Youth, Women Are Underreported In Africa’s Business Sector – Report

Posted by Eric Ojo African News, Business News, Latest Headlines Saturday, March 26th, 2022

(AFRICAN EXAMINER) – Youth and women are underrepresented in business coverage in Africa, according to newly launched The Business in Africa Narrative Report by Africa No Filter and AKAS in partnership with the African Union (AU).

The report is the latest research project by narrative-change organisation Africa No Filter and forms part of their work to understand and shift harmful and stereotypical narratives about Africa.

Africa No Filter is a donor-collaborative shifting stereotypical and harmful narratives within and about Africa through research, grant-making, community building and advocacy by supporting storytellers, investing in media platforms, and driving disruption campaigns.

Similarly, AKAS is an award-winning international audience strategy consultancy founded in 2012, delivering impact, audience, corporate, narrative and communication strategies to a wide range of purpose-led organisations.

The AU is a continental body consisting of the 55 member states that make up the countries of the African Continent. It was officially launched in 2002 as a successor to the Organisation of African Unity (OAU).

The report noted that in spite of the fact that Africa has the youngest population globally, youth and women are underrepresented in business stories, adding that online news coverage of young people has declined between 2017 and 2021.

“African countries claim the top three spots in the Mastercard Index for the highest concentration of women business owners globally, but business news and analysis on gender equality issues have declined.

“In addition, stories about African youth globally are often framed through negative stereotypes, invoking images of inactivity, violence, and crime”, the report stated.

The report which was launched in Addis Ababa also revealed that although the African Continental Free Trade Area (AfCFTA), the largest free trade area in the world by the number of participating countries and access to a combined Gross Domestic Product (GDP) of $3.4 trillion, yet it makes up under 1 percent of business news and analysis about Africa.

It equally shows that the keywords, stories, frames, and narratives associated with business on the continent are dangerously distorted. There is an overemphasis on the role of governments, foreign powers, and larger African states alongside an underappreciation of the role of young people, women, entrepreneurs, creative businesses, smaller successful African states, and Africa’s future potential.

In addition to the missing stories about the AfCTA, the report highlighted a number of other key frames dominating dangerous distortions played out in stories, and the underrepresentation of businesses across the continent. Notably, the report launch coincides with the fourth year of the AfCFTA.

It was compiled using eight research approaches to analyse the frames, including big data analysis, sentiment analysis, trends analysis, content analysis, linking analysis, literature reviews, primary surveys, secondary surveys analysis, indices investigation, and social media analysis.

The adoption of these approaches saw the analysis of 750 million stories published between 2017 and 2021 on more than 6,000 African news sites and 183,000 sites outside the continent.

The report observed that 54 percent of business news in 2021 was framed through government action and policies, adding that African media focused more on themes related to government than on those related to entrepreneurship. “Yet, African countries make up six of the top 10 countries whose populations were most likely to search for the topic of entrepreneurship in 2021”, it added.

It also disclosed that nearly 50 percent of articles in global media outlets reference South Africa or Nigeria, crowding out business stars like Mauritius, Namibia, and the Seychelles. Mauritius, according to the report, is the highest-ranking African country in the World Economic Forum’s Global Competitiveness Index.

“There is another scramble for Africa according to international media, but this time it is about who can best profit from the continent’s business opportunities.

And the charge is being led by foreign powers, with 70 percent of coverage about business in Africa referencing China, the USA, Russia, France, and the UK.

“International media are more likely to have a negative tone. African media are twice as likely to reference corruption in their coverage of business in Africa compared to international media, with corruption featuring in 10 percent of African media stories”, the report added.

Executive Director at Africa No Filter, Moky Makura said they wanted to understand why Africa is seen as a high-risk business destination and why the cost of money is at a premium, adding that the report gives them an insight into why.

“It shows that business opportunities on the continent are both underrepresented and misrepresented, and now that we know this, we can work on educating the media and changing the narrative around business in Africa”, he explained.

Director of Information and Communication for the AU, Leslie Richer described it as a ground-breaking report that is coming at a crucial time for the continent as it recovers from the economic impact of COVID-19.

“Experts predict that Africa needs an estimated $175 billion per year for 20 years to end extreme poverty, and narratives about business and the AfCFTA will play a critical role as it signals that Africa is open for business”, she stressed.

Similarly, report author and co-founder of AKAS, Richard Addy said: “This ground-breaking report offers a detailed data analysis and rigorous research into the narratives, frames, and stories are the lenses through which we perceive and experience Africa. Evidence shows that the narratives talked about in media, international institutions, think tanks, and consultants have a demonstrable effect on performance in stock markets and on capital”.