Zimbabwe Women Still Behind In Gender Equality In Leadership

By Dr Masimba Mavaza

A recent study by New Faces New Voices, a women’s network under the Graca Machel Trust, has revealed a stark gender disparity in Zimbabwe’s leadership positions. Despite efforts to promote gender equality, women remain significantly underrepresented in senior leadership roles.
Key findings from the 2022-2023 survey:
– Only 18% of Zimbabwe Stock Exchange-listed companies have women as directors.
– Only one of 19 banking institutions has a female managing director.
– Only one of eight deposit-taking micro-finance institutions is headed by a woman.

However, Zimbabwe has made some progress:
– The Reserve Bank of Zimbabwe has a female deputy governor.
– 40% of the sovereign fund’s board members are women.

Olga Denga, chairperson of New Faces New Voices, emphasized the importance of women’s participation in the financial sector for sustainable development and economic growth. Hupenyu Hove, country director, recommended setting inclusion targets, mentorship programs, and gender-responsive policies to increase gender representation.

RBZ deputy director Rachel Mushosho encouraged women in senior positions to support and mentor younger women, stressing that women should empower each other to rise through the ranks.

The study’s findings and recommendations aim to promote gender equality and empower women to take on leadership roles in Zimbabwe’s financial sector.