Tackling women's economic participation & how Africa can drive GDP growth

Women's active involvement in economic initiatives can grow African nations if progressive laws are put in place. With more conflict erupting in various parts of Africa, women remain the most vulnerable groupings. CNBC Africa spoke to Silvana Koch-Mehrin, President, Women Political Leaders for more. In a recent interview, Koch-Mehrin emphasized the importance of including women in all peace negotiations to ensure stability and sustainability. She highlighted that women bring unique experiences from conflict that must be considered to prevent recurring conflicts. Koch-Mehrin noted that excluding women from decision-making processes regarding peace, security, and societal healing can jeopardize the stability of peace agreements. Throughout Africa, the challenge lies in translating increased women's political representation into meaningful decision-making power and systemic change. Koch-Mehrin suggested that bold actions, such as implementing specific quotas for women in political representation and ensuring their significant involvement in decision-making processes, are essential to drive effective change. She emphasized that societal benefits can only be realized through proactive measures that empower women in leadership roles. The proven link between women's economic participation and GDP growth underscores the necessity for policies that unlock African women entrepreneurs' potential. Koch-Mehrin referred to data from the World Bank showing that women currently have two-thirds of the economic and financial rights that men possess. To address this disparity and promote economic opportunities for women, discriminatory laws must be eliminated and gender equality laws implemented. Additionally, Koch-Mehrin stressed the need for African nations to adopt complementary measures beyond gender quotas to instill lasting institutional change in political culture and leadership. She proposed initiatives such as reverse mentoring, where younger women mentor senior executives in businesses to raise awareness about existing challenges and promote gender inclusivity. By acknowledging and addressing these issues, businesses can effectively cater to the needs of their female consumers and contribute to a more equitable and prosperous society. Ultimately, empowering African women through legislative reforms, inclusive decision-making processes, and gender-sensitive business practices is crucial for driving economic growth, fostering stability, and achieving sustainable development across the continent.