Several bodies, including the Women in Banking and Finance Magazine has recently added its voice to the call for the passage of the Affirmative Action Bill, saying it will further boost women’s contribution to the growth of the country’s economy.
The call came during the Women in Banking Seminar organised by the Women in Banking and Finance Magazine in Accra to highlight the role women play in the banking and finance industry.
The second of the series which was held in commemoration of this year’s International Women’s Day, also aims to create a platform for women in the sector to share experiences and challenges in the space.
Speaking at the event, Joshua Obuam, Managing Editor for the magazine indicated that the passage of the bill will ensure the sustainability of women’s impact on the banking sector and the economy as a whole.
“We believe the component of statutory or mandatory quotas for corporate or working women on boards and in institutional management circles is appropriate and would most certainly spur the rise of more women in leadership roles in the baking and finance sector.”
According to him, women in finance continue to impact the economy by helping to strengthen the financial sector through sound and ethical leadership in their various roles, and through being at the forefront of their institutions’ CSR activities which lessen the burden on government to provide social protection to the citizenry.
He further noted that, women’s presence in certain roles in their institutions have been found to impact SMEs by helping to advance credit to women in the SMEs sector, as well as facilitating mentorship for upcoming industry players.
Like most activists of the passage of the bill, Mr. Obuam stressed that the Affirmative Action Bill is the major solution, and presents itselfs as the only solution to all forms of discrimination on the basis of gender and an effective measure of enhancing development.
The Affirmative Action Bill seeks equal representation and participation of both women and men in governance, public positions of power and all decision-making spaces of the country.
The bill mandates public institutions to adopt gender policies, including recruitment policies aimed at achieving balanced structuring of those institutions in terms of gender.
It also requires that all sectors to reserve a percentage of their employment for women. All political parties are also encouraged to create quotas to promote women participation in politics.
Ghana ranks 141st in the world in terms of women’s representation in Parliament, with only thirty-eight (38) women out of the two hundred and seventy-five (275) Members of Parliament.