WOMEN STILL UNDERREPRESENTED IN THE FIELD OF ECONOMICS

example, of the 92 Nobel Memorial Prizes awarded in Economic Sciences, only one laureate is a person of colour and only two are women, making up only 2.2% of the total Nobel Prize recipients.

In South Africa, there are even fewer women enrolled in post-graduate studies in economics with about 21% completing a Ph.D. in economics, according to a recent study by Stellenbosch University. Furthermore, the study showed that the average female staff representation in the economics departments was at about 35%, with more than 25% of female economists in senior professional roles such as Chief Economist or Governor of the central bank both in the public and private sectors.

While South Africa has not had a female Minister of Finance, some women are influential in economicrelated positions. At the South African Reserve Bank, Fundi Tshazibana serves as the only female member of the Monetary Policy Committee after Gill Marcus served as Governor for five years. In addition, the current economic advisor to the President and the member of the president’s economic advisory council are both black African women. In business, only seven of the top 100 Johannesburg Stock Exchange listed companies are led by female chief executive officers, with the representation of women CEOs with economics degrees accounting for a mere 3%.

The Women Empowerment and Gender Equality

Bill aims to ensure the progressive realisation of at least 50% representation of women in the decisionmaking roles of society. This is a helpful tool that organisations can leverage to empower more female economists who already conduct impactful research on matters such as monetary policy, poverty and inequality, unemployment, and growth. Women must actively refute the stereotypes that continue to undermine gender parity in many fields, including economics. The participation of women often results in impactful strategies that can shape and steer South Africa and organisations forward.

Piece by Khanyisa Phika, Economist.

Contributors

KHANYA MAGUDULELA

Khanya Magudulela is an HR Director for Hyundai with a wide range of experience in various industries. She has honed her expertise through years of working on Human Resources, Talent Management, and Performance Management to name a few areas - all backed by her BA Honours in Psychology from the University of South Africa. With such qualifications, it’s no surprise that she excels at ensuring effective growth and productivity among organisations around the globe.

PAPAMA MNQANDI

Papama Mnqandi was elected National Chairperson of Black Management Forum’s Young Professionals for the 2021 – 2024 term after serving as Provincial Chairperson of the BMF YP in the Eastern Cape between 2018 and September 2021. An Arts Innovator (AI), writer, thinker and scholar, he has dedicated his term of service to activism in the Creative Economy, Youth Development, and Social Entrepreneurship and in Education which he is supremely passionate about.

MPHO LETHOKO

Mpho Lethoko is a qualified Corporate Affairs specialist. The field of Corporate Affairs wasn’t predestined for Mpho Lethoko, but it quickly became her passion when she began studying at RAU (now UJ). Among the industries she has worked include financial services, professional services, healthcare, and now forestry, pulp, and paper manufacturing.

KHANYISA PHIKA

Khanyisa Phika has over 12 years of economic experience, making her one of the foremost thought leaders in critical decision-making. Her services have been sought after by both corporate and investment communities. As one of the sharpest minds in macro-economics, she’s adept at helping organisations thrive, especially during challenging economic times. Phika also serves as the Chairperson for the Alex Forbes Diversity and Inclusion Forum, where she fosters greater equity and representation.

It’s been ten years since I did my internship with PJC, one of South Africa’s leading green building firms. During my time here, I encountered the four-day working week, which I found fascinating.

Fresh out of university, just short of Simon Sinek’s sought-after bean bags at the office, we were millennial pigs in the mud. I recall that soon after that Unilever sent a team to visit the office and learn about the organisational culture at PJC. We must have been doing something right if Unilever thought it was worth checking out.

To this day, I count my blessings for this transformative space and life-altering experience. The 4-day working week meant that you