Economic Empowerment
Source: Business iAfrica
Results of the 2014 MasterCard Index of Women's Advancement show that gender inequality towards women remains in the workplace, particularly in the areas of leadership and employment.
The overall Index score of 73.5 for 2014 is marginally higher than the outcome of 73.4 in 2013 and 73.3 in 2012. However, a score of 73.5 means South African women are still not equal to men in the workplace, as a score of 100 indicates gender parity.
The Index tracks the progress of women towards gender parity according to three indicators: Employment (workforce participation and regular employment), Capability (secondary and tertiary education), and Leadership (business owners, business leaders and political leaders).
In the area of Employment, South Africa's score of 85 remains unchanged from last year. This score is determined by workforce participation (72.2) and regular employment (105.1). In Capability, South Africa retained its gender parity score of 100, confirming that women have equal access to basic and advanced knowledge assets, compared to men.
However, participation in economic activity remains low, as illustrated by the Leadership indicators. For every 100 male business leaders there are 57.5 women, and for every 100 male business owners there are just 25.5 women. In the seven years that the Index has been conducted, the number of female business owners decreases each year, while the number of their male counterparts increases. The Index also revealed that for every 100 male political leaders, there are 69.7 female leaders.
Credit: 123RF.com
The findings in this Index echo those reported by the 2013 Global Entrepreneurship Monitor for SA Report which shows that the gender gap between male and female entrepreneurs is significant. In 2013, 58% of entrepreneurs in South Africa were men, compared to 42% who were women.
"South African women have equal access to secondary and tertiary education, and regular employment opportunities appear to be more available to women than to men. These factors lay the essential foundations of economic empowerment and financial independence," says Mark Hearne, Acting Division President, MasterCard, South Africa.
"However, it is clear from this year's Index that South Africa still has significant progress to make before it achieves gender equality in the area of Leadership. This is particularly true regarding the development of female business owners and political leaders."
In many countries, cultural norms result in women bearing primary responsibility for childcare and domestic responsibilities, either in addition to their paid work or as an alternative to entering the workforce. As noted in a recent report published by the International Finance Corporation, this means that women's productive and earning potential is not realised, and they are less likely to participate in political and public sector development.
Across the 26 markets in Asia Pacific, South Asia, the Middle East and Africa included in the survey, South Africa ranks third behind New Zealand (77.9) and Australia (76.0). This shows that women's inequality to men in the workplace is a global issue.
"Research indicates that improved gender diversity in the workplace benefits companies operating in emerging markets as much as in developed markets," says Hearne. "Needless to say, as gender equality transforms companies, it benefits countries as well. As we work towards strengthening South Africa's economy, progress towards gender parity in the areas highlighted in the Index should remain an ongoing focus area."