Boardrooms shape the future of industries, yet they remain largely male-dominated spaces, even in an era of corporate diversity pledges. read more Women in boardrooms: Is gender parity a reality or an illusion?
Despite corporate diversity pledges, boardrooms remain male-dominated globally, with women holding only 28% of board seats in 2023. Women face slower career advancement, often being appointed only during crises ("glass cliff"), and have low confidence in their companies' gender equality actions. In Africa, boardroom gender diversity is uneven, with an average of 12.7% female representation, but as low as 5.1% in some countries. Nigeria's workforce is nearly half female, yet women hold only 17% of board seats, and progress towards greater female representation has stalled. Research indicates that companies with at least 30% female board representation outperform others, yet the slow progress suggests this financial advantage is not fully recognized.
