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The Board Diversity Index for 2023, put together by TheBoardroom Africa (TBrA) in collaboration with the Ghana Stock Exchange indicates that Ghana has made remarkable progress in the journey towards gender parity in boardrooms, particularly in companies listed on the Ghana Stock Exchange.

Per the report, the number of women in the boardrooms of Ghana-listed companies increased by an impressive 12 percent, from 67 in 2022 to 75 in 2023.

A statement from TheBoardroom Africa said, in Ghana, where women form nearly half of the workforce, the 12 percent growth rate in the gender parity in boardrooms this year is remarkable and encouraging, but also underscores the ongoing need for unwavering efforts to champion gender equality in leadership roles.

The key highlights of the report provide a comprehensive snapshot of gender diversity in the boardrooms of Ghanaian listed companies, the statement said, adding that women Chairs have a significant impact on boardroom diversity.
"Companies led by women as Chairpersons exhibit significantly higher boardroom diversity, with 80% of them having 30% or more women on their boards, while only 26% of companies with male Chairs reach this threshold," it said.

According to the report, the number of women holding C-suite or Chair positions has increased, as women now account for 14% of Chairs, 12% of CEOs/MDs, 22% of CFOs, and 13% of COOs on Ghana’s listed boards.

However, while the number of Chairs, CFOs, and COOs has increased by 2%, 5%, and 7%, respectively, the number of CEOs/MDs decreased by 1% compared to 2022.
Women Board Directors

Companies with women board directors are also on the rise. A positive trend shows that 89% of listed companies have at least one woman on their board, compared to 88% in the previous year.

Consumer-facing sectors attract more women directors: sectors like advertising & communications, fast-moving consumer goods, and telecommunications stand out, with 100% of their companies having more than 30% women directors.