Dar es Salaam. A recent report on diversity and gender representation on the board of directors at some of Tanzania’s leading companies listed on the local equity market paints a gloomy picture.
The analysis by PWR Advisory in partnership with Women in Management Africa (Wima) revealed that none of the 28 listed companies at the Dar es Salaam Stock Exchange (DSE) has a female board chairperson, while 25 percent have no female representation on their boards.
The report – titled ‘The 2021 PWR Dar es Salaam Stock Exchange Gender Diversity Scorecard’ – says that women occupy only 21.6 percent of the board representation for the listed companies at the DSE.
Data from the analysis highlights that the banking, finance, and investment sector has 28 women board members out of 116 seats, representing 24 percent. Furthermore, only one bank out of the 28 listed companies at the DSE has a female chief executive officer: Ruth Zaipuna of NMB Bank Plc.
A glimmer of hope on the gender scale was recorded in the commercial services sector that had at least a 30 percent female board representation.
“This was the highest across all sectors followed by the Banks, Finance and Investment sector where 30.7 percent of the companies have at least a 30 percent female board representation,” said the CEO of Wima, Ms Naike Moshi.
Speaking to The Citizen, the President of the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), Mr Paul Koyi, said valuing representation of women in top positions was one of the key things in management, and that was not just because they were women but because they are competent and capable.
“For example, at TCCIA in a group of seven board members that we have, two are women. And these are young women between the age of 25 to 27 who are capable and very efficient in their work,” he said.
Mr Koyi said TCCIA has also hired a female chief executive and majority of managerial positions in regional offices have been attained by women.
The executive director of the Tanzania Gender Network Programme (TGNP), Ms Lilian Liundi, said the organization has recognized the issue of gender balance in the company’s management in Tanzania and that they are currently in the process to develop a strategic plan to address the issue.
“It’s a topic that we have been working on for a while, to find solutions and currently a plan to conduct an extensive analysis to public […]