Empowering Zim businesswomen: Pioneering economic growth, transforming society

In Zimbabwe, the winds of change are stirring a new era of economic and social transformation led by dynamic and resilient businesswomen.

This shift resonates with the powerful words of Senegalese filmmaker and activist Ousmane Sembène: “The development of Africa will not happen without the effective participation of women. Our forefathers’ image of women must be buried once and for all.”

His call to action underlines the necessity for women’s active participation in driving Africa’s economic development. In Zimbabwe, businesswomen are not only meeting this call but leading it, navigating and surmounting systemic challenges to secure their place in the entrepreneurial arena.

Historically, Zimbabwean women have played a significant role in informal and agricultural sectors, with many balancing family responsibilities and economic activities to provide for their households.

Yet, in recent years, women have moved into formal business sectors, establishing their presence as entrepreneurs, CEOs, and leaders within major industries.

Notable names like Karen Mutasa and Dr Divine Ndhlukula, exemplify this trend. Their stories embody the determination, grit, and acumen that have become synonymous with Zimbabwean businesswomen.

Their journey is emblematic of broader shifts within Zimbabwean society, where educated, empowered women are emerging as forces of change, challenging stereotypes and advocating for the dismantling of patriarchal barriers that have long held back progress.

From small-scale start-ups to major corporations, Zimbabwean businesswomen are reshaping the narrative around gender and economic potential in the country.

The participation of women in Zimbabwe’s economy is no longer a social issue alone; it is an economic imperative. Studies from the World Bank and the United Nations have consistently shown that when women participate in the economy, poverty rates drop, household incomes rise, and local economies experience sustainable growth.

The African Development Bank’s estimate that Africa loses about 20 percent of its growth potential due to gender inequality illustrates the economic cost of sidelining women.

Recognising this, Zimbabwean policies are beginning to evolve, supporting female entrepreneurship through initiatives like the Women’s Bank and various microfinance programmes targeting women-owned businesses.

Yet, despite these strides, Zimbabwean businesswomen still face structural challenges that impede their ability to contribute more effectively to economic growth.

These include limited access to capital, legal barriers, social norms, and a lack of representation in corporate leadership.

While the government has implemented quotas for women in leadership positions within public institutions, private sector representation remains low, with only a handful of women at the helm of top companies.

Access to capital remains a prominent hurdle. Studies show that female entrepreneurs in Zimbabwe and across Africa face greater obstacles in securing funding than their male counterparts.

Many banks and financial institutions continue to perceive women-owned businesses as higher risk, often requiring additional collateral, which may not be readily available to many women, particularly in rural areas.

Furthermore, female entrepreneurs frequently lack the networks necessary to access alternative funding, such as venture capital and private equity.

Another issue is the persistence of socio-cultural norms that dictate gender roles, constraining women’s ability to prioritise their careers or businesses. In Zimbabwe, where tradition holds strong sway, many women still carry the dual responsibilities of running a household and managing a business.

Although these dynamics are evolving, balancing these obligations can be a considerable burden that often impedes growth and productivity.

The stereotype of women being primary caregivers and homemakers persists, making it challenging for some to devote the necessary time and resources to their businesses.

Moreover, female representation in technology and science-based sectors, traditionally male-dominated fields, remains low. Zimbabwean businesswomen such as Dr Charity Dhliwayo, CEO of a leading fintech firm, and Nyaradzo Murerwa, who runs a renewable energy start-up, are the exception rather than the rule. More initiatives and policies are needed to address these disparities by encouraging girls and young women to pursue studies and careers in science, technology, engineering, and mathematics (STEM).

There are also training programmes available through partnerships between the government and private organisations. One such initiative, the Women Empowered Through Business (WEBB) programme, equips women with essential skills in financial literacy, business management, and leadership.

However, while these initiatives are a step in the right direction, they are not enough to address the deep-seated barriers hindering the full participation of women in the economy.

For Zimbabwe to fully harness the economic potential of its female entrepreneurs, more needs to be done to create a supportive ecosystem for women in business.

Beyond financing, women need access to training, mentorship, and industry networks to thrive. Policies aimed at increasing women’s representation in leadership roles, both in the public and private sectors, would foster a culture of inclusivity and equal opportunity.

Additionally, integrating gender-sensitive policies into existing economic and business frameworks could help to dismantle institutional biases and support women’s participation across all sectors.

The private sector can also play a vital role in this transformation by championing diversity and inclusion in the workplace.

Companies that adopt gender-sensitive hiring practices and establish women-focused professional development programmes not only improve gender parity but also enhance their competitiveness.

Studies show that companies with gender-diverse leadership teams perform better financially, making gender inclusion a sound business strategy.

The landscape of business in Zimbabwe is being transformed by a new generation of pioneering women who, despite facing considerable challenges, continue to inspire change and promote economic growth.

Zimbabwean businesswomen are redefining societal norms, proving that women’s leadership and participation are essential for sustainable development.

Their contributions reinforce the truth of Sembène’s words and highlight the necessity of moving beyond outdated stereotypes to embrace a future where Zimbabwe’s economic potential is fully realised.

With continued support from both the government and the private sector and an unwavering commitment from the women themselves, Zimbabwe is poised to witness a shift that could see women taking a more central role in the economy.

These businesswomen, who continue to push boundaries and defy expectations, embody the vision of a stronger, more inclusive Zimbabwe. Their success is not only a victory for women but a triumph for the nation as a whole, paving the way for a prosperous, equitable future.

Timothy Pemba is a student of the Decolonisation of Africa with a deep interest in the continent’s socio-economic transformation and its role in the global landscape. He writes in his capacity; that opinions expressed do not reflect the views of any organisations he may be associated with. He can be contacted via email at pembatimothy@gmail.com-ebsinessweekl