Adedapo Adesanya
By Adedapo Adesanya
Despite an average of one woman out of four sitting on the board of a company in Africa, there is still under representation and exclusion faced by women economically and politically.
There have been calls to improve the representation of women as a critical and proven force that is sustainable for economic growth across the continent.
This coincides with the 8th Africa CEO Forum will take place March 9-10, 2020 in Abidjan, the capital of Ivory Coast and aims to raise the profile of women in decision-making positions on the continent.
The topic centred around women is at the top of the agenda of the Pan-African exchange of experiences in Abidjan with its two initiatives, “Women in Business” and “Family Business”.
According to Ms Olaedo Osoka, Head of Daystar Power’s Accra in Ghana, the future and the strength of the global and African economy depends on the extent of the inclusiveness of women.
“This should transcend economic opportunities and include greater access to corporate and political decision-making positions.
“Companies with foresight will recruit, train, sponsor and create economic opportunities for women. In doing so, they maximize their chances of long-term success,” she said.
Ms Osoka added with the Forum, there will be better dialogue and awareness on how gender diversity gives businesses a competitive edge, with data showing that companies with more women (in revenue-generating roles) enjoy higher financial returns and superior value creation.
On its part, the International Monetary Fund (IMF) said adding one woman to senior management or boards, while retaining the size of senior teams, is associated with 8–13 basis points higher return on assets (Christiansen and others, 2016).
“Beyond this, however, we need commitment, actionable plans and real accountability towards intentionally creating opportunities for women to lead and accelerate growth on the continent,” Ms Osoka added.
Founded in 2012, the Africa CEO Forum is an annual meeting of decision-makers from Africa’s largest companies as well as international investors, multinational executives, heads of state, ministers and representatives of the continent’s major financial institutions.
