Global Gender Summit: AfDB’s Hanan Morsy on how to improve economic participation for women in Africa

The issue of economic empowerment for women in Africa is crucial for the continent's future development. Statistics show that only 40% of women in the working-age population are participating in the workforce, highlighting a significant gap in utilizing a valuable asset for economic growth. Hanan Morsy, the Director of Macroeconomics, Forecasting, and Research at the African Development Bank (AfDB), emphasized the need for targeted economic policies to address key barriers that hinder women's economic participation. These barriers include safety concerns around the workplace, access to childcare, and limited access to finance. Morsy emphasized the importance of investing in infrastructure to create safe transportation options for women, implementing legislative measures to address workplace harassment, and providing support for childcare expenses. One of the significant challenges facing women entrepreneurs in Africa is the lack of access to finance. Despite Africa having the highest rate of women entrepreneurship globally, many women-owned businesses struggle to secure funding. Additionally, corruption poses a significant obstacle for women looking to grow their businesses. Morsy highlighted the importance of tackling these issues to unlock the full potential of women-owned businesses and create a positive cycle of increased labor force participation. The conversation around implementing tax incentives to encourage more women to join the workforce raised questions about the feasibility of such measures in contexts where taxes are already perceived as high. Morsy argued that expanding the tax base by increasing women's participation in the labor force would benefit governments in the long run, making tax incentives a viable strategy to boost economic growth and revenue. In order to drive meaningful change in women's economic empowerment, Morsy emphasized the need for collaboration among all stakeholders, including governments, private sector partners, and citizens. By working together to advocate for measures that enhance labor force participation, improve access to finance, and support entrepreneurship, all stakeholders can contribute to creating a more inclusive and prosperous economic environment for women in Africa. The Global Gender Summit in Kigali provided a platform for critical discussions on advancing women's economic participation and empowerment. Morsy's insights underscored the multifaceted nature of the challenges women face in accessing economic opportunities and highlighted the collective responsibility of society to promote gender equality and women's empowerment. By addressing key barriers and fostering a collaborative approach, Africa can unlock its full economic potential by harnessing the talent and entrepreneurship of women across the continent.