Images: Adobe stock, Unsplash Disclaimer This document is published by the Schwab Foundation for Social Entrepreneurship in partnership with the World Economic Forum as a contribution to a project, insight area or interaction. The findings, interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the Schwab Foundation but whose results do not necessarily represent the views of the Schwab Foundation or the World Economic Forum, nor the entirety of its Members, Partners or other stakeholders. © 2025 the Schwab Foundation for Social Entrepreneurship and the World Economic Forum. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system.Contents Forewords 3 Executive summary 5 Introduction 6 1 Regional insights into social enterprise in Africa 13 1.1 Defining social enterprise 14 1.2 Contextualizing social enterprise in Africa: Navigating structures, 15 informality and policy frameworks 1.3 Estimated number of social enterprises across Africa 18 1.4 Annual revenue and reinvestment practices 19 1.5 Enablers of inclusive and sustainable development 23 across industries 1.6 Number of direct jobs created by social enterprises 26 1.7 Leadership profile of social enterprises in Africa 28 1.8 Financing landscape for social enterprises in Africa 29 1.9 Non-financial support landscape for social enterprises in Africa 37 1.10 Impact measurement 40 2 Barriers faced by social enterprises in Africa 41 2.1 Access to finance 42 2.2 Regulatory challenges 43 2.3 Access to support services 44 3 Recommendations and opportunities 46 Conclusion 54 Overview of methodology 55 Contributors 56 Endnotes 59 The State of Social Enterprise: Unlocking Inclusive Growth, Jobs and Development in Africa 2

State of Social Enterprise Africa 2025