PwC MSME Survey 2020

Benefits of women to economic empowerment... Empowering women in the economy and closing gender gaps in the world of work are key to achieving the 2030 Agenda for Sustainable Development and achieving the Sustainable Development Goals, particularly Goal 5, to achieve gender equality, and Goal 8, to promote full and productive employment and decent work for all; also Goal 1 on ending poverty, Goal 2 on food security, Goal 3 on ensuring health and Goal 10 on reducing inequalities. When more women work, economies grow. Women's economic empowerment boosts productivity, increases economic diversification and income equality in addition to other positive development outcomes. For example, increasing the female employment rates in OECD countries to match that of Sweden, could boost GDP by over USUSD6 trillion, recognizing, however, that. growth does not automatically lead to a reduction in gender- based inequality. Conversely, it is estimated that gender gaps cost the economy some 15% of GDP. Increasing women's and girls' educational attainment contributes to women's economic empowerment and more inclusive economic growth. Increased educational attainment accounts for about 50% of the economic growth in OECD countries over the past 50 years. But, for the majority of women, significant gains in education have not translated into better labour market outcomes. Assessment of Nigeria on the World Bank's gender gap index. Nigeria has remained within the 100th and 130th position out of 153 countries, over the last 10 years (2010 - 2019), reflecting low level of gender equality compared to peers. By 2019, the country ranked 128th in the world and 27th in Africa out of 153 countries (and 53 in Africa) surveyed. It is expected that the overall global gender gap will close in 99.5 years. On average, the country has not improved in closing the gender equality gap and has remained within the 60 to 63% score-line for the last decade. Furthermore, the country ranked below peers such as Brazil (69%), India (66%), China (67%) and Mexico (75%). PwC MSME Survey 2020 PwC https://www.unwomen.org/en/what-we-do/economic-empowerment/facts-and-figures#notes June 2020 52

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