Liberty Two Degrees’ Chief Executive, Amelia Beattie, has been recognised on Africa.com’s 2023 Definitive List of Women CEOs for a third year in a row.
The data-driven list is the only one of its kind in Africa that recognises the women who lead big businesses on the continent – with big business being defined as listed on one of Africa’s stock exchanges and having revenue of over $100 million or a market cap of over $150 million.
Harvard Business Review reports on the startling lack of diversity among CEOs of big business. To be the CEO of a large, listed company in Africa is an extreme rarity for women, which is why recognising them is so important. Research by Harvard Business School faculty recognises one important factor that all of the women who reach the CEO spot have in common: resilience.
“In simple terms, the answer to the question of what it takes [for these women] to succeed can be reduced to a single capacity: resilience. Women we interviewed seemed to rely more heavily than others on that quality, because of the frequency with which they encountered obstacles and setbacks resulting from the intersecting dynamics of race, gender, and other identities,” – Harvard Business Review.
The Africa.com list was compiled over many months through a deep research effort, starting with data provided by Bloomberg on all of the listed companies in Africa. From there, the research team culled the data to meet the required size requirements, and then further determined which of those companies had women at the head. The list also includes women who lead divisions of listed companies, such that the division would qualify for the list were it a standalone entity, and the women who lead the Africa region for globally listed companies, such that the region would qualify for the list were it a standalone entity.
Since listing Liberty Two Degrees (L2D) in December 2016, Beattie has been at the helm. Today, L2D is co-owner in SA’s most iconic shopping centres, namely Sandton City, Nelson Mandela Square, Eastgate Shopping Centre, Liberty Promenade and Liberty Midlands Mall among others across the country.
Beattie’s experience spans over 22 years with a deep passion for property, not only of its investment returns and bricks and mortar, but for the difference that it makes to people and the communities it serves by creating #SpacesForAllToBelong. She is also equally passionate about matters of diversity and women’s equality having spearheaded the concept of #1WomanAtATime in which she encouraged the industry to take stock of the tangible steps forward that can be made to transform our society. Beattie has also driven the transition in the L2D workforce composition of female employees which has grown by 2% in 2022, with 46% of senior management being black female and the Board comprising of 55% female members and 55% black members.
“I am honoured to have been selected as one of the top women leading big business in Africa again. As a business we have taken bold proactive steps in our strategy which is rooted in a commitment to #EmbraceEquity and focus on #1ActionAtATime to drive sustained transformation, inclusive economic participation and ultimately making an impact. Leadership has the responsibility to drive positive outcomes and celebrating the achievements of women is important with the hope that it will further encourage increased representation of women across different sectors. My heartfelt congratulations to all who made the list.”
To mark the evolution of Africa.com’s Definitive List of Women CEOs, Africa.com researched and analysed 2 020 listed companies on Africa’s 24 stock exchanges. The companies were screened for revenue of $100 million or more, or a market cap of $150 million or more, which yielded a list of 787 companies. The public websites of these 787 companies were examined to determine those women who have a title of chief executive officer or managing director or president AND to confirm that these executives have bottom line, profit, and loss responsibility.
This work represents one of the first analyses of the performance of publicly listed companies in Africa conducted through a gender lens. The research will be shared with the world on April 19th at the virtual reveal of the star performers on Africa.com’s 2023 Definitive List of Women CEOs.