As economies worldwide struggle to close gender gaps in leadership, four African nations—Burkina Faso, Nigeria, Botswana, and Zambia—are setting remarkable benchmarks. Recent figures from the International Labour Organisation (ILO) reveal that women hold 69.9% of managerial positions in Burkina Faso, the highest proportion globally.
Nigeria follows closely at 67.5%, while Botswana ranks fourth at 51.9%, just behind Jamaica. Zambia also makes the top ten, securing eighth place with 46.9%.
These statistics not only far exceed the global average of 28% but also outpace G7 countries, including the United States (30%) and Germany (18%), in fostering gender-inclusive corporate leadership.
Policy-Driven Transformation
Africa’s corporate shift towards gender parity is not accidental—it is the result of targeted policy reforms.
In 2020, Burkina Faso introduced a Gender Quota Law requiring women to occupy at least 30% of board seats in state-owned enterprises. The result? Women now hold 45% of leadership positions across the country’s top 50 companies, according to ILO audits.
Similarly, Nigeria revised its National Gender Policy in 2021, introducing private-sector incentives for gender-balanced hiring. This has driven a surge in women-led tech start-ups, which secured 35% of Nigeria’s US$1.2 billion in venture capital funding in 2022, according to Partech Africa.
Despite this progress, women in leadership are still concentrated in traditionally “female-centric” roles such as human resources, finance, marketing, and public relations. While this increases overall female representation in management, it has not yet translated into significant gains in top executive roles, according to McKinsey.
The United Nations estimates that, on average, only one in seven board members in Africa is a woman, with one-third of corporate boards lacking female representation entirely.
However, some nations are making strides. The highest proportion of women on corporate boards is found in:
- Kenya (19.8%)
- Ghana (17.7%)
- South Africa (17.4%)
- Botswana (16.9%)
- Zambia (16.9%)
This highlights both progress and the challenges ahead in achieving gender parity at the highest levels of leadership.

Nigeria’s Banking Sector Breaks Barriers
A notable transformation is unfolding in Nigeria’s banking industry, where 11 leading banks are now headed by women—a historic milestone for gender equality in corporate leadership.
These include:
- Access Holdings
- GTBank
- Zenith Bank
- Fidelity Bank
- FCMB
- Unity Bank
- FSDH
- Union Bank
- SunTrust Bank
- Citibank
- Lotus Bank
Education Fuels Female Leadership
Botswana and Zambia are demonstrating how investing in education translates into leadership gains.
- In Botswana, female enrolment in tertiary education reached 67% in 2023 (World Bank), correlating with a 24.35% increase in women in managerial positions since 2020.
- Zambia’s Female Executive Network, a public-private partnership, has trained over 5,000 women for leadership roles since 2021.
Its impact is already evident at Zanaco Bank, where women now comprise 46% of the workforce and hold 30% of senior management positions. Among mid-level managers, Female Executive Network graduates make up a significant share, signalling a broader shift towards gender equity in corporate leadership.
Economic Gains from Women in Leadership
African companies with over 30% female executives report 23% higher profitability than their peers, according to a 2023 McKinsey study.
In Burkina Faso, women-led firms have reduced employee attrition by 18% by introducing policies such as subsidised childcare and flexible working hours, ILO productivity reports show.
Nigeria’s booming fintech sector further illustrates the advantages of diverse leadership. Flutterwave, co-led by CFO Olugbenga Agboola, saw a 40% increase in revenue after expanding mentorship opportunities for women in tech. Its Lady With A Difference (LWAD) programme has since become a model for corporate initiatives across Africa.
In Botswana, women executives are championing sustainability, with 60% of renewable energy firms now led by women, aligning with global Environmental, Social, and Governance (ESG) goals.
Social Impact and Challenges Ahead
The ripple effects of increased female leadership are becoming apparent.
- In Northern Nigeria, where historically only 12% of women accessed higher education, organisations like She Leads Africa are reshaping opportunities.
- Since 2016, the initiative has trained 30,688 women entrepreneurs with the help of over 50 certified trainers, in partnership with META.
Despite these advancements, significant challenges remain:
- South Africa, the continent’s most industrialised economy, lags behind, with only 29% of managerial positions held by women (ILO 2022).
- Rural-urban disparities persist. In Burkina Faso, female secondary school enrolment stands at 61% in urban areas, but drops to 22% in rural regions (UNESCO), restricting leadership pipelines outside major cities.
- Access to capital remains a major hurdle. The African Development Bank estimates a US$42 billion financing gap for women-led businesses, limiting their ability to scale.
The Road Ahead
African nations are proving that policy-driven gender inclusion can yield economic and social dividends. However, sustaining these gains will require:
- Greater representation in executive roles beyond HR and finance
- Continued investment in education and mentorship programmes
- Stronger financial support for women-led enterprises
As countries refine their gender policies, Africa has the potential to redefine corporate leadership on the global stage, setting a precedent for other regions to follow.
“Policies must pair with financial infrastructure,” said Vera Songwe, former UN Economic Commission for Africa head. “Without credit, growth plateaus.”
Seth Onyango, bird story agency