By Steve Letsike
Often, the conversation about women and the economy is framed around participation – as though women are waiting at the margins for an invitation to enter spaces where economic decisions are made and value is created. But this framing misses a fundamental truth: women are not simply participants in South Africa’s economy; they are among the forces that sustain it.
Every day, women earn incomes, build businesses, create jobs, care for families, support communities and contribute to the productivity of our nation. Much of this contribution is visible in workplaces and boardrooms, while some take place quietly in homes, communities and informal markets, often without the recognition or economic value it deserves.
As South Africa marks Women’s Month and commemorates 70 years since the historic Women’s March of 1956, we are reminded that the women who marched to the Union Buildings demanded more than mere political rights or recognition – they asserted their dignity, agency and rightful place in society. Seven decades later, that legacy lives on in millions of women who continue to shape the country’s social and economic life. Their story is not simply one of participation. It is a story of resilience, productivity and economic power.
That economic power is reflected in the progress women are making across the economy. The latest data from Statistics South Africa show that between 2014 and 2024, the share of female-run businesses operating in the formal sector increased from 20.0% to 21.6%. Over the same period, the representation of women with tertiary qualifications employed in physical, mathematical and engineering fields increased from 22.2% to 29.6%. These shifts demonstrate women’s growing presence as entrepreneurs, skilled professionals and contributors to sectors that drive innovation, productivity and economic growth.
Women’s entrepreneurial contribution is particularly significant. In 2024, 76% of female-run businesses operated in the informal sector. These enterprises provide goods and services, create livelihoods and sustain economic activity in communities across the country. Government is also using public procurement as a lever to expand women’s access to markets, with a target for at least 40% of public procurement spend to go to women-owned businesses. This is more than a commitment to empowerment;
it is an investment in women as producers, employers and contributors to economic growth.
Beyond entrepreneurship, women are helping to shape the skills, knowledge and innovation that will define South Africa’s future economy. Initiatives such as the Women in Technology and Innovation Programme (WISTEM) Thuthuka and the Black Academics Advancement Programme seek to address historical exclusion and strengthen the pipeline of women entering research, science, technology and innovation. Investing in women in Science, Technology, Engineering, and Mathematics (STEM) is therefore not only about correcting past inequalities; it is about expanding South Africa’s pool of talent, ideas and innovation.
This contribution extends across sectors, from technology hubs to farms and agricultural enterprises that help sustain food security. Women contribute to food production, agricultural entrepreneurship, agro-processing and agricultural value chains, generating income and supporting rural economies. Government’s commitment to inclusive agricultural development, including through the Agricultural Policy Action Plan, seeks to expand participation in agricultural value chains and create opportunities for historically marginalised groups. Improving women’s access to land, finance, markets, skills and technology can enable more women to move from subsistence activity into commercially viable enterprises.
But not all of women’s economic contribution can be measured in businesses established, jobs created or income generated. Much of the work that sustains households and communities takes place through unpaid care and household responsibilities. Women continue to carry significant responsibility for raising children, caring for elderly family members and supporting households. Although this work may not come with a salary, it creates the conditions that enable others to work, study and participate productively in the economy. Recognising the value of care is therefore essential to understanding the full extent of women’s economic contribution.
Although we celebrate the great strides women have made and the interventions government has put in place to advance women’s economic empowerment, significant gaps remain in ensuring that women are equally represented where economic decisions are made. Women must increasingly be represented in executive leadership, corporate boards, senior management and economic institutions. This is
not simply about numerical representation; it is about ensuring that women’s perspectives, experiences and expertise help shape South Africa’s economic future.
Seventy years after the women of 1956 marched to the Union Buildings, their legacy lives on in the millions of South African women who build businesses, create jobs, produce food, drive innovation, care for families and shape communities every day. As we mark Women’s Month, we must move beyond viewing women simply as participants in the economy and recognise them as economic actors who create value, sustain livelihoods and shape the country’s future. Women are not just participants in South Africa’s economy – they sustain it, strengthen it and have the power to shape its future.
Steve Letsike, Ms Deputy Minister in the Presidency For Women, Youth and Persons with Disabilities
