BUSINESS

As South Africa and the world looks to rebuild its economy we need to make sure we don’t leave women at the periphery of economic emancipation.

Globally, women are faced with the challenge of being left behind economically. The Covid-19 pandemic and the subsequent lockdowns have ravaged small businesses and certain sectors of the local economy to the extent that the financial freedom of most women is at risk. their livelihoods faster because they are more exposed to hard-hit economic sectors. The report adds, “according to a new analysis commissioned by UN

According to a report compiled by UN Women, titled “from insight to Action, Gender Equality in the wake of Covid-19”, women are losing Women and UNDP, by 2021 around 435 million women and girls will be living on less than $1.90 a day — including 47 million pushed into poverty as a result of COVID-19”.

The concern is that the larger impact of the pandemic will spread beyond just economics, but also hamper women’s access to sexual and reproductive health, as funds in the health care space have shifted to respond to the coronavirus. At the same time “violence against women reports have increased around the world, as widespread stay-at-home orders force women to shelter in place with their abusers, often with tragic consequences,” the report adds.

South Africa is no exception as our economy is also plagued by pressures of the pandemic that continue to see women being left by the wayside of economic emancipation and participation. Small businesses that have often been established and supported by women have borne the brunt of the pandemic.

Remember all those months in the hard Level 5 and 4 Lockdown? Think about all the female employees and entrepreneurs who would typically take care of your hair and nail appointments, spa dates, hotel bookings, take your orders at restaurants and even arrange the décor and refreshments for corporate events?

The tourism and hospitality sector in South Africa typically employs a workforce that is made up of 70% + women. Globally job losses in the tourism sector will likely exceed 100 million jobs and financial losses of approximately $1 trillion according to a policy brief from the United Nations. In South Africa the theme and trends are similar. According to a statement shared by the Deputy Minister of Tourism, Minister Fish Mahlalela “Billions of Rands have been lost in investment and more than 300 000 jobs due to the hard lockdown since the outbreak of Covid-19”.

The reality of these job losses has also been evidenced in the recent unemployment figures published in South Africa. According to Statistics South Africa, the country’s Quarterly Labour Force Survey (QFLS) for the second quarter of 2021, revealed what many had already suspected – that the unemployment rate reached a new all-time high - of 34.4% from 32.6% in the first quarter.

“The rate of unemployment among women was 36,8% in the 2nd quarter of 2021 compared to 32,4% amongst men according to the official definition of unemployment,” Stats SA adds. These figures have also been exacerbated by the on-going theme of retrenchments and jobs cuts in South Africa as businesses struggle to grow their revenues. Further data indicate that women are less likely to find full-time, formal paid employment than men. In 2020, 51% of black women were officially unemployed and had to create work for themselves in the informal sector. Given the slow return to optimal economic performance – this is likely going to continue to exacerbate the current racial, societal and gender inequalities in South Africa.

While several plans have been instituted to provide support and on-going relief to certain sectors of the economy, like the social relief of distress grants of R350 - these are far from enough to sustain households, let alone individuals.

Truth is a lot of work is required of us, from policymakers right down to profit takers on the ground. A deliberate effort needs to be made to deepen investments into female-owned and led organisations. From the hospitality sector that has been hardest hit to offering women in formal employment an equitable reward to their male counterparts in the boardroom.

We as women need to be bolder in pursuing our business efforts and making sure that we empower more women along the journey. Spend, market, support, refer women for business and employment opportunities.