Africa private capital women: AVCA report shows African investment teams exceed global averages for female leadership and workforce representation

Africa’s private capital investment teams outperform global averages for women in senior roles, according to the African Private Capital Association’s Gender Diversity in African Private Capital Report, released on Wednesday.

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The report, which surveyed 218 private capital investors, 3,099 employees, and 1,972 portfolio companies, provides a first-of-its-kind, Africa-focused analysis of how gender leadership influences investment behaviour and outcomes.

Women account for 38 per cent of investment professionals and 33 per cent of investment committee members in Africa, surpassing global averages of 35 per cent and 12 per cent respectively.

Across African private capital firms, women represent 44 per cent of the workforce and 32 per cent of board members, demonstrating gender representation above the one-third threshold.

However, the data indicates that representation declines as firms grow.

Smaller firms with fewer than five employees report 50 per cent female representation on investment teams, while firms managing over $1bn show just 29 per cent.

Larger firms deploy the most capital, meaning these disparities could influence the flow of funding across the continent.

Women remain under-represented in portfolio company leadership.

Only five per cent of African private capital-backed companies are female-founded, and 11 per cent are led by female chief executives.

Where women do lead, performance is strong: female-founded companies employ 48 per cent women and recorded 50 per cent revenue growth from 2023 to 2024.

Mixed-gender founding teams achieved the highest overall revenue, growing 40 per cent while employing 46 per cent women.

Abi Mustapha-Maduakor, CEO of AVCA, said the report “reveals that Africa has one of the strongest foundations globally for gender diversity in private capital. But representation alone is not enough. We must ensure that diverse leadership translates into equitable access to capital for women founders and executives.”

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AVCA committed to working with industry stakeholders to promote practices, data collection, and accountability that strengthen inclusivity, competitiveness, and resilience across Africa’s investment ecosystem.