Claudia Castellano, co-Founder and CEO of Black Mamba Foods, has called on businesses to focus on prosperity over profits, urging greater investment in women-led enterprises to unlock broader economic growth.
Speaking at a Women’s Month thought-leadership event hosted by the African Storyteller at the Royal Villas in Ezulwini, Castellano highlighted the transformative impact of empowering women in business.
“When you lift a woman, you lift an entire community,” she said.
Funding gap
Citing recent data, Castellano noted that women account for 26 to 30 per cent of entrepreneurs in sub-Saharan Africa, but receive only 2 per cent of available venture capital.
“There is already a glaring gap in support for women’s businesses,” she said. “Half of the agricultural labour in sub-Saharan Africa is done by women.
‘‘They produce 60 to70 per cent of the food consumed in the region, yet they have little or no access to land, credit or technology.
‘‘We are missing out.” With that information, Castellano urged rural women to be intentional in grabbing opportunities, especially when it comes to farming.
The multiplier effect
Castellano stressed the multiplier effect of investing in women, referencing research showing that women reinvest up to 90 per cent of their income into their families and communities.
In contrast, she said the women counterpart, men invest less of that. “Nothing against men, but the same study shows that they invest 40 per¬cent on that income,” she said.
Castellano stressed that this is not about pitting genders against each other, but it is about recognising where investment delivers the greatest return for society.
Black Mamba Foods reflects Castellano’s philosophy. The enterprise, which exports its products to about 15 countries, is structured to create opportunities for women at every level, particularly in production.
“Our business is built around women,” she said, showing her belief that sustainable prosperity begins with empowering those who reinvest most into their communities.
…ABOUT THE EVENT
August, known as women’s month, African Story Tellers organised this event and another one upcoming in Cape Town (South Africa) in August 29, 2025 to highlight how southern Africa countries are advancing women’s inclusion as essential contributors to economic growth.
Given a background that southern Africa has a population of approximately 74 per cent million, with women making up 51 per cent of this figure around 37.75 million. This statistic emphasises the role women play in driving the region’s economies. African Story Tellers believes that women contributions as leaders in society, business, government and advocacy are vital now and for the future. However, women continue to face systemic barriers that hinder their ability to contribute fully to the economy.
The African Storyteller is a Pan-African public affairs consultancy established in July 2017, its role is rewriting Africa’s narrative and positioning the continent for growth.
The organisation is driven by the need to reshape the perception of Africa and showcase the continent’s stories of progress and development.
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