School of Business Collaborates with Egyptian Exchange to Improve the Representation of Women on Corporate Boards
The Egyptian Exchange (EGX) and the American University in Cairo (AUC) School of Business signed a Memorandum of Understanding to capitalize on the synergies between them in supporting the Women on Boards Observatory at AUC. EGX will join the Women on Boards Consortium, established by the AUC School of Business in 2014 with the aim of “sensitizing board members to gender issues and qualifying women for corporate board positions as well as advocating for policy and legislative changes to institutionalize gender diversity on corporate boards.”
The consortium also includes the Women in Business Committee of the American Chamber of Commerce in Egypt, the Women and Memory Forum and the Egyptian Corporate Responsibility Center. The purpose of the consortium is to set up the Women on Boards Observatory, a first-of-its-kind in Egypt. The initiative will primarily focus on creating the “Egyptian Board-Ready Women” database and publishing an “Annual Egyptian Women on Boards Monitoring Report”.
“This MoU is another key milestone that confirms EGX’s pioneering efforts in sustainability, with a special focus on promoting gender equality among various capital market participants in Egypt”, declared Chairman of EGX, Mohamed Omran.
AUC School of Business Interim Dean, Nizar Becheikh, is equally pleased by the agreement, affirming that “this initiative complements the AUC School of Business’s vision to develop entrepreneurial and responsible global leaders and professionals as well as its commitment to responsible business — one of the school’s fundamental areas of focus and an imperative vehicle for enabling inclusive and sustainable development and growth.”
According to the agreement, EGX and the AUC School of Business will mutually cooperate in areas that aim at improving the gender balance of corporate boards in Egypt and the MENA region, including capacity building along with professional and management development. Both parties will also exchange regular information detailing gender-specific information about companies listed in EGX.