
Nitin Gajria is the MD of Google Africa
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has approached the court against the Independent National Electoral Commission (INEC) over an alleged N800 billion campaign fund diversion.
The organisation is seeking to compel the electoral body to investigate allegations that about N800 million from the Federation Account Allocation Committee (FAAC) allocations was diverted by governors elected on the platform of the All Progressives Congress (APC) to finance political and campaign activities.
The suit, marked FHC/ABJ/CS/1426/2026, was filed at the Federal High Court in Abuja last week, but no date has been fixed for the hearing of the suit.
SERAP is asking the court to issue an order of mandamus directing INEC to investigate the claims that the governors channelled public funds into a dedicated campaign account allegedly meant to support President Bola Tinubu’s 2027 re-election bid.
The organisation is also requesting an order compelling INEC to demand full disclosure from the governors and the APC on any contributions made to such a campaign fund, including the identities of donors and the lawful sources of the funds.
In addition, SERAP wants the electoral commission to commence a comprehensive review of compliance with Section 91 of the Electoral Act by political parties and candidates, particularly regarding campaign financing and the sources of political donations.
According to SERAP, the allegations raise fundamental concerns about transparency in political financing, electoral fairness and the constitutional rights of Nigerians to participate freely in democratic governance.
The organisation argued that opaque campaign financing remains a major avenue for corruption and weakens public confidence in democratic institutions.
It maintained that the alleged misuse of public funds for political purposes threatens the credibility of the 2027 general election and undermines public trust in the electoral process.
In the suit filed by its lawyers, Mr Kolawole Oluwadare and Ms Kehinde Oyewumi, SERAP argued that the reported diversion of public resources for campaign activities warrants immediate action by INEC under its constitutional and statutory responsibilities.
The group stated: “The abuse of state resources for electoral advantage undermines democratic integrity and public trust. Fairness, transparency, and accountability in political or campaign finance are essential safeguards against corruption, state capture, and undue influence in democratic processes.”
SERAP further argued: “The allegations of diversion or opaque use of public funds pose a grave risk to the integrity of the 2027 general elections.”
The organisation said large-scale public financial allocations, combined with weak oversight and limited transparency, provide sufficient grounds for INEC to activate its investigative powers.
Referring to Section 91 of the Electoral Act, SERAP noted that the law empowers INEC to regulate political donations, enforce contribution limits, demand disclosure of funding sources and impose sanctions where violations occur.
The organisation explained that political parties found to have exceeded donation limits risk fines of up to ₦10 million and forfeiture of excess funds, while individuals who exceed prescribed limits are liable to penalties amounting to five times the excess contribution.
SERAP also contended that campaign financing derived from public resources distorts electoral competition and violates constitutional principles guaranteeing free, fair and transparent elections.
According to SERAP, INEC has a constitutional duty to ensure compliance with campaign finance regulations and to investigate allegations that could compromise the integrity of the electoral process.
By Adedapo Adesanya
The Independent National Electoral Commission (INEC) has shifted the deadline for political parties to submit the names and credentials of candidates seeking to contest the 2027 presidential and National Assembly elections.
The electoral body announced that parties now have until midnight on Tuesday, July 14, to complete the process, extending the earlier deadline of Saturday, July 11.
Under INEC’s timetable for the 2027 general election, political parties were expected to upload the names and personal particulars of their presidential, Senate and House of Representatives candidates before the initial cut-off date.
Explaining the decision, INEC said the extension followed appeals from political parties that had encountered difficulties meeting the deadline.
In a statement issued on Sunday, the National Commissioner and Chairman of the Information and Voter Education Committee, Mr Mohammed Haruna, said the request was formally conveyed through the Inter-Party Advisory Council (IPAC).
According to him, IPAC sought additional time on behalf of parties that were yet to complete the submission of their candidates’ details through the commission’s portal.
“The decision to extend was based on an appeal by the Inter-Party Advisory Council, on behalf of political parties who were unable to upload the names and personal particulars of their candidates within the scheduled timeline,” Mr Haruna stated.
INEC noted that the extension is intended to give all eligible parties a fair opportunity to comply with the requirements of the electoral process while remaining within the framework of the law.
The commission also urged political parties to utilise the extra period to finalise and upload all required information ahead of the revised deadline.
“The commission enjoins political parties to take advantage of this window of opportunity and ensure that all necessary details are uploaded before the expiration of the new deadline,” the statement added.
By Dipo Olowookere
Nigeria’s Vice President, Mr Kashim Shettima, will run as the vice-presidential candidate of the All Progressives Congress (APC) in the 2027 presidential election.
President Bola Tinubu retained Mr Shettima as his running mate for re-election next year, according to the National Chairman of the APC, Mr Nentawe Yilwatda.
In a post on Friday on X, the ruling party chairman described this as “another significant milestone in the journey of our great party.”
He also said it reaffirms the party’s collective resolve to sustain the Renewed Hope Agenda and deepen the progress already being recorded across the country.
It was gathered that Mr Tinubu submitted his presidential nomination forms today through his Special Adviser on Political and Other Matters, Mr Ibrahim Masari.
The submission was done ceremony at the Continental Hotel, Abuja, attended by several party chieftains, including The event brought together an impressive array of leaders of our great party, including the Chairman of the Progressive Governors’ Forum and Governor of Imo State, Mr Hope Uzodimma; Governor Mai Mala Buni of Yobe State, Governor Nasir Idris of Kebbi State, Governor Abba Kabir Yusuf of Kano State, Governor Uba Sani of Kaduna State, Governor Babagana Umara Zulum of Borno State, Governor Ahmadu Umaru Fintiri of Adamawa State, as well as other governors, party executives and critical stakeholders from across the federation.
“The All Progressives Congress remains focused on strengthening its grassroots support, consolidating the achievements of the Renewed Hope Agenda and working together to build a more prosperous, secure and inclusive Nigeria for all,” the party leader stated.
