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Startup - October 27, 2022

5 Women Earning Millions in Male-Dominated Industries

Women have found it challenging to succeed in male-dominated industries. This is largely due to the stereotypes and unfavourable conditions they are in. 

In 2020, there were just 6.5% of women in Africa that worked full-time in occupations where men predominated.

The youngest Millennials, however, are segregated in the workforce than older generations.

In 2022, there are more women assuming leadership roles in previously male-dominated industries throughout Africa, including construction companies, politics, entertainment, and so forth.

Similar to earlier times, more women have dared to challenge the status quo and compete fairly in fields where males predominate.

More women are demonstrating their ability to bounce back, have an economic influence, and drive societal change. Let’s take a look at five women earning billions in male-dominated industries. 

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1. Maya Horgan Famodu, Venture Capitalist

Maya Horgan Famodu is the founder and manager of Ingressive Capita, a $10 million Fund I and $50 million Fund II which targets early-stage entrepreneurs in Sub-Saharan Africa’s major tech marketplaces.

Ingressive Capital Fund I have invested in some of Africa’s most rapidly expanding companies, such as Paystack, 54gene, and Tizeti. About 31% of portfolio firms are Y Combinator graduates, while 33% of startups were established by women.

Horgan Famodu founded Ingressive as an investment advisory company to establish her credibility in the field before launching Ingressive Capital in 2017 at the age of 25.

She is believed to be the youngest person in sub-Saharan Africa to have started a tech fund and the first woman to do so alone in Nigeria.

2. Kemi Adetiba -Film-maker 

Nigerian filmmaker, television director, and music video director Kemi Adetiba has produced films and television shows that have aired on Channel O, MTV Base, Sound City TV, BET, and Netflix.

Kemi began her career as a radio host for Rhythm 93.7 FM, where she was the voice of the popular nationally syndicated programmes Sunday at the Seaside and Soul’d Out.

She moved from being a voice on radio to a face on television by producing and hosting a number of programmes on Mnet, including Studio 53, Temptation Nigeria, which she co-hosted with Ikponmwosa Osakioduwa.

Kemi also hosted Maltina Dance All for three seasons on Soundcity TV as a presenter. 

Her credits as a producer include The Wedding Party 1, King of Boys 1, and The Return of The King (the continuation of the King of Boys), three popular Nigerian films. According to estimates, Adetiba is worth $6 million.

3. Tope Omotolani – Crowdyvest 

Tope Omotolani is the co-founder and CEO of Crowdyvest, a crowd-funding website that left EMFATO Holdings and changed its focus to become a digital wealth management and savings platform. The company was established in 2019.

She is recognised as one of the rare women who, in addition to her charitable work, has helped Nigerian communities flourish. She has assisted local farmers in globalising and modernising their businesses.

Under Tope’s direction, Crowdyvest has collected more than $35 million for several enterprises through savings and investments from a community of more than 100,000 members in more than a year. 

EMFATO Holdings, the company that owns Farmcrowdy and invests in Plentywaka, was co-founded by her as well.

4. Affiong Williams – ReelFruits

Nigerian entrepreneur Affion Williams quit a promising position with Endeavour South Africa to launch a business selling healthy fruits in Lagos.

ReelFruit is emerging company that specialises in making high-quality local fruit products. It was established in March 2012.  

The business is one of Nigeria’s leading fruit processing, packaging, and marketing businesses. It is made up of a variety of dried fruit snacks and nuts.

The company, which has garnered numerous international honours, completed a $3.1 million Series A investment in 2021.

5. Oyindamola Honey Ogundeyi -Fashpa.com, and Edukoya

Nigeria-born Serial entrepreneur in the technology sector Honey Ogundeyi founded Edukoya and Fashpa.com, two well-known digital firms. She is passionate about advancing Africa through technology.

Fashpa.com is an online store for African clothes that links international customers with small- and medium-sized fashion firms and independent designers around the continent. She rose to prominence as the first online retailer of fashion in Nigeria thanks to Fashpa.com.

Edukoya creates educational internet resources and provides online tutoring for both students and their parents. The firm secured a total of $3.5 million in pre-seed funding in December 2021.

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Meet Elizabeth Idigbe, one of the Nigerian Female Lawyers Dominating Her Space

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