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Enacy Mapakame Business Reporter
The representation of women in financial services in Zimbabwe remains low, especially in leadership positions, a trend that is also prevalent in many other sectors of the economy.
For example, out of the 50 Zimbabwe Stock Exchange (ZSE) listed companies, only 18 percent have women as directors while board representation for females in financial institutions stands at 2,8 percent.
Of the 19 banking institutions, only one has a female managing director, Nedbank Zimbabwe, which is headed by Dr Sibongile Moyo.
Out of the eight deposit-taking microfinance institutions in the country, only one is headed by a woman; the Zimbabwe Women’s Microfinance Bank, which has Dr Mandas Marikanda as its chief executive officer.
“These stats undoubtedly highlight the need for more women at senior levels of leadership in the financial markets,” said EcoCash Holdings talent development manager Michel Mzondo at the Women in Financial Markets conference hosted by the Financial Markets Indaba (FMI).
She added there was need to start at the grassroots level educating girls about financial markets and career options available in the sector.
Ms Mzondo applauded one of the programmes co-hosted by our sister publication Business Weekly in conjunction with FMI, known as Capital Markets High School Quiz Competition, which affords students an ample opportunity to learn about capital markets. The first position in the inaugural competition held last year was scooped by Dominican Convent Bulawayo.
Nedbank managing director Dr Sibongile Moyo highlighted the need to create an enabling environment that fosters gender diversity in the workplaces as the current setup shows fewer women at executive levels especially in the banking sector.
Gender diversity and inclusion should cut across all levels including senior management and board level, she said
While she encouraged women to take up leadership roles, Dr Moyo also emphasized that there is no room for mediocrity in leadership.
“Possess a good track record, even in your academics. Add your voice to strategic tough conversations in your organisation, unleash your potential and never undermine the other women around you,” she said.
The FMI conference was held in the capital with the aim of offering professional development sessions, practice management discussions and numerous networking opportunities.
FMI representative Joyce Makwarimba said the conference also aimed to provide female associates an opportunity to cultivate and deepen relationships with leadership and with female colleagues across Zimbabwe’s financial and capital markets sectors.
“This event is a forum for sharing ideas and conducting meaningful conversations that will help deliver greater diversity within the industry.
“FMI has the aim of convening corporate leaders, industry experts and a team of analysts to explore sector and market trends and identify significant opportunities that drive change,” she said.
FMI is a unit of Emergent Capital Management that is licensed and regulated by the Securities and Exchange Commission of Zimbabwe.
FMI is a series of interactive investment-related forums and conferences convened in Johannesburg, London, Harare and virtually and has hosted more than 50 investor events in the last seven years as well as webinar events.
Its aim is to mobilise investment through convening diaspora, leading global institutional investors, corporate leaders, industry experts and its team of analysts to explore sector and market trends and identify significant investment opportunities.
Online Reporter