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Ghana has produced some of the most admired women in Africa. From Akua Kuenyehia, former Vice President of the International Criminal Court, to Netflix’s chief marketing officer, Bozoma Saint John, Ghanaian women have a significant presence on the world stage.
Yet despite all the shining stars and international accolades, Ghana’s public and private sectors have fallen short when it comes to advocating for women in leadership at home. The glass ceiling stubbornly remains in place for leading women.
The participation of women in key leadership positions is essential for Ghana to unlock its full social and economic potential.
In government, Ghanaian women are extremely underrepresented in all branches. Women make up a measly 14% of parliamentarians and only a quarter of ministers.
Among mayors, the situation is no different: only 14% are women, and the number of women in the Council of State and on the boards of directors of public companies is low.
If you look at the private sector, the situation is no different. A new report published by TheBoardroom Africa in association with the Ghana Stock Exchange shows that among the 37 listed companies in Ghana, women are rarely included in the actual governance of some of Ghana’s most notable companies.
According to the 2020 Board Diversity Index, women hold only 23% of board positions and 24% of non-executive director positions.
Although this figure represents a 3% increase in women’s board positions and a 4% increase in non-executive director positions held by women from 2019, the Board Diversity Index shows that women still they are significantly underrepresented in the leadership and management of major corporations. in Ghana.
Companies that rank low in terms of gender equality often report that there are very few qualified women available for leadership or management positions.
But this statement is not true. Qualified women are everywhere and, thanks to the increasing participation of women in higher education, their numbers are increasing, although many disappear from the ranks as they move up the career ladder.
It is time for Ghanaian companies to adopt strategies to improve the presence of women on boards of directors because a growing body of research shows significant benefits associated with gender diversity on boards and in senior management.
Boards with gender diversity positively impact governance, and the presence of women on boards reduces the risk of fraud and corruption, and increases customer and employee satisfaction. Furthermore, studies also point to the positive influence of gender diverse management and boards on a company’s sustainability profile.
To take advantage of the diversity dividend, companies can adopt a number of proven strategies to improve the representation of women at the highest levels of leadership. First, they can address the pipeline problem by investing in early and mid-stage professionals and supporting high-performing professionals. Second, they can establish family-friendly workplace policies from childcare and parental leave to improve retention. Finally, they can engage and educate male business leaders on how diversity improves business performance and encourage them to step up and take on the role of mentor and sponsor. Adopting these forward-thinking approaches would ensure greater participation by women in shaping business strategy.
If Ghana hopes to realize its ambitions as a role model for the business community, it must adopt forward-thinking strategies to develop female leaders and involve more women in the governance process across the board.
The writer is the founder and CEO of TheBoardroom Africa, the region’s largest network for female board executives.
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