Women are the spine of many modern societies—a stance that remains debatable across several schools of thought. In Africa, like in many major societies, women play a critical role in nation-building, starting from the home front—raising children (wards) who would later become leaders—and conceptualising and launching businesses to support their families while contributing to the economy. African women drive many sectors and subsectors on the continent.
“If more women participated in the economy squarely as men, it would add up to $28 trillion, or 26%, to annual GDP by 2025 compared with a business-as-usual scenario.”- The Organisation for Economic Co-operation and Development (OECD).
Women make up 50% of the global population. Yet, a massive gender gap has limited them to two-thirds of the global workforce, with a mere 10% of the income and just 1% of the assets. In about 86 countries, women encounter some forms of job restriction, and 95 countries do not guarantee equal pay for equal work. They earn less than their male counterparts and get fewer opportunities- amid a series of gender biases. That has reduced their contributions to just 37% of the global GDP as of the last decade.
Cultural and social norms that limit women’s participation are at the core of the biases against them. However, according to the Organisation for Economic Co-operation and Development (OECD), if more women participated in the economy squarely as men, it would add up to $28 trillion, or 26%, to annual GDP by 2025 compared with a business-as-usual scenario. This economic potential is highest in developing countries, the majority of which are on the African continent.
Women’s Economic Empowerment (WEE) is a transformative process that helps women and girls move from limited power, voice, and choice at home and in the economy to have the skills, resources, and opportunities needed to compete equitably in markets as well as the agency to control and benefit from economic gains. African governments and stakeholders must look past traditional and cultural norms to create policies and strategies for women’s empowerment. When a woman is empowered, her children, household and economy automatically get a lease of life.
Thus, more African women should have equal access to learning opportunities- such as digital and technical skills- to help improve their output and productivity. More so, relevant authorities across the public and private sectors should work to provide equal jobs, appointments, funding and leadership opportunities for women as much as the do for men. For Africa to have a sizable share of the OECD-forecasted additional GDP of $28 trillion by 2025, its leaders and policymakers need to double down on efforts to provide and accelerate gender parity across all sectors of the economy.
