The list represents the women who run big business in Africa
Africa.com announced the second annual Africa.com Definitive List of Women CEOs on March 8, 2022, in line with International Women’s Day. The list is a unique, data-driven research effort that highlights the women who lead big business in Africa. The data for the effort is provided by Bloomberg.
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In short, the list represents the women who run big business in Africa. All of the women run businesses with revenue of $100 million or more. No other list of successful African businesswomen is grounded in quantifiable research.
Africa.com Chair Teresa Clarke said, “The 2022 list features 74 women. This represents a meaningful expansion over the 50 women who made the 2021 list. This is largely explained by our intentional change in our methodology. In the first year, we used market capitalization of listed companies as the only financial metric by which to qualify companies for consideration. In 2022, we changed the qualification to be either large scale market capitalization or large scale revenue. By making revenue a screening mechanism, we brought in a larger group of companies from across the continent, thereby diversifying the geographic representation of the list significantly.”
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Africa.com is not only reporting on women in corporate Africa, but is also running large scale, free training for African women in the first five years of their corporate careers. Aida Diarra, head of VISA for sub-Saharan Africa, helped to train over 2,000 women with Africa.com in a virtual event. 94% of the participants said that the training was very important to their future success.
A video presentation of the 2022 women on the list, as well as the methodology used to create the Africa.com Definitive List of Women CEOs, are available at this link: Reveal Video of 2022 Definitive List of Women CEOs
Methodology
Group One: CEOs
By making revenue a screening mechanism, we brought in a larger group of companies from across the continent, thereby diversifying the geographic representation of the list
Of the 1364 companies listed on the 24 African stock exchanges, we screened for those companies with revenue of $100 million or more, or a market cap of $150 million or more, which yielded a list of 581 companies. The public websites of these 581 companies were reviewed to identify female C-suite executives. Our team of researchers then examined the list of these women to determine those who have a title of chief executive officer or managing director or president AND have bottom line profit and loss responsibility. This resulted in the final list of 35 women CEOs.
Group Two: Divisional CEOs
The methodology for this group is identical to the methodology for Group 1, except that the entities evaluated were the divisions of the 581 companies, such that the divisions themselves have standalone revenue of $100 million or more, or a market cap of $150 million or more. The women running these divisions must have a title that clearly demonstrates that they are the chief executive with profit and loss responsibility for the division. This analysis yielded 25 women CEOs.
Group Three: Regional CEOs
The methodology for this group started with an analysis of global corporations with revenue over $10 billion who have operations in one or more countries on the African continent. The regional heads of these companies were analyzed to identify women chief executives for an Africa region or an African country, with profit and loss responsibility for the country or region. This analysis yielded 14 women CEOs. Women in this group are ranking by prioritizing those women who run the Africa region ahead of those who run a single African country.
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