, NAIROBI, Kenya, Nov 21 – The Charted Institute of Marketing (CIM) has urged the private sector to create structures that will see more women representation in corporate boards.
Speaking to Capital Business News on Thursday,CIM East Africa Chairman James Ngomeli said the private sector hasn’t done much to increase the number of women on their boards.
Ngomeli said less than 15 percent of companies listed in the Nairobi Securities Exchange have achieved 30 percent of women representation in their boards.
“When women reach a certain level they are unable to go up; we want more representation of women at the board level,” he said.
He said companies should create a conducive environment where women can climb the ladder through mentorship and behavioral training.
“Behavioral training is very important, most of the women don’t have the experience of being board members hence companies should create an enabling environment for them to be at the top,” he said.
He says companies that have achieved the 30 percent representation in East Africa have made 33 percent more profit.
“A diverse Board is more profitable, and we are urging companies to be more diverse in their boards,” he said.
He also urged companies to apply social aspects when doing business pointing out that they play a very big roll in driving organizations.
“Companies should also work at transforming lives even as they try to make profit, as this also creates brand presence and consumers are able to identify with your brand, “he said.
He said the institute will launch 30 percent club initiative in bid to encourage both public and private sector to achieve more meaningful representation of women in the mainstream of civil service and business.