WECONA’s Mtoba on how to increase women participation in the value chain industry

The Women Economic Assembly (WECONA) was recently formed as a collaborative effort between the private sector, government, and civil society to address the lack of participation of women-owned businesses in core areas of the economy. Despite efforts to promote gender equality and parity in the economy since the UN Beijing conference in 1995, progress has been slow, with women-owned businesses currently only accounting for 1% of public procurement. The African Union's Agenda 2063 calls for this allocation to be at least 25%, highlighting the significant gap that exists. Futhi Mtoba, Convener and Co-Chairperson of WECONA, shared insights on how the assembly plans to drive change. Mtoba emphasized the importance of women's participation in the value chains of industry, aiming for greater representation across various industrial sectors. She highlighted the need for accurate data on women's participation in the value chain to formulate effective strategies for increasing it. WECONA has secured commitments from business leaders to invest more in women and create opportunities for their participation. These commitments are expected to drive capacity building for women, provide opportunities for those ready to engage, and address educational needs from an early age. The assembly's platform brings together various stakeholders to collaborate and address common challenges faced by women-owned businesses. By leveraging the collective strength of the private sector, government, civil society, and women's business associations, WECONA aims to drive meaningful change in the industry. While there are existing organizations focused on women's economic empowerment, WECONA's unique approach lies in its collaborative model, enabling a more comprehensive and coordinated effort to address gender disparities in the value chain industry. As WECONA navigates its early days, the organization's impact will be closely monitored to track the progress and outcomes of its initiatives.