As economies worldwide struggle to close gender gaps in leadership, four African nations—Burkina Faso, Nigeria, Botswana, and Zambia—are setting remarkable benchmarks. Recent figures from the International Labour Organisation (ILO) reveal that women hold 69.9% of managerial positions in Burkina Faso, the highest proportion globally.
Nigeria follows closely at 67.5%, while Botswana ranks fourth at 51.9%, just behind Jamaica. Zambia also makes the top ten, securing eighth place with 46.9%.
These statistics not only far exceed the global average of 28% but also outpace G7 countries, including the United States (30%) and Germany (18%), in fostering gender-inclusive corporate leadership.
Africa’s corporate shift towards gender parity is not accidental—it is the result of targeted policy reforms.
In 2020, Burkina Faso introduced a Gender Quota Law requiring women to occupy at least 30% of board seats in state-owned enterprises. The result? Women now hold 45% of leadership positions across the country’s top 50 companies, according to ILO audits.
Similarly, Nigeria revised its National Gender Policy in 2021, introducing private-sector incentives for gender-balanced hiring. This has driven a surge in women-led tech start-ups, which secured 35% of Nigeria’s US$1.2 billion in venture capital funding in 2022, according to Partech Africa.
Despite this progress, women in leadership are still concentrated in traditionally “female-centric” roles such as human resources, finance, marketing, and public relations. While this increases overall female representation in management, it has not yet translated into significant gains in top executive roles, according to McKinsey.
The United Nations estimates that, on average, only one in seven board members in Africa is a woman, with one-third of corporate boards lacking female representation entirely.
However, some nations are making strides. The highest proportion of women on corporate boards is found in:
This highlights both progress and the challenges ahead in achieving gender parity at the highest levels of leadership.
A notable transformation is unfolding in Nigeria’s banking industry, where 11 leading banks are now headed by women—a historic milestone for gender equality in corporate leadership.
These include:
Botswana and Zambia are demonstrating how investing in education translates into leadership gains.
Its impact is already evident at Zanaco Bank, where women now comprise 46% of the workforce and hold 30% of senior management positions. Among mid-level managers, Female Executive Network graduates make up a significant share, signalling a broader shift towards gender equity in corporate leadership.
African companies with over 30% female executives report 23% higher profitability than their peers, according to a 2023 McKinsey study.
In Burkina Faso, women-led firms have reduced employee attrition by 18% by introducing policies such as subsidised childcare and flexible working hours, ILO productivity reports show.
Nigeria’s booming fintech sector further illustrates the advantages of diverse leadership. Flutterwave, co-led by CFO Olugbenga Agboola, saw a 40% increase in revenue after expanding mentorship opportunities for women in tech. Its Lady With A Difference (LWAD) programme has since become a model for corporate initiatives across Africa.
In Botswana, women executives are championing sustainability, with 60% of renewable energy firms now led by women, aligning with global Environmental, Social, and Governance (ESG) goals.
The ripple effects of increased female leadership are becoming apparent.
Despite these advancements, significant challenges remain:
African nations are proving that policy-driven gender inclusion can yield economic and social dividends. However, sustaining these gains will require:
As countries refine their gender policies, Africa has the potential to redefine corporate leadership on the global stage, setting a precedent for other regions to follow.
“Policies must pair with financial infrastructure,” said Vera Songwe, former UN Economic Commission for Africa head. “Without credit, growth plateaus.”
