Africa’s women are key to unlocking 23 million jobs by 2030, report finds
A recent report by the Mastercard Foundation and McKinsey & Company has disclosed a significant economic potential of increasing women’s participation in Africa’s formal labour force.
The report predicts that if women’s employment is promoted, the continent's gross domestic product (GDP) could rise by 5% by 2030, potentially adding 23 million jobs.
Further, the report discloses a decline in women’s economic contribution, which has dropped from 18% in 2000 to just 11% in 2022. The decline correlates with a rise in the number of young women who are not engaged in employment, education, or training.
According to the report, a primary solution to this challenge lies in enabling women to better manage care responsibilities, thereby increasing their access to the formal labour market.
Only 26% of African girls finish secondary school, and a mere 8% pursue tertiary education, which hinders their access to higher-paying jobs and diminishes their overall economic contribution.
The report calls on governments to enact and implement favourable laws that empower young women to become entrepreneurs, thus creating job opportunities for themselves and their peers.
Additionally, there is a strong push for programs that promote STEM education for young women in both urban and rural areas, as well as initiatives supporting second-chance education.
