Women on Boards Observatory Releases 2018 Monitoring Report
In the latest monitoring report, the gap of women on boards in particular sectors was disclosed, with banks leading with 11.4%, followed by listed companies 10.2% and public enterprise companies 8.3%.
The Women on Boards Observatory is recognized as a specialized observatory within the framework of the National Council for Women, advocating for 30% women on boards in Egypt by 2030. The flagship activities of the observatory include the annual Egyptian Women on Boards monitoring report and the Egyptian Board Ready Women database.
The recently released annual monitoring report provides a snapshot of the representation of women on boards in listed companies, Nilex (SMEs), the banking sector and the public enterprise sector in 2018. The report offers an indicator for Women on Boards in Egypt and identifies the gap of women on boards in each sector to reach the target board representation of the 2030 National Strategy for the Empowerment of Egyptian Women.
The 2018 Egypt Women on Boards Observatory monitoring report revealed that 54 qualified women are needed annually to join the boards of banks, listed companies and public enterprise companies in order to reach the 30% target of 2030. In addition, the report highlighted the necessity of more effort to achieve gender diversity on boards, highlighting that 54% of listed companies, 41% of banks and 69% of public enterprise companies have yet to appoint a single board member.
The National Strategy for the Empowerment of Egyptian Women 2030, which adopts a rights-based approach and is grounded in the SDGs and Egypt’s Sustainable Development Strategy 2030, was endorsed by the President in March 2017. The strategy promotes the leadership roles of women and holding key positions in public institutions and companies, setting the target for women in senior management posts by 2030 at 30%.The Ministry of Planning, Monitoring and Administrative Reform, the National Council for Women and The American University in Cairo
School of Business, launched the report on June 10, 2019.
The Women on Boards consortium was initiated by the American University in Cairo School of Business, with support from the United Nations Development Program in 2014. The consortium is a unique partnership bringing together government, business associations, research institutions, international organizations and non-government organizations. The consortium founded the Women on Boards Observatory in 2017.