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IWD 2024: It Will Take 50 Years to Close OECD Gender Pay Gap—PwC
By Adedapo Adesanya
A new study from top consultancy firm, PricewaterhouseCoopers (PwC), has shown that it would take more than half a century to close the average gender pay gap across all 33 Organisation for Economic Co-operation and Development (OECD) countries.
To mark International Women’s Day 2024, PwC has released two studies, the Women in Work Index and Inclusion Matters, finding that global progress on achieving gender parity at work continues at a sluggish rate.
Now in its 12th edition, the latest data from the 2024 Women in Work Index (WiW Index) measures progress towards gender equality at work across the OECD, taking in five indicators that frame PwC’s analysis and measure various indicators of gender equality in the workplace, one of which is the gender pay gap.
PwC said that despite some progress over the past decade, this year’s analysis shows there is still a considerable way to go to reach gender parity at work across all five indicators.
Over the last decade, the average Index score increased from 56.3 in 2011 to 68 in 2022. In the latest Index update, the average OECD score improved by approximately two points from a score of 66 in 2021 to 68 in 2022.
Between 2021 and 2022, the majority of the improvement across the OECD was driven by an increase in the female labour force participation rate from 70.8 per cent to 72.1 per cent and a fall in the female unemployment rate from 6.4 power to 5.3 per cent.
However, the average gender pay gap across the OECD widened from 13.2 per cent to 13.5 per cent over this period. This shows that despite greater participation, women remain in a considerably weaker position in terms of labour market returns as compared to men.
Since the inception of the Index in 2011, the gender pay gap has been one of the indicators with the slowest improvement, narrowing only three percentage points between 2011 and 2022 across the OECD.
In terms of country ranking, Luxembourg ranks first on the WiW Index, followed by Iceland and Slovenia. The top five countries on the Index in 2021 continue to rank in the top five in 2022, but the ordering has changed.
Luxembourg’s strong performance was driven by an improvement on all indicators and especially by the fact that the country continues to have the lowest gender pay gap across the OECD. At -0.2 per cent, Luxembourg’s gender pay gap is negative, meaning that on average, the median level of pay is higher for women than men. The Nordic countries, Finland, Norway, Denmark, Sweden and Iceland, all appear in the top 11.
Mexico has scored the lowest on the Index since 2018. Its poor performance in 2022 was mainly driven by a high gender pay gap of 17 per cent along with a low female labour force participation rate of 50 per cent compared to a 14 per cent gender pay gap average across the OECD and a 72 per cent female participation rate.
Australia recorded the biggest improvement in its rank, rising seven places from 17th place in 2021 to 10th place in 2022, with a 6.6-point increase in its Index score. This was driven by an improvement across all five indicators and in particular, the gender pay gap, which fell from 14.2 per cent in 2021 to 9.9 per cent in 2022.
Conversely, the UK experienced the largest fall in the ranking, dropping four places from 13th in 2021 to 17th in 2022. This was largely a relative change despite a 1.1 point increase in the UK’s Index score, implying that the UK is being outpaced by other countries in terms of progress made towards achieving gender equality at work. The UK’s gender pay gap also increased from 14.3 per cent in 2021 to 14.5 per cent in 2022.
PwC’s Inclusion Matters research confirms that disparity in pay is a pain point for women in the workplace. It found that only 39 per cent of women feel they are being fairly rewarded financially for their work.
PwC drew insights from its Global Hopes and Fears Survey 2023, to compile the Inclusion Matters research, sharing fresh gender-focused perspectives from close to 54,000 workers globally, almost 23,000 of whom are women.
The research includes a Workplace Inclusion Indicator Index that measures three key dimensions of inclusion: belonging, fairness, and inclusive decision-making – and found that a statistically significant gender gap in favour of men.
The research found that there is a significant gap between the inclination of men and women to ask for promotions (-9 points) and pay raises (-8 points). However, women with Inclusion Index scores in the top quartile are 1.4 times more likely to ask for a raise, and 1.5 times more likely to ask for a promotion. They are also 2.2 times more likely to recommend their employer as a place to work.
Women’s turnover intentions increased (+8 points) this year with one in four women planning to change employers in the next 12 months, just slightly below the turnover intention rate for men at 27 per cent. Highlighting a further reason why inclusion matters, women with higher inclusion scores are 1.2 times less likely to change employers.
The report also finds that inclusion is positively correlated with self-driven development and women feeling higher levels of inclusion are 1.7 times more likely to be actively seeking out opportunities to learn and develop new skills.
It was also found that inclusion supports greater readiness from women to future-proof their careers which will be critical in driving gender equity gains at work. Women with high inclusion scores foresee greater benefits to their jobs from AI (+6 points), have a clear sense of how the skills their jobs require will change in the next five years (+14 points), and are more confident their employers will support with upskilling on key development skills (+21 points).
Both women and men who have hybrid work patterns – defined as having a mix of in-person and remote working – have the highest inclusion scores when it comes to work patterns. Women with higher inclusion scores are also less likely to be feeling the impact of overwork and 1.4 times less likely to say their workloads are frequently unmanageable.
It was also confirmed that job level matters as women in senior executive and management positions felt significantly higher levels of workplace inclusion than women in non-management positions (+9 points).
Millennial women feel the highest level of inclusion in the workplace, followed by Gen Z. However, Gen Z is the only generation where women feel similarly included to men.
Women working in the technology industry had the highest Inclusion Index score across all 26 industries included in the research and were one of only four industries for which women had slightly higher inclusion scores than men.
Speaking on the result, Ms Olusola Adewole, Partner and Workforce Transformation Leader, West Market Area, PwC, said “At PwC, we truly believe that inclusion matters in driving progress towards gender parity. Our research shows workplace inclusion is an important lever in propelling women’s development and advancement. A workplace where women feel that they belong, are included in decision-making, and are treated equitably is a workplace where they can thrive.”
By Adedapo Adesanya
Daystar Power Group has expanded its renewable energy partnership with Nestlé in West Africa, commissioning solar power systems with a combined capacity of 6.884 megawatts across four manufacturing facilities in Côte d’Ivoire, Ghana, and Senegal.
According to a statement, the deployments bring the total installed capacity across Nestlé’s sites to 6,884 kWp, nearly 7 megawatts, making it one of the largest commercial and industrial solar partnerships in the region.
The four sites, two in Abidjan, one in Tema, and one in Dakar, are all fully operational, with each system designed around the specific grid and operational profile of its location.
“Nearly 7 megawatts across four Nestlé facilities is a number we are proud of, but what it represents matters more than the figure itself. It means that one of the world’s most demanding manufacturers has tested our model, trusted it, and come back. Our job now is to keep earning that, across every market where industry needs energy it can count on,” Mr Yischai Beinisch, CEO, Daystar Power Group said in a statement.
The partnership began with a single commissioning and expanded to span three countries and four facilities. In Côte d’Ivoire, Daystar Power has delivered 3,447 kWp across two Abidjan sites. In Ghana, a 2,547 kWp system powers Nestlé’s Tema factory. In Senegal, an 890 kWp installation operates at the Dakar facility.
The company said each system is sized and configured to deliver measurable environmental and social impact, including reduced greenhouse gas emissions and improved energy resilience. The design is tailored to the operational and grid conditions at each location, ensuring reliable, clean energy access while supporting local development and aligning with Nestlé’s publicly stated net-zero commitments.
Adding his input, Mr Samer Chedid, CEO, Nestlé Central and West Africa Region, said the investment reflects its commitment to building a business that not only grows but does so responsibly.
“By advancing solar energy projects in Ghana, Côte d’Ivoire, and Senegal, we are embedding sustainability into our growth, reinforcing our role as a force for good, creating long-term value for communities, and ensuring that our footprint actively contributes to a cleaner, more resilient future,” he said.
By Adedapo Adesanya
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Ministry of Defence have agreed to deepen collaboration on the protection of critical oil and gas infrastructure through a new non-kinetic security framework designed to curb threats, strengthen community relations and sustain rising output.
The initiative comes as Nigeria recorded crude oil production of nearly 1.8 million barrels per day, one of the highest production levels in recent years, amid intensified efforts to combat crude oil theft, pipeline vandalism and other security challenges across the Niger Delta.
Speaking during a courtesy visit by a delegation from the Ministry of Defence to the Commission’s headquarters in Abuja, the chief executive of NUPRC, Mrs Oritsemeyiwa Eyesan, said the country’s recent production gains were directly linked to coordinated interventions involving security agencies and industry stakeholders.
“Today, we are benefiting from those efforts. Last month, we recorded production of nearly 1.8 million barrels per day throughout the month,” Mrs Eyesan said.
She noted that sustained investments in security operations, technology deployment and human capacity development had significantly improved production stability and operational efficiency in the upstream petroleum sector.
According to her, maintaining and expanding the gains has become critical as Nigeria seeks to increase crude oil output, attract fresh investments and maximise revenue generation from the petroleum industry.
“As we look to the future, we desire to grow production and must have assurances that security threats can be effectively managed. We can only achieve this through stronger collaboration with security agencies and industry stakeholders,” she stated.
Mrs Eyesan stressed that safeguarding oil and gas assets remains central to Nigeria’s energy security strategy and economic growth objectives, noting that production assurance has become a key requirement for investors considering new upstream projects.
She disclosed that the Commission was exploring wider deployment of advanced technologies, including drone surveillance systems, to improve monitoring of the country’s vast oil and gas infrastructure network and detect threats before they escalate into operational disruptions.
The NUPRC boss further revealed that the Commission would work closely with operators to refine and implement a new security framework, while providing leadership in stakeholder engagement and governance structures needed to ensure long-term sustainability.
The Minister of Defence, Mr Christopher Gwabin Musa, said the Ministry was introducing a non-kinetic security intervention model aimed at addressing the underlying causes of insecurity in oil-producing communities.
Rather than relying solely on military operations, he explained that the strategy would focus on community engagement, youth empowerment and social inclusion programmes to build lasting peace around critical energy infrastructure.
“One of the best ways to engage youths in oil-producing areas is through sports-based interventions,” Mr Musa stated.
He explained that the initiative would utilise sports development programmes to channel youthful energy into productive activities, reduce vulnerability to criminal networks and strengthen community ownership of critical national assets.
The Defence Minister, who was represented by one of his aides, added that the intervention would also include structured programmes for persons living with disabilities, creating broader opportunities for participation and economic inclusion in host communities.
According to him, the initiative aligns with the Host Community Development provisions of the Petroleum Industry Act (PIA) and is expected to strengthen relationships between operators and host communities while promoting sustainable development.
By Adedapo Adesanya
Port and Terminal Multiservices Limited (PTML) has disclosed the investment of $50 million to expand its terminal at Tin Can Island Port, Lagos, as part of efforts to strengthen Nigeria’s bid to become the leading maritime hub in West and Central Africa.
PTML Managing Director, Mr Ascanio Russo, made the disclosure on Wednesday during a visit to the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, in Abuja.
The investment by PTML, a member of the Grimaldi Group, will expand berthing capacity and acquire additional modern port equipment.
“The Grimaldi Group remains deeply committed to Nigeria and believes in the country’s potential as the leading maritime and logistics gateway in West and Central Africa,” Mr Russo said.
“This $50 million investment is designed to expand our berthing capacity and deploy modern equipment that will enhance operational efficiency, cargo handling, and service delivery.”
He said the upgraded berths would enable PTML to receive next-generation Container/Roll-on Roll-off, Con-Ro, vessels, including the largest Con-Ro ships currently operating globally, directly at the Lagos terminal.
“The maritime industry is evolving rapidly, with larger vessels becoming the standard for international trade. Through this expansion, PTML will be fully equipped to accommodate these next-generation Con-Ro vessels and keep Nigeria competitive for global shipping lines,” Mr Russo stated.
He added that the project responds directly to the Federal Government’s call for increased private-sector participation in port modernisation.
Mr Russo said the expansion would facilitate trade, increase cargo throughput, create jobs during construction and operations, and boost government revenue through higher port activity.
On his part, Mr Oyetola welcomed the investment as a vote of confidence in the Federal Government’s maritime reforms.
“This investment shows our reforms are yielding results and that international investors recognise the opportunities in Nigeria’s maritime sector,” the minister said. “We are determined to transform our ports into modern, efficient, and globally competitive gateways that support economic growth and position Nigeria as the maritime hub of West and Central Africa.”
Mr Oyetola said the government was implementing measures to improve port efficiency, reduce bottlenecks, upgrade infrastructure, and strengthen the ease of doing business.
He said these include port modernisation, deeper collaboration with private operators, digitalisation of port processes, and policies to attract more maritime trade.
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