TheBoardroom Africa to double Female Boardroom Representation by 2028
TheBoardroom Africa (TBrA) is the leading network of board-ready women across Africa. Through its marketplace platform connecting development finance institutions, private equity funds and corporations with peer-endorsed female candidates, TBrA is ending the narrative that has so often encouraged excuses for not appointing women into the boardroom. With its ground-breaking methods, TBrA aims to double current levels of female board representation in Africa by 2028.
The negative effects of gender inequality across the world are a serious issue that institutions and corporations across Africa can no longer avoid. According to the United Nations, unequal treatment of women costs sub-Saharan Africa approximately $105bn (6% of gross domestic product) each year. Improving the state of women in the workplace, therefore, is essential for Africa’s development. TheBoardroom Africa is helping Africa reap the developmental dividends of women in the workplace by accelerating representation of women in the boardroom and driving gender equality across the continent in order to improve institutional performance. Current clients include the CDC Group, the largest single investor in private equity funds in Africa.
Research from McKinsey shows that companies in the top quartile for gender diversity are 15 per cent more likely to have financial returns above their industry peers lacking women in the boardroom. In Africa, where women make up only 14 per cent of board directors and 5 per cent of CEOs, the development dividends could be significant. Global leaders are increasingly realizing the impact of inclusive decision-making and the role this plays in improving the economy—especially in fast-growing emerging markets. Through training, pioneering research, and curating a database of senior executive women from over 40 African countries, TheBoardroom Africa is transforming the face of boardrooms across Africa.
Recognising the unique role that men must play in advancing gender equality is also critical, TheBoardroom Africa uses a unique 'endorsement model' which allows senior executives to recommend talent to the network. This approach ensures that TheBoardroom Africa connects with the highest calibre talent and enables the organisation to build a robust pipeline of women across all sectors, who might otherwise be overlooked by traditional networks.
TheBoardroom Africa also recently debuted its flagship board certification programme, ‘Open Doors’ in partnership with the internationally recognised Institute of Directors. Open Doors will create opportunities for women who have senior executive experience but little to no previous board experience by ensuring they are equipped with the resources they need to be successful leaders.