The AFRICA CEO FORUM and McKinsey & Company are pooling their expertise to launch the African Women in Business initiative at the 2017 AFRICA CEO FORUM on 20 and 21 March in Geneva. McKinsey & Company will participate as a knowledge partner.
PARIS, France, 8 February 2017 – The 2017 AFRICA CEO FORUM, the biggest international African private sector gathering, will host over 1,000 African and international personalities and key African industrial, financial and political decision-makers, including around 200 female business leaders from 43 African countries.
An essential platform for dialogue and networking, the AFRICA CEO FORUM is devoting this year’s edition to the role of women in African enterprise. As part of the African Women in Business initiative, a high-level panel will bring together the most influential women in the African private sector and the CEOs most active in promoting gender diversity. The goal is twofold: to identify the best strategies for increased female representation in business and to highlight the career paths of the women who have shaped the African private sector.
The African Women in Business initiative will also present the findings of the McKinsey & Company Women Matter Africa report. This report sets out the progress made by the African private and public sectors in terms of women’s representation. While Africa equals – and even exceeds – international standards, there is still a long way to go to achieve true gender equality.
By launching the African Women in Business initiative, the AFRICA CEO FORUM is contributing to the implementation of concrete solutions for the improvement of gender diversity. It aims, as in all matters to the life of African companies, to shake things up and push boundaries.
About the Women Matter Africa Report
Among the conclusions:
* Companies with greater gender diversity within their boards tend to perform better financially.
* The same applies to African companies; the top 25% most diverse companies have a 20% higher earnings before interest and taxes (EBIT) than their industry average.
* Those with boards made up of at least 25% women have a 20% EBIT above their industry average.
* In the private sector, Africa has more women board members, CEOs and managers than the world average. However, there is an under-representation of women at other hierarchical levels.
* In the public sector, Africa has more women in parliament than the world average, but this rate has to double to achieve gender equality.
* Although the number of women leaders has increased in the private as well as the public sector, they do not necessarily have more power or influence.
About the AFRICA CEO FORUM
Developed in partnership with the African Development Bank, the AFRICA CEO FORUM is an event organised by Groupe Jeune Afrique, publisher of Jeune Afrique and The Africa Report, and Rainbow Unlimited, a Swiss company that specialises in organising events promoting and facilitating business.
Launched in 2012, the AFRICA CEO FORUM has become the leading international meeting on the development of Africa and its companies, in a high-level professional setting. The 2016 edition hosted over 1,000 African and international personalities, including 600 business leaders from 43 African countries and 100 high-level speakers.