By Seth Onyango
As global economies grapple with gender gaps in leadership, four African nations—Burkina Faso, Nigeria, Botswana, and Zambia—are setting unprecedented benchmarks.
Recent data from the International Labour Organization (ILO) shows that 69.9% of managerial roles in Burkina Faso are held by women, the highest rate worldwide.
Nigeria ranks second, with 67.5%, Botswana is fourth, with 51.9% (just behind Jamaica), and Zambia is eighth, with 46.9%
These figures eclipse the global average of 28% and also outpace G7 nations like the U.S. (30%) and Germany (18%) in gender-inclusive corporate governance.
Analysis shows Africa’s corporate transformation is rooted in deliberate policy shifts.
For instance, Burkina Faso’s 2020 Gender Quota Law mandated that women occupy at least 30% of board seats in state-owned enterprises. This has driven female leadership to 45% across its top 50 firms, per ILO audits.
Similarly, Nigeria’s National Gender Policy, revised in 2021 to include private-sector incentives for gender-balanced hiring, has catalysed a surge in women-led tech startups.
These firms secured 35% of Nigeria’s US$1.2 billion tech venture capital in 2022, according to Partech Africa.
Despite progress, women in leadership across Africa are often concentrated in traditionally “female-centric” fields such as human resources, finance, marketing, and public relations.
While this boosts female management figures overall, it does not always translate to greater representation in C-suite roles of major corporations, according to McKinsey.
UN estimates show that on average, only one in seven board members in Africa is a woman, and one-third of corporate boards have no female representation at all.
The highest shares of women board members are found in Kenya (19.8%), Ghana (17.7%), South Africa (17.4%), Botswana (16.9%), and Zambia (16.9%), highlighting both progress and the long road ahead for gender parity in top executive roles.
However, there is a notable shift in Nigeria’s banking sector, where 11 leading banks, including Access Holdings, GTBank and Zenith Bank, are currently helmed by women, marking a significant step toward gender parity in corporate leadership.
Other leaders are Fidelity Bank, FCMB, Unity Bank, FSDH, Union Bank, SunTrust Bank, Citibank, and Lotus Bank.
Meanwhile, Botswana and Zambia exemplify how education investments yield leadership dividends. Botswana’s tertiary enrolment rate for women reached 67% in 2023 (World Bank), directly correlating with a 24.35% increase in female managers since 2020.
Zambia’s Female Executive Network, a public-private partnership, has trained over 5,000 women for leadership roles since 2021.
Its impact is already visible at firms like Zanaco Bank, where women make up 46% of the workforce and now hold 30% of senior management positions.
Among mid-level management, Female Executive Network graduates account for a significant share, signalling a shift towards stronger female representation in corporate leadership.
African companies with over 30% female executives report 23% higher profitability than peers, per a 2023 McKinsey study.
In Burkina Faso, firms led by women have reduced employee attrition by 18% through policies like subsidised childcare and flexible hours, according to ILO productivity reports.
Nigeria’s fintech boom underscores this trend. Flutterwave, co-led by CFO Olugbenga Agboola, saw a 40% revenue jump after expanding mentorship for women in tech. Its Lady With A Difference (LWAD) program has now become a model for corporates in Africa.
Similarly, Botswana’s female executives are prioritising ESG initiatives, with 60% of renewable energy firms now helmed by women, aligning with global sustainability goals.
The social ripple effects have been notable in northern Nigeria, where UNESCO notes that historically, only 12% of women accessed higher education. New data is not yet available.
But initiatives like “She Leads Africa,” for instance, have trained 30,688 women entrepreneurs since inception in 2016 with over 50 certified trainers.
She Leads Africa, in partnership with META, is a program focused on unlocking the potential of women entrepreneurs across Africa.
Despite progress, challenges linger. South Africa, the continent’s most industrialised economy, trails with women in just 29% of managerial roles (ILO 2022).
Even in top-performing nations, rural-urban divides persist. Burkina Faso’s urban centres boast 61% female secondary education rates versus 22% in rural areas (UNESCO), limiting leadership pipelines outside cities.
Access to capital remains a systemic barrier. The African Development Bank estimates a US$42 billion financing gap for women-led businesses, stifling scalability. “Policies must pair with financial infrastructure,” said Vera Songwe, former UN Economic Commission for Africa head. “Without credit, growth plateaus.”
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Four African countries—Burkina Faso, Nigeria, Botswana, and Zambia—are leading global progress in gender equality in corporate leadership. Burkina Faso tops the chart with women holding 69.9% of managerial roles, followed by Nigeria with 67.5%. Botswana and Zambia also surpass the global average, which is only 28%, with Botswana at 51.9% and Zambia at 46.9%. These achievements are attributed to policy shifts, such as Burkina Faso's Gender Quota Law and Nigeria's National Gender Policy, which encourage female representation in leadership roles.
Despite progress, challenges remain, such as a concentration of women in traditionally female-centric fields and a lack of female representation in top corporate positions. On average, only one in seven board members in Africa is a woman. However, Nigeria's banking sector has significant female leadership, with several major banks headed by women.
Educational investments play a critical role, evident in Botswana and Zambia, where higher female participation in education correlates with increased female managers. Programs like Zambia’s Female Executive Network further support this trend by training women for leadership roles, contributing to stronger female representation in middle and senior management.
However, persistent obstacles include access to capital, with a $42 billion financing gap for women-led businesses noted by the African Development Bank. Additionally, rural areas lag in female secondary education, limiting leadership pipelines beyond urban centers. Addressing these challenges requires aligning policies with financial infrastructure to promote equitable growth and scalability for women-led enterprises.
