Accelerating young women’s contribution to Africa’s economic growth

By AMH Voices | Oct. 31, 2024 | 3 Min read

THE untapped potential of young women in Africa’s workforce holds remarkable promise for the continent’s economic future.

A recent report by the Mastercard Foundation and McKinsey and Company revealed that integrating young women into Africa’s economy could add an impressive US$287 billion — equivalent to a 5% GDP increase — and create 23 million jobs by 2030.

This goal requires action, as current contributions from young women remain low; in 2022, their participation accounted for only 11% of Africa’s collective GDP.

Addressing these disparities through employment and skills development across diverse sectors could prove transformative in bridging the gender gap within Africa’s labour market.

Efforts to meet the 2030 target should centre on comprehensive empowerment strategies that address the unique challenges faced by young women.

Crucial to this is education, digital literacy, and access to financial services.

Providing young women with relevant skills and opportunities will unlock their economic potential, positioning them as key contributors to economic growth.

Ensuring that young women have the tools and support they need to succeed can bring about a notable economic impact, both at individual and national levels, reshaping Africa’s labour landscape for a more equitable future.

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Education is a cornerstone for achieving economic empowerment.

Currently, only 26% of girls complete secondary school, and fewer than 8% pursue tertiary education, hindering their access to higher-paying jobs and reducing their economic contributions.

Challenges such as inadequate menstrual health facilities, child marriage and adolescent pregnancy prevent girls from continuing their education, especially in rural areas.

Innovative solutions like mentorship programmes, government incentives and partnerships with non-governmental organisations could help keep young women in school, improving their career prospects and supporting Africa’s broader economic goals.

Balancing family and work responsibilities remains a significant hurdle for young women aspiring to economic independence.

Care responsibilities often prevent them from pursuing employment, a challenge that could be mitigated through community and government support.

The World Bank’s global Invest in Childcare programme, for instance, matches funding to help countries provide childcare solutions, and similar models could be expanded across Africa.

In Nairobi, a programme offering childcare vouchers has already shown success, increasing maternal employment by 8,5%.

Scaling such initiatives would create pathways for millions of young women to join the workforce.

Financial inclusion is another essential component in empowering young women economically.

Currently, women in Africa are less likely to have access to bank accounts, credit, and other financial products than men.

In 2021, 63% of African women were unbanked, compared to 52% of men.

Moreover, women-owned small and medium enterprises often lack adequate funding, resulting in lower revenues compared to those owned by men.

Expanding access to financial services for young women — through partnerships with financial institutions and the development of women-friendly financial products — would provide the financial independence needed to fuel entrepreneurship and strengthen Africa’seconomy.

With a targeted approach that includes education, financial support, and shared childcare responsibilities, young women in Africa can become powerful drivers of economic growth.

Investing in their potential through jobs and entrepreneurship will not only narrow the gender gap but will also stimulate broader economic resilience across the continent.

By 2030, these efforts could transform Africa’s economic landscape, ensuring that young women have an equal role in shaping its future. - Further Afrika