World economy ‘could get $7trn boost from closing the gender gap’

Closing the gender gap could give the global economy a $7 trillion boost, board member of UN Global Compact and CEO of Naspers South Africa Phuthi Mahanyele-Dabengwa said on Friday, citing research by UN Women.

Addressing the JSE’s Ring the Bell for Gender Equality event marking International Women’s Day, which is commemorated on 8 March annually, she emphasised the ongoing challenges in achieving gender equality.

Mahanyele-Dabengwa noted that the United Nations’ fifth Sustainable Development Goal of achieving gender equality and empowering all women and girls remains unmet globally, with the 2030 deadline approaching.

She said events like Ring the Bell for Gender Equality put the spotlight on the importance of ensuring that women and girls are equipped with the tools and opportunities to advance in their careers and personal lives.

The JSE – Africa’s biggest stock exchange – is an annual participant in the Ring the Bell for Gender Equality campaign, reinforcing its commitment to an inclusive and equitable economy.

The global initiative, led by the World Federation of Exchanges in collaboration with the International Finance Corporation, the Sustainable Stock Exchanges Initiative, UN Global Compact, and UN Women, highlights the critical role of financial markets in driving gender equality.

This year’s campaign aligns with the International Women’s Day 2025 theme: “For ALL Women and Girls: Rights. Equality. Empowerment,” commemorating the 30th anniversary of the Beijing Declaration and Platform for Action.

Equal access

“At the JSE, we believe that true empowerment stems from equal access, to education, investment opportunities, leadership positions, and financial resources,” said Vuyo Lee, director of marketing and corporate affairs.

“This year’s theme challenges us to remove systemic barriers and amplify the voices of women and girls, ensuring that gender equality becomes embedded in the financial landscape and broader society,” she added.

The JSE has demonstrated its commitment to gender diversity, with women comprising 55% of its board and 78% of its executive committee.

Additionally, its listing requirements mandate that all companies establish policies to promote gender diversity at the board level and report on their progress.

The exchange also drives financial inclusion through initiatives like the #SheInvests campaign, which aims to boost financial literacy and investment participation among women, equipping them with tools for economic independence.

“The path to gender equality requires collective effort,” said Lee.

“The private sector has a crucial role to play in transforming entrenched inequities, and at the JSE, we are committed to fostering a financial ecosystem where women and girls thrive, not as an afterthought, but as a core pillar of sustainable economic growth.”

First published on Money Web and written by Terri-Ann Brouwers