Africa Leads World in Women-Led Investment Teams

Africa's private capital industry is setting a global standard for gender equality that puts many Western markets to shame.

A new report from the African Private Capital Association analyzed 218 investment firms across the continent and found women hold 38% of investment professional roles and 33% of investment committee seats. That's more than triple the global average for committee representation, which sits at just 12%.

The study covered over 3,000 employees and nearly 2,000 companies, making it the most comprehensive look at African private capital to date. Women represent 44% of the total workforce and 32% of board members across these firms.

Every level of these organizations exceeds the one-third threshold considered a benchmark for meaningful representation. That puts Africa ahead of Europe, North America, and Asia in creating opportunities for women in finance.

The data reveals an interesting pattern: smaller firms lead the way. Investment teams at companies with fewer than five employees are 50% female, while firms managing over $1 billion drop to just 29% women on investment teams.

That gap matters because larger firms control most of the capital flowing across the continent. As these organizations grow, maintaining diversity becomes crucial for how money reaches entrepreneurs.

The Ripple Effect

When women do lead companies, the results speak volumes. Female-founded businesses in Africa employ 48% women on average and reported 50% revenue growth from 2023 to 2024.

Companies with mixed-gender founding teams performed even stronger, achieving the highest overall revenue levels with 40% growth. The connection between diverse leadership and business performance isn't just correlation. It's creating measurable economic impact.

The challenge remains at the portfolio level. Only 5% of companies backed by African private capital are female-founded, and just 11% have female CEOs. Those numbers show how far the industry still needs to go in directing funding to women entrepreneurs.

AVCA CEO Abi Mustapha-Maduakor emphasized that representation must translate into action. "We must ensure that diverse leadership translates into equitable access to capital for women founders and executives," she said.

The report proves Africa has built one of the strongest foundations globally for gender diversity in private capital. Now the continent is positioned to lead the world in turning that diversity into opportunity, creating a blueprint other regions can follow for building more inclusive and competitive investment ecosystems.