NAIROBI, Kenya, Feb 17-The Nairobi Securities Exchange has joined a global campaign to champion for at least 30 percent representation of women on board levels in listed companies.
By joining the 30 percent club, the NSE will champion for at least 30 percent representation of women on boards and senior management of companies listed on the NSE and within the larger Capital Markets.
NSE Chief Executive Officer Geoffrey Odundo 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.
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.
As a member of the UN Global Compact and the UN Sustainable Stock Exchanges Initiatives, the NSE is keen on supporting listed companies’ leverage on diversity as they seek to enhance their competitive edge.
The 30 percet Club is a global organization started in the UK as a response to the Lord Davies report on gender diversity in the corporate world.
It is an international group of Chairmen, CEOs, senior executives and senior partners of the private sector and state-owned organizations that are publicly committed to achieving and sustaining at least 30percent of women on board.
Focus is also placed on the pipeline development to create sustainable change.
The campaign has expanded its international footprint with a presence in multiple countries/regions around the world.
The initiative is also the first in a series of events to commemorate this year’s International Women’s Day.