Kenya has emerged as the continent’s trailblazer in championing
women’s representation in top management of companies, despite failing
to attain the constitutional one-third gender requirement.
A
report by the Kenya Institute of Management (KIM) and the Nairobi
Securities Exchange (NSE) shows that listed multinationals fared better
than indigenous firms in women representation on boards, at 27 per cent,
against 20 per cent.
The number of women in boards rose to 21 per cent this year, from 18 per cent in 2015 and 12 per cent five years ago.
“The
number of women heading boards remains low, with just five of the 52
(out of 62) listed companies that responded in the survey headed by a
woman, similar to what it was five years ago. We also note that like in
the boardroom, women representation in senior management was a quarter,
meaning that there is one woman for every four men in the senior
management teams,” said KIM chief executive Muriithi Ndegwa.
In
terms of the average representation on boards of women, Africa came
fourth at 13 per cent behind Europe and Australia at 26 per cent and
North America at 20 per cent. The ratio was however higher than South
America at eight per cent and Asia at nine per cent.
NSE
chief executive officer Geoffrey Odundo said that the presence of a
diverse and inclusive organisation is one of the greatest business
catalysts that exist to broaden the talent pipeline, enhance brand and
corporate reputation.
“For diversity and inclusion to
be successful, it must be embedded, supported and exposed to the right
conditions over time. This joint effort requires the commitment of
individuals throughout all levels of the organisation. Allowing firms to
appoint members on a voluntary basis means that they will take on those
whose skills and competencies best fit the positions. Legislation is an
enabler, but it (the appointments) should be more of a voluntary
aspect,” said Mr Odundo.
In
Kenya, women chairs of listed companies are Standard Chartered’s Anne
Mutahi, Isabella Ocholla-Wilson of Unga Limited, Lucy Waithaka of
Eveready East Africa, Catherine Ngahu of Uchumi and Liberty Kenya
Holdings’ Susan Mboya-Kidero.
“We note that women’s
representation as boards chairperson’s positions are also heavily skewed
towards the male gender, with 7.7 per cent being women. Only five
companies out of the 52 had female chairpersons, which compares well
with the global average,” the report’s lead researcher and KIM’s head of
business intelligence and research division Samuel Njihia said.
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