According to McKinsey Global Institute, advancing women’s equality can add $12 trillion to the global growth by 2025.
McKinsey Global Institute (MGI) further reveals that there is lower representation of women in paid work in contrast to their higher representation in unpaid work. At least 75% of the world’s total unpaid care is undertaken by women; this includes child care, elderly care, cooking and cleaning.
However, this contribution is not counted in traditional measures of GDP and MGI estimates that unpaid work by women today amounts to as much as $10 trillion output per year.
The above are insights that the private sector, the public sector, practitioners and academia should consider when making policies and management decisions.
While significant progress has been made in different areas in most countries, gender equality for African women and girls continues to be a challenge given the slow progress.
I had an opportunity to speak at the African Union Summit recently where gender equality and equity are at the center of Africa’s social and economic development agenda.
Why have we made such a slow progress in this area over the years?
Could we be missing something?
There is now a desperate need to accelerate the implementation of the Beijing Platform for Action towards gender disparities in Africa. In fact, all over the world, women’s rights are threatened more now than ever before; this sentiment was echoed a few weeks ago at the Women’s Economic Forum in London.
One of the key drivers in advancing gender equality is the role of women’s political voice and leadership.
There is power in making women’s voices heard.
While it is important for policy makers to reduce barriers to gender parity it is just as important for us women to step up and re-claim our leadership and political positions.
So, for Africa to reach its economic growth, it is critical that we tap into both the human and natural resources potential. This is what the Kenya Timeless Women’s Conference was about – unlocking potential and igniting innovation in Africa through women.
We brought women and men all over Africa from all sectors.
These are strategic players and stakeholders who are instrumental in investing, supporting, and empowering women to reach their potential. Men are key partners in this strategy, which is a link that has been missing all along.
So, we have set strategies linked to specific projects that create enabling environment for women to get into the construction industry and leadership roles in corporations. We plan to conduct yearly reviews of these projects to monitor progress.
We have spoken enough; it is time for Action.
By limiting women’s growth, we limit Africa’s growth
Tumi Frazier – International Speaker // Author// Social Entrepreneur