President of the Chartered Institute of Bankers (CIB), Patricia Sappor, has called for an increase in measures aimed at driving gender diversity at all levels of the financial services sector, saying this will lead to more robust decision-making.
Speaking at the Annual Bankers Week Dinner organised by the Institute, Madam Sappor – who is the first woman to hold the position – suggested that more balanced-gender institutions are critical for overall development of the economy.
Urging more women to take up leadership positions, she said: “It is my desire to see many women participate in leadership discussions and take up roles at the senior management level in our various institutions. I encourage my fellow women to be bold and aspire for these positions to champion this agenda to fruition”.
This comes as a gender-diversity study, undertaken by TheBoardroom Africa and the Ghana Stock Exchange (GSE), revealed that women make up only 23 percent of all non-executive directors of boards of publicly-listed companies.
Additionally, women account for 6 percent and 8 percent of Chairpersons and Chief Executive Officers respectively on listed boards.
There is a growing body of literature on the wider economic benefits of increased gender diversity, with one published by the Organisation for Economic Cooperation and Development (OECD) estimating that on average, across the OECD, a 50 percent reduction of the gender gap in labour force participation would lead to an additional gain in GDP of about 6 percent by 2030.
Madam Sappor also implored CEOs and managing directors of banks and non-bank financial institutions (NBFIs) NBFIs to prioritise the recruitment of charted bankers into their companies, saying they have been specially equipped with the requisite skills to drive growth and performance.
She also urged state and financial institutions to continue extended credit and ancillary services to Micro, Small, and Medium-sized Enterprises (MSMEs).
Following the continued awareness campaign and ensuing impact of the Ghana banking code of ethics and business conduct, Madam Sappor asked for a similar awareness-creation campaign for the External Dispute Resolution Office at the Bank of Ghana – arguing that it will further engender confidence in the sector.
“I also believe that creating a lot more awareness of the External Dispute Resolution office’s existence in the Bank of Ghana. It is the office that handles complaints of clients of the banks, and will further help to build confidence in the financial sector.”
The event climaxed the Annual Bankers Week and had as its theme ‘The Digital Economy of Ghana – The Strategic Role of the Banking Industry’. It was attended by the Bank of Ghana Governor, Dr. Ernest Addison, his deputies and members of the banking fraternity.
