Africa also leads the world in the number of women starting businesses, with almost equal levels of male and female entrepreneurs. In Nigeria/Zambia, 40.7 percent of women are either entrepreneurs or owner-managers of a new business. Countries like the United States (10.4 percent), the United Kingdom (5.5 percent), Norway (3.6 percent) and France (3.1 percent) lag far behind.
Africa’s entrepreneurs boast the lowest levels of “fear of failure.” Only 24 percent of African entrepreneurs feel that fear of failure would stop them from starting a business and seizing business opportunities.
African entrepreneurs are also the most confident in the world in their ability and skills to start a business. In comparison, people in Malawi feel twice as self-assured about launching a startup as those in the United Kingdom.