Businesses and financial institutions that champion gender-inclusive policies are not just promoting fairness but making strategic economic decisions that lead to increased profitability and broader economic growth.
This was the central message at the ‘Ring the Bell for Gender Equality’ event organized by the Ghana Stock Exchange (GSE) in collaboration with the International Finance Corporation (IFC) and other global partners.
According to the IFC’s Senior Country Officer for Ghana, Cemile Hacibeyglu, ensuring that women have equal opportunities in the business and financial sectors is not just a moral obligation but a business imperative. Companies that prioritize gender diversity, particularly in leadership, have been shown to outperform their peers. Research indicates that businesses in the top quartile for gender diversity on executive teams are 21 percent more likely to experience above-average profitability than those in the bottom quartile.
IFC’s Commitment to Gender-Inclusive Growth
IFC is actively working to enhance economic opportunities for women-led businesses in Ghana and beyond. By collaborating with financial institutions, the organization is helping to increase lending to women entrepreneurs, enabling them to expand their businesses, create jobs, and drive economic growth. Beyond Ghana, the IFC-led initiative, SheWins Africa, is supporting up to 5,000 women-led startups with investment-readiness training and access to investors, unlocking new economic opportunities for female entrepreneurs.
Globally, the IFC’s investments are focused on breaking barriers and expanding financial access for women. By supporting companies that champion gender diversity, the institution aims to create inclusive business environments that benefit both corporations and the wider economy.
The Gender Gap and Africa’s Progress
Despite progress in gender inclusion, significant gaps remain. On average, women globally enjoy only 77 percent of the legal rights that men do, with nearly 2.4 billion women living in economies that do not grant them equal rights. In sub-Saharan Africa, the gender gap stands at 32 percent across key areas such as political participation, economic opportunity, education, and health. At the current rate, it will take Africa 95 years to achieve gender parity.
However, Africa leads globally in female representation on company boards, with 25 percent compared to the global average of 17 percent. Additionally, the continent has the highest proportion of women entrepreneurs in the world, with one in four businesses being women-led.
Technology and Private Sector Initiatives
Innovations in technology and digital platforms are playing a transformative role in bridging gender gaps across Africa. Women now have greater access to jobs, markets, and education through digital solutions. At the same time, businesses are stepping up by implementing policies that foster gender inclusivity, recognizing that when women succeed, entire industries and economies thrive.
Call to Action
The event also highlighted the need for bold, coordinated action from both the public and private sectors to close gender gaps. Governments, businesses, and development institutions must collaborate to eliminate barriers, challenge outdated norms, and create environments where women can thrive.
GSE Managing Director, Ms. Abena Amoah, speaking on this year’s theme, ‘Ring the Bell for ALL Women and Girls: Rights. Equality. Empowerment,’ pointed out that gender equality is a necessity, not a choice. She lamented the continued economic and legal barriers women face globally and urged stakeholders to intensify their efforts in promoting gender-inclusive policies.
As the global economy evolves, businesses and financial institutions that prioritize gender diversity will be better positioned for sustainable growth. By investing in women, companies are not only advancing social progress but also strengthening their resilience and competitiveness in an increasingly dynamic market.
