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WIMA urges for Board Gender Diversity in Tanzania

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Women in management Africa ( WIMA) in partnership with PWR Advisory – an Africa focused leadership, diversity and inclusion consulting firm -is pleased to release the Gender Diversity scorecard Edition 1 which analyses the level of female representation on the boards of the 28 companies listed on the Dar es Salaam Stock Exchange (DSE).

Speaking about this, The Founder and CEO of Women In Management Africa (WIMA), Ms. Naike Moshi said, “The 2021 Gender scorecard reports that females in Tanzania occupies only 21.6% of the Board presentation in the listed companies to date.”

More needs to be done to accelerate board gender diversity and unlock untapped value for companies and society at large. We believe, if everyone takes charge with concerted multi-stakeholder effort over the next 12 months, the participation of women on boards in Tanzania can increase significantly.

She added, “The report shows that 28,6% of the companies have at least 30% female representation on their boards.” According to research, minorities start to have impact at a 30% representation threshold.  1 company (3.6%) is led by a female CEO. None of the 28 listed companies has a female board chair.  25% of listed companies do not have any female representation on their boards.

It also highlights that, 40% of companies in the Commercial Services sector have at least a 30% female board representation. This was the highest across all sectors followed by the Banks, Finance and Investment sector where 30.7% of the companies have at least a 30% female board representation.

The only company with a female CEO is in the Banks, Finance and Investment sector. The Oil and Gas sector is the only sector that has no female board representation at all. However, there is only one company in this sector listed on the Dar es salaam Stock exchange. The Industrial and Allied sector has the highest number of companies with a 0% female board representation”, she ended.

Businesses and communities in Tanzania and across the African continent in general will reap significant economic return by fully unleashing the full potential of half the population. Corporate boards as custodians of economic prosperity have a key role to play in achieving this. According to Ivana Osagie – Founder and CEO of PWR Advisory, “In the increasingly complex and volatile business environment with exponential levels of risk that companies operate in today, there is safety in diversity. It is a valid risk mitigation strategy. Furthermore, our world is crying out for more inclusiveness. Inclusive leadership can be the gamechanger for bridging gaps and achieving inclusive growth in our economies. It’s a win-win for all.”

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