It is vital to acknowledge the significant role women play in trade and investment across South Africa and Africa at large. Women are at the heart of Africa’s economic engine, making substantial contributions to both the informal and formal sectors.
Empowering women in these areas is not only a matter of fairness but also crucial for economic growth and development.
The economic power of South African women
Women make up over 51% of South Africa’s population, and their economic activities are a cornerstone of the country’s development. South Africa leads the continent in female entrepreneurship, with women comprising a significant portion of entrepreneurs. Women also drive a substantial share of Informal Cross-Border Trade and play a key role in many Small and Medium Enterprises (SMEs) in the country. Their entrepreneurial activities not only provide livelihoods for their families but also stimulate broader economic development.
According to a PIC Study, women-owned businesses make up 21.9% of total businesses, slightly below the global average of 22.5% but demonstrating significant potential. Despite their contributions, women-owned businesses in South Africa face significant challenges, especially in accessing finance, resulting in a considerable credit gap.
The AfCFTA Protocol on Women and Youth in Trade
The Africa Continental Free Trade Area (AfCFTA) Protocol on Women and Youth in Trade is a pivotal step toward enhancing the participation of women and youth in trade. It aims to ensure their economic empowerment and inclusion in Africa’s economic landscape. The protocol outlines several key initiatives:
- Increased Participation: Removing barriers to enable women and youth to engage more fully in trade.
- Capacity Building: Providing training, business education, and digital literacy programs.
- Access to Finance: Facilitating better access to financial products and services tailored to women entrepreneurs.
- Policy & Legal Reforms: Creating inclusive policies and eliminating discriminatory practices.
- Support for SMEs: Enhancing resources and support structures for women- and youth-owned SMEs.
- Promotion of Gender Equality: Ensuring equal opportunities and combating discrimination.
- Regional & International Collaboration: Building partnerships to share best practices and resources.
To this end, these initiatives are essential for transforming the trade environment for women, enabling them to not only participate but thrive in the competitive market landscape.
The role of OR Tambo SEZ in empowering women in business
The OR Tambo Special Economic Zone (OR Tambo SEZ) is a critical initiative in South Africa, designed to foster industrial and economic growth, with a focus on manufacturing and logistics. This SEZ plays a pivotal role in supporting women entrepreneurs by providing a platform for trade, investment, and industrialization.
Through the OR Tambo SEZ, women-owned businesses can access essential infrastructure, secure incentives, and connect with local and international markets. The SEZ’s initiatives are aligned with the goals of the AfCFTA Protocol on Women and Youth in Trade, aiming to break down barriers and ensure that women have the resources and opportunities to succeed.
Through the OR Tambo SEZ, women-owned businesses can access essential infrastructure, secure incentives, and connect with local and international markets.
Case Study: Isabella Jewellers & Refiners
Isabella Jewellers & Refiners is a prime example of women-led success in the trade and investment sector. As South Africa’s leading precious metals refinery and jewellery manufacturer, Isabella is based in Gauteng and supports other jewellery manufacturers by supplying gold, platinum, silver, and gold alloys, as well as jewellery according to their specifications. Isabella is a Level 1 BEE contributor and a 100% Black Women-Owned Enterprise.
Through their innovative approach and dedication to high-quality service, Isabella exemplifies how women-led businesses can drive economic development while promoting sustainable practices. Their success story underscores the potential for women entrepreneurs to make a significant impact when provided with the right tools and opportunities.
Women’s Month serves as a reminder of the critical role women play in economic development and the importance of supporting their participation in trade and investment. Women entrepreneurs not only drive economic growth but also contribute to social development by reinvesting in their families and communities. By addressing the barriers women face and creating supportive environments, we can unlock the full potential of women’s entrepreneurship, leading to a more prosperous and equitable future for all.
As we look to the future, let us commit to empowering women in trade and investment, ensuring that they are not only participants but leaders in shaping South Africa’s and Africa’s economic destiny. Together, we can build a continent that thrives on the talents and contributions of all its people.
By addressing the barriers women face and creating supportive environments, we can unlock the full potential of women’s entrepreneurship, leading to a more prosperous and equitable future for all.
Contact OR Tambo SEZ
For more information about opportunities at the OR Tambo SEZ, contact the team here:
For more information on the OR Tambo SEZ and its efforts to enhance women empowerment and broader trade and investment, visit: www.ortambosez.co.za
