The 1000 Women Entrepreneurs Initiative (1000WEI) is a project by The African Network of Entrepreneurs (TANOE) through its flagship network WomanRising to discover, profile, empower, equip, support & celebrate a thousand women entrepreneurs in their quest to build thriving businesses, create wealth, provide sustainable employment, alleviate poverty and contribute substantially to economic growth in Ghana in particular and Africa in general.
According to the 2nd Edition of the Mastercard Index on Women’s Entrepreneurship (MIWE), Ghana has 46.4 percent of businesses in the country owned by women, making it the highest percentage anywhere in the world. Women entrepreneurs are the mainstay of economic growth and instruments of development and financial inclusion in Africa. As a result, a focus on the growth and sustainability of women-owned businesses directly affects the health and growth of the Ghanaian Economy. Generally, women entrepreneurs are passionate and determined to succeed in their businesses mostly as a source of support for themselves and their families. Regardless of the numerous financial, technical, cultural and regulatory challenges they face, most are able to sustain their businesses and take care of their other family-related obligations.
MIWE stated that the rise of women in entrepreneurship is not necessarily associated with the pace of their country’s wealth and economic development. 1000WEI is determined to change this narrative and to ensure that each one of the 1000 women entrepreneurs identified will be given the needed support to build businesses with average cumulative annual revenues of not less than 1 Billion Ghana Cedis or 179 Million Dollars.
- To annually identify 1000 Women Entrepreneurs actively in business with identifiable products or services, clientele, staff and revenue.
- To profile each one of the 1000 Women Entrepreneurs to serve as an inspiration to over 100,000 people and to encourage young women to consider taking up entrepreneurship as full time careers especially from school.
- To empower the 1000 Women Entrepreneurs with relevant information, useful resources & opportunities, productive networks, constant motivation and access to local and international markets.
- To equip the 1000 Women Entrepreneurs with practical tools, continuous capacity building and resources to overcome challenges and build structures for sustained growth.
- To provide continuous business development support to each of the 1000 Women Entrepreneurs to enhance their operations, build structures and systems, boost their revenues and profits, reduce cost, overcome pertinent challenges and enhance their human capital.
- To celebrate the outstanding women entrepreneurs showing dedication to the program, manifesting tremendous growth and the accomplishing set goals and targets.
- To ensure that each one of the 1000 Women Entrepreneurs is making nothing less than an annual revenue of 1 Million Ghana Cedis with an annual cumulative average of 1 Billion Ghana Cedis.
- To ensure that the businesses of the 1000 Entrepreneurs are Credit-Worthy with the ability to access credit facilities from traditional commercial banks in Ghana.
- To ensure that the businesses of 1000 Women Entrepreneurs are Investment-Ready, able to attract and utilise impact, quasi-equity and equity investments.
- To ensure that the businesses of the 1000 Women Entrepreneurs have systems and structures in place to guarantee accountability, operational efficiency and sustainability.
- To ensure that the employees and various stakeholders of the businesses of the 1000 Women Entrepreneurs are trained and equipped to deliver continuous results.
- To develop accessible platforms for information, networking, referrals, markets, investments and so on.
- To develop a Business Performance & Accountability Scale by which the businesses of the 1000 Women Entrepreneurs will be evaluated and relevant support provided to ensure consistent above average performance.
- To contribute substantially to the attainment of SDG goals 5, 8, 9, 10 and 17.