According to a Business Because article in 2020, female entrepreneurs face stricter challenges than their male counterparts. Despite women owning approximately 30% of registered small and medium-sized enterprises (SMEs) across the continent, they still struggle with limited access to financing, market restrictions, and a lack of mentorship opportunities. For many, scaling their businesses becomes problematic because they need the right tools and technical know-how. Within this challenge, Efe Ukala saw a chance to turn things around through ImpactHER.
Nigerian-born lawyer Efe Ukala passionately advocates gender equality in business. She is an experienced private equity lawyer who serves as Vice President and Assistant General Counsel at a top Wall Street firm. Through her years of experience, Efe understood that talent and ambition were insufficient to build a solid African business. She recognized the untapped potential of women in the business field, inspiring her to start ImpactHER in 2017.
ImpactHER: Goals and milestones.
ImpactHER is a non-profit Ukala founded to give African female entrepreneurs the tools, resources, and support they need to scale their small and medium-sized businesses. The organisation leverages its investment experiences to bridge Africa’s female entrepreneurship financing gap. The organisation empowers women through capacity building, training, financial resources, and networking opportunities that help them break into new markets.
Efes’s experience in international finance and law gives her a privileged view of the issues affecting African female entrepreneurs. She was particularly struck by how a lack of access to resources and limited mentorship stifled the potential of many promising female-led businesses.
In seven years, the NGO ImpactHER has reached 54 African countries, impacted 101 countries globally, trained I51,741 female entrepreneurs, and unlocked approximately $11 million in institutional capital.
“We don’t live in a vacuum. We’re all here to support each other, and we’re a solution to one another,”- Efe Ukala, Investment and Equity Lawyer, Founder of ImpactHER.
Action plan and initiatives
One of ImpactHER’s modus operandi is capacity building. It offers training programs that cover various aspects of business management. It educates women on financial literacy, strategic planning, marketing, and leadership development. These practical training sessions are handled by trusted industry experts and experienced mentors.
Another is mentorship. The organisation pairs entrepreneurs with seasoned mentors who guide and support them in starting and growing their businesses. This mentorship includes one-on-one sessions, group workshops, and networking events. The organisation also provides resources such as toolkits, templates, and access to online learning platforms to support these women further.
Also, the NGO provides access to finance by connecting women with various funding sources, including grants, loans, and venture capital. Ukala partners with financial institutions and investors who support women-led businesses and give them the startup capital they need for business. They also provide financial literacy workshops to help women better understand and manage their finances.
ImpactHER also provides networking and market access for members of its community. It facilitates connections between female entrepreneurs and key stakeholders, potential clients, partners, and industry leaders through various events, industry conferences, and business expos, where female entrepreneurs can showcase their products and services to local and global markets.
Recently, ImpactHER advocated for bridging the digital skill gap, which aligns with allowing women to redefine successful entrepreneurship in Africa. To further propagate this, Efe authored an insightful survey policy paper co-published by the African Union CIEFFA titled “Bridging the Digital Divide: Empowering Women & Girls in Africa through Digital Literacy and AI Education.
