Damilola Asaleye, co-founder and COO of Ashdam Solar Company, is leading the charge in revolutionizing green energy in Nigeria. Her company offers sustainable, affordable energy solutions to address the staggering 93 million people in Nigeria without access to power. Through her efforts, Asaleye has not only brought light to communities in Oyo State but has also generated employment opportunities.
Aside from her business endeavors, Asaleye is dedicated to empowering women through initiatives like the Ashdam Solar Academy, which trains aspiring renewable energy entrepreneurs, and a nonprofit that mentors girls and women aspiring to be technology leaders.
Asaleye's journey in entrepreneurship was further enriched by her participation in the Cherie Blair Foundation for Women's programs, which equipped her with the necessary skills and knowledge to drive her business forward. In a recent interview, Asaleye expressed her commitment to making a positive impact on the world by tackling energy poverty head-on.
The Cherie Blair Foundation's survey highlighted the growing trend of women entrepreneurs in low- and middle-income countries leveraging technology to expand their businesses. The report revealed that a significant majority of respondents heavily utilize the internet and are increasingly investing in tech tools like AI to enhance their operations.
Despite the progress made by women entrepreneurs, challenges persist, particularly in accessing financial support and business networks. Discriminatory laws and practices in many countries hinder women from owning assets necessary for securing loans, exacerbating the funding gap. Additionally, limited access to business networks poses a barrier to growth for many women-owned businesses.
The foundation's recommendations emphasize the importance of creating an enabling environment for women entrepreneurs, including passing laws to combat gender-based discrimination in credit access and addressing biases in financial institutions and investors. Furthermore, efforts to prevent online gender-based violence are crucial to safeguarding women entrepreneurs.
Overcoming these obstacles could not only empower women entrepreneurs but also have a significant positive impact on the global economy. Studies suggest that achieving gender equality in entrepreneurship could boost the global GDP substantially, underscoring the immense potential of women-owned businesses in driving economic growth.
