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Kenya: Women Rights Lobby Lauds NSE Listing on Global Club 30% as Progressive

Nairobi — Voice for Women and Girls’ Rights-Kenya has termed as progressive and positive the move by Nairobi Securities Exchange (NSE) to join the 30 per cent Club, a global movement accelerating progress towards gender diversity in senior management positions in organizations.

While lauding the move which champions at least 30 per cent representation of women in boards, the organization’s Program’s Director Sammy Muraya told Capital FM on Thursday that his organization will engage with NSE to ensure its full implementation so as to amplify the voice of women in listed companies.

NSE will work ensure that listed companies comply with the move.

“It’s a progressive move, the gender rule is enshrined in the constitution, its actually good to see NSE taking the lead, its time private businesses take the lead ,it’s a positive and big step and its something we must emulate. We are at an age where we are not supposed to discriminate at any gender,” Muraya said.

Muraya said the move will also have a positive impact on women across the business sector to be elevated to top positions for diversity.

“If we have more women in a leadership position, we will have more women rise to high positions, once we have more women in top positions, it means that it will cut across to women and we will see the positivity. Having more women will bring a shift and will see women elevated to the top position,” he added.

He cited societal norms as part of the potential challenges that need to be tackled in offering women a chance in leadership for diversity.

“One of the problems we are going to see is men criticising ladies, we are going to have a situation where men will be looking out for mistakes, pointing out them, and trying to justify why men should lead the business world.”

He, however, urged the government, Kenyans, and business stakeholders to encourage and support women leaders saying they should also be given a chance to showcase their skills.

NSE Chief Executive Officer Geoffrey Odundo, while speaking during the launch on Wednesday, said the move will also lead to other firms joining the narrative where diversity will also improve the performance of the companies.

“This membership will sort of provide encouragement for other firms to follow suit because we see these companies that have diversity, we are seeing a very good co-relation of a good performance of its share price,” said Odundo.

Ogunda signed an MoU alongside Zuhura Ogada, CEO of New Revenue Solutions Africa (NRSA) and Lead at the East Africa chapter of the 30 per cent Club.

New Revenue Solutions Africa Zuhura Odhiambo added that the opportunity also allows other women seated on boards to learn from each other.

“The 30 percent inclusivity ensures that we are having women seated on boards to learn from each other,” said Odhiambo.