Women-led businesses power U.S. economy with $3 trillion output

What happened: Sierra Leone’s Ambassador to the U.S., Ambassador Sidique Abou-Bakarr Wai, highlighted the powerful role of women-led businesses in the U.S. economy, contributing $3 trillion in output and creating 23 million jobs. This announcement coincides with the launch of the Connecting One Million Women Who Trade (CWT) initiative, aimed at empowering women in the global trade industry.

Why it matters: Women entrepreneurs are recognized by the World Bank as key contributors to global economic growth and poverty reduction. The CWT initiative, supported by the National Black Chamber of Commerce (NBCC), Blueprint, and Oakwood Green Africa, seeks to increase women’s participation in trade from 25% to 40% within five years, impacting industries in Africa, the Americas, and the Caribbean.

Key voices:

• Ambassador Wai: “Women-led businesses in the U.S. drive economic prosperity and create millions of jobs, proving the vital role of women in the global economy.”

• Charles DeBow, NBCC CEO: “This initiative will unlock women’s potential in international trade, creating a more inclusive and prosperous economy.”

• Dr. Ky Dele, International Public Affairs Strategist: “CWT will connect women with essential networks and resources, building a pathway for women to succeed in trade globally.”

What’s next: CWT will formalize its partnership with NBCC through a Memorandum of Understanding (MOU) to strengthen its mission of supporting one million women in trade, building a “clearinghouse ecosystem” for women ready to connect and trade worldwide.