Flying with two wings: Africa's opportunity to strengthen economic governance
Africa has an opportunity to strengthen economic governance. Governments are facing a more complex economic reality. Ministries of finance and other economic-sector ministries, central banks, and financial regulators are expected to do more than ever before. One of the most overlooked constraints on institutional performance remains leadership systems that underutilise a significant share of available talent - women leaders.
Globally, women remain underrepresented in senior leadership across public governance and economic policy. Only 11.3% of finance ministers are women. As of 2026, only 35 of 185 central bank governors globally were women, up from 30 in 2025, and 29 as of 2024. Across Africa, women hold 22% of cabinet positions and 7% of top executive roles. Representation in African cabinets varies widely - from 7% in Equatorial Guinea to 60% in Rwanda; and representation in Parliament from 4% in Nigeria to 61% in Rwanda. Only 4 of 41 African central banks have female governors in 2026, with the number of female deputy governors dropping from 18 in 2025 to 16 in 2026. In Ghana, a recently established five-member Fiscal Council is composed entirely of men.
The article proposes a Women in Economic Governance Initiative (WEGI): a platform designed to help institutions convert talent into authority and strengthen leadership systems at the heart of economic policymaking in Africa.
Quick Summary
Across Africa, governments are grappling with complex economic realities - from debt to climate. A new initiative aims to strengthen economic governance by addressing the underrepresentation of women in leadership roles.
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