As business leaders in Africa, we know a good deal when we see one. We know how to spot untapped potential, and how to turn challenges into opportunities. But there’s something we’re consistently overlooking, something that’s costing us dearly; our women. Think about it. Half our population. That’s a massive pool of talent, energy, and innovation just sitting there, often sidelined, underutilized, or outright ignored.
“Where different perspectives are valued, where women feel like they truly belong, and where their ideas are heard.”
And that’s exactly what we’re doing with our economies. We’re leaving billions on the table, because we’re not fully tapping into the potential of our women, and it’s a fundamental issue holding our economies back.
The data presents a stark reality, a continental gender parity score of 0.58. McKinsey’s research indicates that closing this gender gap could yield a substantial 10 percent increase in Africa’s collective GDP by 2025, a multi-billion dollar opportunity currently unrealized. Furthermore, at the current rate of progress, achieving true gender parity is projected to take over 140 years.
We see stark disparities. South Africa’s 0.76 score highlights progress, while Mauritania, Mali, and Niger’s 0.46 and 0.45 reflect significant hardship. This translates to real struggles, lost businesses, limited education, and healthcare access. This reflects the lives we’re impacting, or neglecting, across Africa.
We need to face some hard facts. Over half of our population, our women, contributed just 33 percent to our continent’s GDP in 2018. That is a gaping wound in our economic potential. We’re talking about billions of dollars, potential businesses, and entire industries that are simply not reaching their potential. We lose every fraction of a point on that parity scale. That’s a missed opportunity. A missed contract. A missed chance for a thriving community. It’s about the very real impact this has on our markets, our growth, and ultimately, our ability to compete on a global stage.
Why are we seeing these numbers? Because, let’s be honest, many of our women are stuck in the informal sector. They’re working the fields, keeping homes, selling on the streets, hard work, but with little to no pay and no security. We know this. We see it every day. And yes, we’ve made some progress, a few women breaking through to leadership. But at the middle management and senior positions, it’s still largely a ‘boys’ club.’ We’re shutting out a wealth of experience and perspective. We’re losing out on the critical insights women bring to the table, the different ways they solve problems, the networks they have. It’s a strategic blunder.
And let’s not forget the societal shackles. Education gaps, digital deserts, political invisibility, and financial roadblocks. These aren’t just barriers; they’re concrete walls built to keep women out. Denying women quality education is denying Africa its future innovators. Limiting digital access is shutting them out of the 21st-century economy. Underrepresenting them in politics is silencing half the nation’s voice. And withholding financial resources? That’s crippling their economic potential.
But there’s a way out. We need to demolish those walls. First, tackle the deep-rooted biases that poison our societies. Education, not just for boys, but for girls too. Challenge the stereotypes that confine women to outdated roles. We need to create workplaces where diversity is celebrated. Where different perspectives are valued, where women feel like they truly belong, and where their ideas are heard. We need to build companies where women are leading, innovating, and driving growth.
Investing in women’s human capital isn’t charity; it’s smart economics. Educated women drive economic growth, break the cycle of poverty, make better decisions, and build stronger communities. They’re not just contributors; they’re catalysts.
Look at the numbers. A 47.6 percent female labor force participation rate in 2020. It’s a start, but it’s nowhere near enough. Ghana boasts a 52 percent employment rate with proactive financial inclusion initiatives. Kenya is focusing on education and skills, while Nigeria pushes for political representation. These are steps in the right direction, but they’re just drops in a parched desert.
Empowering women isn’t just a moral imperative; it’s a strategic necessity. A level playing field unleashes untapped talent, fuels innovation, and drives sustainable growth. When women thrive, it’s a hard economic fact. When they’re empowered, their businesses flourish. They create jobs, they invest in their families, their communities. And when communities flourish, our local economies boom. We see increased consumer spending, a more vibrant market, and a stronger foundation for growth. And ultimately, when our local economies thrive, our nations prosper.
It’s time to wake up. We can’t afford another 140 years of stagnation. The goldmine is right here, within our reach. We must break the chains, unlock the potential, and build a future where every woman has the chance to rise. It’s about survival. And it’s about building an Africa that finally lives up to its promise.
Ota Akhigbe is a Director of Partnerships and Programmes at eHealth Africa and a strategic business advisor. Her work focuses on driving sustainable development and empowering communities across Africa, particularly through improved access to healthcare and economic opportunities. She is a passionate advocate for gender equality and believes that unlocking the potential of women is critical to the continent’s progress.
