The McKinsey & Company Women Matter Africa report sets out the progress made by the African private and public sectors in terms of women’s representation. While Africa equals – and even exceeds – international standards, there is still a long way to go to achieve true gender equality.
Among the conclusions are:
- Companies with greater gender diversity within their boards tend to perform better financially.
- The same applies to African companies; the top 25% most diverse companies have a 20% higher earnings before interest and taxes (EBIT) than their industry average.
- Those with boards made up of at least 25% women have a 20% EBIT above their industry average.
- In the private sector, Africa has more women board members, CEOs and managers than the world average. However, there is an under-representation of women at other hierarchical levels.
- In the public sector, Africa has more women in parliament than the world average, but this rate has to double to achieve gender equality.
- Although the number of women leaders has increased in the private as well as the public sector, they do not necessarily have more power or influence.
Go HERE to read the full report.