ACCA held a pan-African event to celebrate International Women’s Day this week (see box). Members and guest speakers explored, among other things, the impact of bias and gender inequality on Africa’s business ecosystem, and considered what financial institutions and policymakers could do to break the glass ceiling.
The discussion was informed by a report from McKinsey exploring the ‘power of parity’ for the continent, which reveals the potential boost to economic growth that could result from accelerating progress toward gender equality. Some of the findings are below.
The report suggests a number of interventions that could bring about change:
- Invest in resources to improve the skills, experience, resilience and knowledge of human capital, including: educating girls; increasing women’s skills levels; enhancing financial, digital and legal literacy; and deploying funds effectively to build accessible, appropriate and affordable healthcare systems.
- Create pathways for African women into better-paid jobs in the informal sector; enable women to find improved working prospects in the formal sector; encourage company leaders to propel change from the top with a clear strategy and targets; create a positive, inclusive and supportive environment; unlock opportunities for women-owned businesses; and develop public and household infrastructure.
- Create and leverage technology to drive digital inclusion; spread the use of digital to raise financial inclusion and empower female entrepreneurs.
- Shape attitudes about the role of women in society via campaigns that raise awareness and advocacy, supported by effective monitoring and evaluation; enlist male champions.
- Enforce laws, policies and regulations and put in place enabling policies and regulations that drive progress toward gender equality.
ACCA contributes to the debate
At ACCA’s two-day pan-Africa event to mark International Women’s Day, ACCA president Orla Collins gave a pre-recorded presentation on ACCA’s commitment to the UN SDGs on gender equality and reducing inequalities.
Keynote speakers participating live in the proceedings were Peace Masozera Uwase FCCA – director general, financial stability, National Bank of Rwanda, and Ndidi Nnoli-Edozien – sustainability and empowerment advocate and founder/chair of Afrikairos.
Presentations and panel discussions covered breaking the gender bias in the workplace, closing the parity gaps in the business ecosystem, addressing the impact of inequality on career progression, and how the next generation could be empowered through a culture of diversity and equal opportunities for all.
ACCA’s director for Africa Jamil Ampomah reiterated ACCA’s longstanding commitment to inclusivity, while Lucia Real-Martin, executive director – markets, spoke on the chance to rethink how our economies are structured in a post-pandemic world with policies formed to ensure equal opportunities.
The event closed with a call to action from Tom Isibor, head of ACCA Nigeria, encouraging members to take individual responsibility for breaking the bias and leveraging opportunities.
More information
Listen to ACCA’s International Women’s Day webinar on demand
Read the ACCA reports Gender Responsive Budgeting and Leading inclusion
