- African women face a significant $120 billion trade finance gap, largely because their businesses are often smaller and lack the traditional collateral required by lenders.
- While female labour-market participation in Africa is high, most women remain concentrated in poorly compensated roles within the informal sector.
- Accelerating gender parity could significantly strengthen the continent’s economy, potentially boosting African GDP by the equivalent of 10%.
Over the past year, there has been steady, if uneven, progress for African women in trade and finance.
On the one hand, there is far greater visibility and intent around gender inclusion, with more institutions moving beyond statements towards practical initiatives. Women are increasingly being included in conversations around policy, trade facilitation, and access to finance, which is an important shift. Digitalisation has also helped lower barriers, allowing more women to participate in cross-border trade and financial services.
That said, the underlying structural challenges persist. Access to affordable finance, senior leadership opportunities, and influential networks remains constrained for many women. Progress has also varied widely across countries and sectors.
What is encouraging is that the focus is now on measurable impact rather than awareness alone, and that creates a stronger foundation for lasting change.
The adverse impact of the trade finance gap
Women are disproportionately affected by Africa’s trade finance gap, estimated to sit at around $120 billion. Women-led businesses are often smaller and less capitalised, making them more vulnerable to conservative lending criteria. Many lack the collateral or credit history traditionally required to access trade finance, even when their transactions are commercially viable. In sub-Saharan Africa, there is an approximate $42 billion funding gap for women entrepreneurs.
As a result, women-owned businesses are more likely to face rejection or partial financing. This has broader implications because women play a critical role in small and medium-sized enterprises (SMEs), intra-African trade, and value-added sectors. Globally, one in six women intend to start a business; in Africa, that figure sits at one in three.
Excluding them limits overall trade growth and economic integration. McKinsey Global Institute (MGI) estimates that accelerating progress towards gender parity could boost African economies by the equivalent of 10% of their collective GDP.
Addressing the trade finance gap, therefore, requires intentional gender-responsive solutions. Targeted instruments, guarantees, and blended finance structures are essential to ensure women are not left behind in Africa’s trade transformation.
The trade finance gap is not a uniquely African phenomenon; there are certainly similarities in the challenges women face globally, particularly around representation, unconscious bias, and access to leadership roles. Women in both developed and developing markets often have to work harder to be seen and heard in technical areas such as trade finance.
In fact, when it comes to workplace gender equality, Africa’s advancement parallels that of other global regions, driven primarily by high female labour-market participation. Women’s participation rates in Africa align closely with those in China, Eastern Europe and Central Asia, North America and Oceania, and Western Europe.
However, the nature of this participation is concerning: the majority of African women work in poorly compensated, often subsistence-based roles in the informal sector.
In trade finance, the difference lies in the depth of the barriers. In developing markets, including many African countries, women face additional structural constraints such as limited access to collateral, smaller balance sheets, and less supportive institutional frameworks. Infrastructure gaps and informality further compound these challenges. In developed markets, stronger financial systems and regulatory protections provide more pathways to progress, even when bias exists. Within Africa itself, experiences vary significantly from country to country.
This is why solutions must be tailored to local realities rather than assuming a universal experience for women in trade finance.
Paving the pathway to progress: Afreximbank partner bank testimonies
Organisations need to be intentional about promoting women’s leadership rather than assuming it will happen organically. This starts with embedding gender inclusion into strategy, supported by clear targets and accountability at senior levels. Mentorship and sponsorship programmes play a critical role in helping women navigate leadership pathways and gain visibility. Targeted technical training is also important, particularly in specialised areas such as structured trade finance.
Equally, organisations must foster inclusive cultures where diverse perspectives are genuinely valued. Flexibility, transparency, and fair promotion processes all contribute to retaining female talent.
Visibility matters as well – showcasing women leaders helps shift perceptions and inspire others. When organisations take a deliberate and consistent approach, women are better positioned to contribute at the highest levels of trade and finance.
Many women-led businesses have shared how tailored trade finance solutions enabled them to expand operations, enter new markets, and formalise cross-border trade. Capacity-building programmes have been equally important, helping women better understand how to structure bankable transactions and engage confidently with financial institutions.
Women professionals within partner banks of the African Export-Import Bank (Afreximbank) often highlight mentorship and exposure to complex trade finance products as career-defining experiences.
A common theme is that once women gain the right tools and support, they can compete effectively. These experiences reinforce the importance of combining finance with technical assistance. Sustainable impact comes from addressing both the financial and non-financial barriers women face in trade and banking.
Concerned to contribute?
Women are increasingly comfortable contributing innovative ideas, but this depends heavily on organisational culture. In environments that encourage open dialogue and value diverse perspectives, women actively engage in innovation and problem-solving.
However, in more traditional settings, women may still feel hesitant to challenge established practices. Trade finance, in particular, has historically been conservative, which can limit innovation overall. Creating inclusive forums for idea-sharing and cross-functional collaboration helps address this.
It is also important that ideas are evaluated on merit, not on who presents them. When women feel heard and supported, they contribute meaningfully to product innovation and process improvement. Institutions that create space for women’s voices tend to be more adaptable and better equipped to respond to Africa’s evolving trade needs.
—
For young women entering the industry, some advice. Firstly, focus on building strong technical foundations while remaining confident in their abilities. Trade finance can be complex, but competence creates credibility and opens doors. Seek out mentors and sponsors who can provide guidance and advocacy, and do not underestimate the value of professional networks.
It’s also worth taking on challenging assignments early, as these experiences accelerate growth and visibility. Resilience is key: setbacks will happen, but they should be viewed as learning opportunities rather than limitations.
Finally, trust the value of your perspectives. The industry benefits from diverse thinking, and women have an important role to play in shaping the future of trade finance in Africa.
