“I got to learn about my talent and strength as a woman, and how to work on everything that I felt held me back. I learned that I am qualified to speak my mind, to drive change and create Business – I learned that I am capable of being a leader!”
-Female talent participant
A McKinsey Global Institute report finds that $12 trillion could be added to global GDP by 2025 by advancing women’s equality, and in Sub-Saharan Africa alone up 12% in added GDP growth - equivalent to an estimated 0,3 trillion USD.
Furthermore, studies show that companies with a more equal representation of women and men in leading positions are more innovative and generate up to 21% higher profitability compared to less equal companies. Women also drive up to 70-80% of all consumer purchasing globally, which translates to a USD 15 trillion business opportunity – of which more than half comes from developing countries – and highlights the fact that women are the world’s most powerful consumer and their influence in future economic growth.
However, women representation across all sectors and seniority show great disparities. In Africa women represent only 5% of CEO positions and 29% of senior management positions. Statistics also reveal that men are more likely to be hired into manager-level jobs and they are far more likely to be promoted into them. On average 64% of promotions go to male workers as opposed to 36% of women workers across sectors in Africa.
The Women4Growth program is a resource that can help unlock opportunities of a female workforce and the talent that already exists within an organisation.