Female Technology (Femtech) is a female focused brand of technology that uses solution-based innovation to help women across the world with their health and wellbeing. In 2021, global venture capital investment in FemTech exceeded $1 billion dollars for the first time, with the industry projected to be worth about $50 billion in the next five years. Yet less than one percent of this funding went to FemTech start-ups in Africa.
Africa women face extreme health related challenges. They are more likely to die from communicable diseases, maternal and perinatal conditions, and nutritional deficiencies, than women in other regions. Due to cultural and societal norms and taboos, a significant portion of women’s health is not discussed. Sub-Saharan Africa has twice the global average of fertility rates but at the same time has a significant portion of the female population experiencing infertility leading to a phenomenon known as “barrenness amid plenty”.
The lack of menstrual equity, the equal access to menstrual hygiene products, is a stark reality. The United Nations states that one in ten girls in Africa will not attend school during their periods leading to high dropout rates by females and at the same time 30-51% of girls in sub-Saharan Africa give birth before they turn 18. The World Health Organization (WHO) further states that Sub-Saharan Africa faces the highest rate of maternal mortality with one in thirty-six women dying in childbirth. Subsequently, two thirds of all maternal deaths per year globally are in Africa.
The femtech sector is disrupting the traditional female health care system with products such as reusable pads and fertility tracking apps and services such as ecommerce platforms for on demand contraceptives. These solutions have raised awareness for women’s unequal access to specialised care and highlighted the business opportunities in the sector. As Femtech on the continent grows, more women will have access to products and services that will benefit their health as start-ups are innovating wearable technology, software diagnostic tools and apps to help empower women. Across the subsectors of menstrual health, reproductive and sexual health, contraception, pregnancy and nursing, menopause care and infant care, femtechs are eroding the social barriers that hinder access to information that enables young girls and women to make informed decisions about their bodies.
In this regard, femtech is widening the accessibility of reproductive and sexual health care and education. Specifically, the use of mobile technology is delivering this information to young girls and women who seek it. These femtechs also increase access to financial resources enabling women to improve their health needs and further the education of the girl child by providing education at their fingertips.
Femtechs are predominantly founded and led by women who globally are receiving less funding than their male-led counterparts. Despite impressive growth in the past 5 years, investment in femtech still falls behind funding for other sectors. In the past year, femtech companies only accounted for 1.8% of total global investments in digital health. For sustained growth of Femtechs on the continent, increased awareness and fundraising attention is imperative. Female led start-ups and female health focused ones should have equal access to funding opportunities as male founders. Femtechs present a revolutionary market opportunity to solve the health issues of half the population of Africa.
