State of Social Enterprise Africa 2025

South Africa Kenya Ghana Ethiopia Cameroon67% 58% 55% 51% 40%Age distribution of social enterprise leaders FIGURE 8 Under 18 18–24 25–34 35–44 45–54 Over 556%31%36% 20% 8%Youth-led Source: Survey data, World Economic Forum 1.8 Financing landscape for social enterprises in Africa While social enterprises in Africa show strong ambitions for growth throughout all stages, limited access to external finance – especially among early-stage ventures reliant on grants and informal sources – has led to widespread low solvency. Seeking external finance and sources About 49% of social enterprises have sought external finance over the past three years, underscoring the strong demand for capital to support their missions. Figure 9 disaggregates this by the enterprise growth stage, showing that older social enterprises are more likely to pursue external financing. This pattern aligns with findings from an SME competitiveness survey in Nigeria, which reported that 15% of young firms applied for financing compared to 20% of mature firms and 41% of older firms.62 Credit: SELFINA 29 The State of Social Enterprise: Unlocking Inclusive Growth, Jobs and Development in Africa