Gender Equality in Business: A Key Driver of Economic Growth – IFC

Companies that actively promote gender inclusion are not just fostering fairness but also positioning themselves for greater profitability and long-term economic resilience. This was the key takeaway from 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.

Gender Diversity: A Business Imperative

According to Cemile Hacibeyglu, IFC’s Senior Country Officer for Ghana, closing gender gaps in business leadership and financial access is not just a social responsibility—it is a competitive advantage. Research shows that companies with strong gender diversity at the executive level are 21% more likely to achieve above-average profitability compared to those with low female representation.

“Ensuring equal opportunities for women in business and finance is not only the right thing to do but also the smart thing to do,” Hacibeyglu emphasized.

IFC’s Push for Women’s Economic Empowerment

As part of its commitment to gender inclusion, the IFC is working closely with financial institutions to expand lending to women-led businesses, helping them scale up, create jobs, and contribute more meaningfully to economic development.

Beyond Ghana, the IFC’s SheWins Africa initiative is providing investment-readiness training and funding opportunities for up to 5,000 women entrepreneurs across the continent. The goal is to break barriers, enhance access to capital, and empower female-led startups to thrive in competitive markets.

Africa’s Gender Parity Challenge

While Africa is making strides in gender inclusion, significant gaps persist. Women globally have only 77% of the legal rights that men enjoy, with nearly 2.4 billion women living in economies where gender-based restrictions limit their economic participation.

In sub-Saharan Africa, gender disparities span key areas such as economic opportunity, education, healthcare, and political representation. At the current pace, it could take up to 95 years to close the gender gap entirely.

Despite these challenges, Africa stands out in one key area: it leads the world in female representation on company boards, with 25% of board seats held by women—well above the global average of 17%. Additionally, one in four businesses in Africa is women-led, making the continent home to the highest proportion of female entrepreneurs worldwide.

Leveraging Technology for Gender Inclusion

Technology is proving to be a game-changer in bridging gender gaps. Digital platforms are expanding women’s access to financial services, education, and market opportunities. Many businesses are also recognizing that adopting gender-inclusive policies translates into higher productivity, stronger customer engagement, and better financial performance.

A Call to Action

GSE Managing Director, Ms. Abena Amoah, speaking on the theme, ‘Ring the Bell for ALL Women and Girls: Rights. Equality. Empowerment,’ stressed that gender equality must be treated as an economic necessity, not an afterthought.

She called for stronger collaboration between governments, businesses, and development institutions to dismantle systemic barriers and create an inclusive environment where women can succeed.

“As businesses and economies evolve, those that prioritize gender diversity will not only drive social progress but also build stronger, more resilient enterprises,” she stated.

As the global economy becomes more competitive, companies that invest in women today will lead the industries of tomorrow.