The Billion-Dollar Business Case for Women: Why Companies That Empower Women Make More Money
Akin Monehin
Energy Leader I Entrepreneur I Columnist I Speaker I Shell's Deepwater Business Transformation Manager
“Empowering Women is Bad for Business”: The Lie That’s Costing Companies Billions
In Arochukwu, something radical happened.
Yesterday evening, I was privileged to be a royal guest of His Eminence Dr. Eberechukwu Oji, the Eze Aro of Arochukwu Kingdom Eberechukwu Oji , at a play depicting the reign of his grand father, His Majesty Mazi Kanu Oji CFR CON OBE; a defining era of transformation for the Aro people. My wife and I joined the creme de la creme of the Aro Kingdom, the Igbos, and well-wishers to witness a powerful story unfold. Among those in attendance was Chief Emeka Anyaoku, former Secretary-General of the Commonwealth of Nations.
During that era, the British had introduced education, trade skills, and economic opportunities for women. The impact was immediate: women flourished. They became educated, independent, and self-sufficient.
But the men? They panicked. "Our women are becoming too powerful... too independent ...and now they are lacking in the 'other room,'” they complained to the king.
Their authority was being challenged. The women were happier, more confident, and in the men’s eyes, “harder to control.”
The king had a choice. Side with the men and preserve the status quo? Or embrace change and bet on women.
He chose progress; not just for the women, but for the future of Arochukwu itself. That single decision reshaped an entire generation.
Fast forward to today, and businesses face the same choice. The research is clear: Companies that invest in women make more money, outperform their competitors, and thrive in economic downturns.
Yet, just like in Arochukwu, many Business Leaders fear the change.
Will today’s leaders repeat the mistake of the past?
Some leaders fear that empowering women weakens control. But history and hard data prove that empowering women strengthens economies, companies, and communities.
1. The Hard Data: Why Gender-Diverse Businesses Win
“What gets measured gets managed.” – Peter Drucker
If you’re running a business, you don’t make decisions based on feelings; you make them based on numbers. And the numbers don’t lie:
The Data is Clear:
Case Study: Goldman Sachs & Boardroom Diversity
Key Takeaway: Companies that prioritize gender diversity don’t just "do the right thing"—they outperform, innovate, and dominate their industry.
2. Women Drive Economic Growth; Yet Many Companies Undervalue Them
“You cannot solve an economic problem by ignoring half the population.” – Melinda French Gates
For years, business leaders have underestimated the economic impact of gender inclusion. The truth? It’s a trillion-dollar opportunity hiding in plain sight.
Consider these 2 interesting research outcomes:
Case Study: Rwanda’s Economic Transformation
After the 1994 genocide, Rwanda’s leadership made a bold economic & strategic decision to empower more women. Today, Rwanda has:
Key Takeaway: If businesses and governments ignore female potential, they’re leaving billions on the table.
Companies that invest in women don’t just 'do the right thing'; they make more money, outperform their competitors, and survive economic downturns better.
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3. Women in Leadership Means Crisis-Proof Companies
“The best way to predict the future is to create it.” – Peter Drucker
data shows that when economic crises hit, companies with women in leadership survive better. Why? Because they, somehow, prioritize sustainability, long-term growth, and strategic risk management.
Allow me show you:
Case Study: Apart from USD1b+, What does Aliko Dangote, Olufemi Peter Otedola CON and Tony O. Elumelu, C.F.R have in common?
The trio are known female supporters, being deliberate about building a robust pipeline by employing large female numbers, progressing a large percentage to management & leadership positions and sending many of them to head some of their companies; is there something these billionaires know?
Key Takeaway: In times of crisis, gender-balanced leadership isn’t just a “nice to have”; it’s a competitive advantage and these successful entrepreneurs know it!
Conclusion: The King Made His Choice. What Will You Do Today?
Back to the play, Uda Nkwa which was written & directed by Ikechukwu Erojikwe , His Majesty, the Eze of Aro Kingdom had two options:
Tension built up in the theatre as each side made their submission; where will the His Majesty tilt to?
He didn't even have to think about it. He chose progress. And Arochukwu became stronger.
Today’s CEOs and business leaders face the same choice.
The data is clear.
Companies that invest in women win.
Economies that empower women grow faster and stronger.
Businesses that embrace gender-balanced leadership survive crises better.
So, the question is not, “Should we empower women?”
The real question is: “Can we afford NOT to?”
Time to Engage: Do You Agree/Disagree Passionately, Or You Believe Performance Is Universal? (ie both genders have it equally)?
Let’s be brutally honest here; do companies truly want more women in leadership, or is it just PR?
Decision makers, CEOs, executives, HR leaders, employees, applicants, all and sundry; I want to hear from YOU.
Drop your thoughts below.... you don't have to be great to start but you have to start to be great!
#theakinmonehin #WomenInLeadership #DiversityAndInclusion #BusinessStrategy #EconomicGrowth #CEOInsights #WomenInBusiness
Innovator | Energy Professional | Entrepreneur | Project Manager | Asset Integrity Management Consultant | Real Estate Enthusiast | M.B.A | MEng
2 周Great article Akin Monehin
Project Manager | Strategy Execution | Program Manager | C-Suite Executive Assistant | SDGs
2 周It was a good read. I am intrigued by how you were able to tell a story about the play while conveying an important message.
Thank you Akin Monehin for writing and sharing this insightful article which I completely align with as an Enviropreneur/ESG Advisor. But I disagree that "during that era, the British had introduced education, trade skills, and economic opportunities for women". Did the British really introduce trade skills and economic opportunities to our women in Igboland in particular and Africa in general; as you suggested? I'm asking these questions in the context of the reality of two hard facts of history: 1) The Aba Women Riots of 1929 that shook the British Empire. While we are approaching a century anniversary of this revolutionary acts of Igbo women who confronted the British colonialists for disrupting their entrenched millennia-old economic agency, we can only imagine how sophisticated this economic agency of our women was for them to be able to organize themselves in an era of no mass media technology and communication infrastructure and certainly no social media to be able to pull off their revolt! 2) British women themselves were only allowed equal right to vote as men In 1928, under the Equal Franchise Act. Do these two facts not challenge the notion of some kind economic bandits coming to a distant land to save the people there?
Founder & Creative Director at FC Accessories
3 周Amazing piece, Akin ! It's an uncontestable fact, that women-led businesses or an environment that empower women to thrive experience great development. It was a pleasure to reconnect with you and meet your lovely wife too.
Chief Executive Officer at ND Western Limited
4 周Great article Akin! It was our pleasure, my wife and I to host you and Wunmi to the Uda Nkwa play. I am glad the tough choices Mazi Kanu Oji, Eze Aro (King of Arochukwu Kingdom), my grandfather made in those days particularly with regards to empowering women came through in the drama. CEOs and leaders of today are better equipped with data and research, as you have very eloquently highlighted, to make the decision to empower women and ensure a diverse view whenever critical decisions are to be made. Great article.