Tinuola Akinbolagbe Tells Why More Investment Is Needed in Women-Driven Initiatives

As the International Women’s Month draws to a close, experts believe more investment is needed in initiatives led by women to drive inclusion. Dr. Tinuola Akinbolagbe, MD/CEO of Private Sector Health Alliance for Nigeria (PSHAN), shared insights in an exclusive interview with CNBC Africa on International Women’s Day, March 8, 2024, discussing the importance of women’s inclusion and the imperative to bolster investment in women-centric endeavours.

Addressing the theme of the 2024 International Women’s Day, “Invest in Women: Inspire Inclusion, Accelerate Progress,” Dr. Tinuola stressed the importance of acknowledging women’s contributions and reassessing their roles across various spheres of life. She highlighted the impact that women in workplaces and in the communitieshave on the economy. “From the women in our workplaces to those in our communities, including our mothers and those we see on the streets, their impact on the economy is undeniable,” Dr. Akinbolagbenoted.

Despite the progress made in recent years, gender inequality remains a significant issue in Africa, and across the globe. Women continue to face barriers to entry, advancement, and equal pay. According to the International Labour Organisation, women in Sub-Saharan Africa are more likely to be employed in vulnerable and informal sectors, where they have limited access to decent work and social protections. Studies have also shown that increasing women’s participation in the labour market can significantly boost GDP. For instance, McKinsey Global Institute estimates that advancing gender equality could add $12 trillion to global GDP by 2025.

Highlighting the challenges faced by women, particularly in the health sector, Dr. Tinuola said: “In healthcare, where women often serve as primary caregivers, addressing disparities in access and empowerment is critical. By prioritising primary healthcare and ensuring equitable access, we empower women to address health issues at the grassroot level, preventing complications and promoting overall well-being. I believe it’s time to harness the full potential of women and drive meaningful change across all sectors.”

In developing countries, empowering women economically have a profound impact on poverty reduction and overall economic development. The World Bank reports that closing the gender gap in employment could increase GDP per capita by 20% in Sub-Saharan Africa.

Meanwhile, gender-based discrimination and stereotypes persist in African workplaces, hindering women’s career advancement and leadership opportunities. Women’s equal participation and leadership in political and public life are essential to achieving the Sustainable Development Goals by 2030. However, data show that women are underrepresented at all levels of decision-making globally.

Commenting on the progress towards gender equality, Dr. Akinbolagbeexpressed concerns about Nigeria’s advancement in achieving gender equality and the Sustainable Development Goals (SDGs), notably SDG 5 – Gender Equality and SDG 3 – Good Health and Well-Being.She highlighted the stark reality of underrepresentation of women in positions of authority across various sectors, noting that there is a significant gap between the proportion of women in the population and their representation in leadership roles. “I acknowledge the recent developments in healthcare, particularly with the mandating of health insurance. Although achieving universal health coverage (UHC) by 2030 seems unlikely at the current pace, I believe that with bold action and decisive measures, there’s still hope that we can turn the tide and make UHC a reality for all.”

Both the public and private sectors play crucial roles in driving inclusion and advancing gender equality. Governments have a responsibility to enact policies and regulations that promote equal opportunities and protect women’s rights in the workplace. Whilst many African governments have made commitments to gender equality and women’s empowerment through initiatives such as National Gender Policies and Action Plans, implementation remains a challenge, with a need for greater accountability and enforcement mechanisms.

Strategic collaboration between the public and private sectors is essential for driving meaningful change and achieving gender equality goals. With public-private partnerships, governments can leverage private sector resources, expertise, and networks to implement sustainable solutions that address systemic barriers to inclusion.