As African economies continue to show promising growth, there is an unsettling contrast that requires urgent attention: the persistent gender disparity in our boardrooms. According to a 2015 study conducted by the African Development Bank, across 307 top-tier African companies, a mere 14% of board seats are held by women. Bringing the lens closer to home, a study specifically examining ‘Gender Diversity in Ghanaian Boardrooms’ reveals that 25% of board directors in the nation are women. This figure is encouraging compared to the broader African average, yet it’s still not enough. While countries like Ghana, Kenya, and South Africa are making strides in this area, others like Côte d’Ivoire and Morocco are trailing behind.
The Lay of the Land: Ghana’s promising yet uneven landscape
On the positive side, Ghana surpasses the global average when it comes to female board representation, boasting a 25% female presence in the boardroom. This aligns well with encouraging trends across multiple sectors such as Advertising & Communications, Fast-Moving Consumer Goods (FMCG), Mining, and Telecommunications. Additionally, there is evidence to suggest that companies with more female Non-Executive Directors (NEDs) are also more likely to have women in key executive roles.
However, the optimism dwindles when we reach the upper management levels, where women are still notably underrepresented. The titles of Chair, CEO, CFO, and COO are overwhelmingly male-dominated, with only a small fraction being women. To add to the concern, over one-third of companies in Ghana have boards with limited female representation—counting zero to one woman among their ranks.
Navigating the Boardroom Maze: A Roadmap for Women Leaders
Given this complex landscape, the question arises: how can women leaders in Ghana strategically navigate through this intricate maze to secure their first board seat? The answer lies in a combination of strategies designed to address this very question with precision and intent. This guide aims to unpack these strategies, offering actionable insights backed by data, for women leaders ready to make their mark in the boardroom.
How to Obtain that first Board Seat
The journey to a board seat can be fraught with obstacles, particularly for women in Ghana. The landscape is evolving, but the presence of women in these high-power roles remains sparse. This article aims to offer in-depth strategies for women who aspire to make that leap, backed by data from 2020, 2021 and 2022 Board Diversity Index of Publicly listed companies. The Gender Diversity in Ghanaian Boardrooms was carried out by the University of Ghana Business School/IFC and the 2015 Inclusive Boardrooms in Africa’s top listed companies research by the African Union (AU) that puts the reality into context.
This is not just about inspiration; it is a tactical guide to help you secure your first board seat.
Strategy 1: Prioritize Sectors with Proven Track Records of Gender Diversity
Understanding the sectoral landscape of board diversity can be a game-changing strategy for women aspiring to get their first board seat in Ghana. According to the 2022 Board Diversity Index, some sectors are noticeably more advanced than others in bridging the gender gap. Specifically, the Consumer Goods and Mining sectors boast an impressive 100% of listed organizations with more than 30% female representation on their boards. In stark contrast, the financial sector lags at 20%, and sectors like Agriculture, Agribusiness, Healthcare, Health Sciences, Education, Manufacturing, Industrial Goods, and Technology have no listed organizations achieving the 30% benchmark.
In light of these statistics, one strategic approach would be to channel your energies toward sectors like Consumer Goods and Mining. These industries not only have a better track record of gender diversity but are also more likely to be open to the idea of women joining their boards. Moreover, these sectors may offer mentorship programs explicitly aimed at women in middle-management roles. Actively participating in industry-specific events like webinars, conferences, and annual summits will offer the dual benefit of enhancing your skill set and extending your professional network, thereby increasing your visibility and opportunities for board positions.
Strategy 2: Elevate Your Public Profile
Merely being competent is often not enough; you need to be visible. Statistics indicate that fewer than 10% of women in senior roles in Ghana make regular appearances in the media. Creating a strong personal brand can set you apart from the competition and draw attention from recruiters and board search committees to elevate your profile, consider these platforms and tools:
LinkedIn: Publish short, data-driven articles related to your field, reflecting your thought leadership.
Twitter: Utilize this platform to share industry news and your own insights, fostering interaction with other industry leaders.
Medium/Blogs: Long-form articles allow for deeper dives into topics, helping to solidify your expertise. Platforms like WordPress or Medium are easy to use.
Podcasting: Join existing podcasts related to your sector or even start your own. Podcasting platforms like Anchor or Podbean make it simple to get started.
Webinars/Seminars: Hosting or participating in these can boost your visibility and offer networking opportunities. Tools like Zoom or Webex can be effective.
Radio/TV consider building networks in the media space to enable you be called upon to speak on topics where you have expertise.
Being active and consistent across these platforms not only increases your visibility but also makes you more appealing to board search committees.
Strategy 3: Aim for Companies with Female Chairs
Listed Companies with female Chairs are typically more gender-diverse, boasting up to 40% more women on their boards. In Ghana, companies like Stanbic Bank Ghana, Old Mutual Ghana and Access Bank Ghana have female Chairs. These companies may be more receptive to adding more women to their boards. Building professional relationships with such organizations can be a stepping stone to your board career. It’s often beneficial to initiate contact with such organizations, offering your skills and expertise in a consultancy or advisory capacity initially. By proving your worth in these roles, you make a stronger case for your eventual promotion to a full board position. You can use the Ghana stock exchange website, the Ghana club 100 website and google to help you find more companies like that.
Strategy 4: Advocate for Transparency
Transparency is an often-overlooked aspect of board nominations, with only about 15% of companies in Ghana having transparent board nomination processes. The lack of transparency often perpetuates a cycle where board seats are filled through insider networks, making it difficult for outsiders, particularly women, to break through. Use your professional influence to advocate for clear and transparent nomination procedures. You can offer your consultation services or provide resource materials that help companies understand and set up a more transparent selection process.
Strategy 5: Champion Diversity & Inclusion (D&I)
Unfortunately, many boards in Ghana lack sufficient understanding of the benefits of diversity and inclusion. Based on self-assessment scores, Ghanaian boards average just a 3.2 out of 10 in D&I knowledge. This represents a gap but also an opportunity. By becoming an advocate for D&I and offering evidence-based arguments backed by research, you can make a strong case for your inclusion on a board. If you have the resources, produce research papers or case studies that highlight the long-term benefits of a diverse board, both ethically and economically.
Strategy 6: Leverage Financial Metrics
Financial metrics can be a compelling aspect of your argument for a board seat. Research has shown that companies in Ghana with at least 30% female board members have a 15% higher rate of financial return. By aligning yourself with groups advocating for more equitable board compositions and leveraging this data, you can make a powerful argument for why diversifying the board is not just the right thing to do; it is also a smart business decision.
Strategy 7: Push for Regulatory Compliance
Shockingly, less than half of Ghanaian companies fully comply with existing corporate governance codes. This lack of compliance often extends to the diversity of board members. Align yourself with government agencies and governance bodies to campaign for stricter regulations. Collaborating with these entities can push for policy changes that make it mandatory for companies to have a more diverse board, thereby increasing your chances of securing a seat.
Strategy 8: Overcome the “Old-Boy Network”
Overcome the “Old-Boy Network” and Build Your Own.
About 60% of board appointments in Ghana come through informal networks. While women-focused professional groups are excellent for building an ‘Old-Girl Network,’ don’t completely ignore the traditional routes. For infiltrating the “Old-Boy Network,” consider the following approaches:
Find Allies: Men who are champions of diversity can help you gain entry into these closed groups.
Joint Ventures: Partnering with firms or consultants who are already in these networks can offer an introduction.
Industry Events: These are the playgrounds of the ‘old boys.’ Attend these diligently, prepare rigorously, and network effectively.
Personal Branding: Establish yourself as a thought leader. Being recognized for your expertise can open doors, even within closed networks.
Strategy 9: Build a Portfolio with Unpaid Volunteer Board Seats in Nonprofit/NGO Space
To be honest most organizations are not interested in bring you unto their board if you do not already have board experience. The nonprofit and NGO sectors provide fertile ground for accumulating board experience, which can be instrumental in securing a corporate board seat later on. According to data, women make up nearly 40% of the board members in Ghanaian nonprofits, a much higher rate compared to the corporate world. Here’s how to go about it:
Choose Wisely: Not all nonprofits are created equal. Focus on organizations where you can offer your unique skills and that align with your career objectives. If you’re in finance, for example, consider nonprofits that are looking to scale their impact and need financial governance.
Start Small: You don’t have to start with well-known organizations. Smaller nonprofits often provide more hands-on experience, which can be invaluable.
Leverage Existing Networks: Use your professional and social networks to find opportunities. Platforms like LinkedIn can be instrumental in this regard.
Be Proactive: Don’t just wait for an opening. Reach out to organizations that interest you and offer your skills. A targeted approach is more effective than a scatter-gun one.
Think Strategically: Some nonprofits collaborate with corporates for CSR initiatives. Joining the board of such a nonprofit could get you closer to corporate leaders, paving the way for future opportunities.
Finding the Right Nonprofits
- Online Directories and Databases: Websites like the GhanaWeb NGO Directory, GuideStar, or even the UN’s Partnerships for SDGs platform can offer a list of NGOs and nonprofits by focus area, region, and other categories.
- LinkedIn: Use the search feature to look for nonprofits by keyword, industry, or location. Often, you can directly find board members and key people you can reach out to for an introduction.
- Local and Regional Events: Conferences, seminars, and other events related to social impact are great places to network and discover organizations that align with your interests.
- Peer Recommendations: Don’t underestimate word-of-mouth. Colleagues and friends involved in nonprofit work can offer valuable insights and recommendations.
- Corporate Connections: If your current or former companies have partnered with nonprofits for CSR activities, they could be a good starting point.
- Industry Publications: Articles and reports on social impact, philanthropy, and nonprofit management often feature organizations doing significant work in their fields.
- Professional Associations: Groups like the Institute of Directors-Ghana (IoD-Ghana) can be useful resources for finding governance opportunities in nonprofits.
- Academic Institutions: Universities and educational organizations often have affiliations with nonprofits and can provide leads.
- Social Media Groups: Online platforms such as Facebook and specialized forums often have groups dedicated to nonprofit governance and leadership where opportunities are posted.
- Consult Existing Board Members: If you already serve on a board or know someone who does, leverage those relationships to identify other reputable organizations seeking board members.
- Local Community Centers: Sometimes the most profound impact starts locally. Your community may have local charities that would welcome your expertise on their board.
Once you’ve identified potential organizations, it’s about strategically reaching out to them and positioning your skills and experience as assets they can’t pass up. Whether you use email, LinkedIn, or a phone call to get in touch, make sure you’re clear about what you can offer and why you’re interested in their mission. Remember, your aim isn’t just to add a line to your CV; it’s to make a meaningful impact.
In conclusion, the climb to a board seat requires careful planning, networking, and the strategic use of data to make your case. For Ghanaian women leaders, the path may be challenging, but it’s far from impossible. Equipped with these targeted, data-driven strategies, you’re not just leaning in; you’re poised to kick the door wide open. Go claim your seat at the table.
Author Bio
Ethel is the CEO and Founder of EDEL Technology Consulting, a leading IT consulting and Digital Products Company, I’ve been recognized as one of the Top 5 Women impacting IT in Africa. Over the past ten years, I’ve become an expert in the technology and entrepreneurship field, gaining invaluable experience as a Mandela Fellow for President Obama’s Young African Leaders initiative (YALI).
I’ve had the privilege of serving on the Advisory Board for Ghana’s Vice President, contributing to the nation’s digital strategy, currently chair the ICT Skills Sector Board, advising Ghana’s Education Ministry on ICT curriculum and is on the boards on Old Mutual, World Reader West Africa and Star Ghana foundation.
