Africa-Press – Tanzania. TANZANIA has managed to close the gender gap in financial services sector at entry and mid-entry administrative roles, according to a recent report released by International Finance Corporation (IFC).
The IFC, a member of the World Bank Group, is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries.
However, stakeholders have pressed for more actions in order to have more women in senior management posts and on corporate boards as the report indicates nlevels were substantially lower, compared to the percentage of men.
Presenting Tanzanian Women in Financial Services: An examination of gender equality in Tanzania’s financial services sector report on Thursday afternoon, IFC’s Programme Officer, Aidah Ssaid of the five companies surveyed, out of a total of about 8,000 employees, 46 per cent were women while at the executive committee and board levels, one third of the members were women.
“However, despite having achieved nearly equal gender balance at the entry and midadministrative levels, the percentage of women in senior management and on corporate boards was substantially lower, compared to the percentage of men,” she added.
She explained that employees in the 12 companies surveyed were optimistic about the potential for women becoming senior managers and leaders in the financial services sector.
According to the report, a large number of respondents (91 per cent of women and 92 per cent of men) indicated that “being a good manager is not related to gender” while 60 per cent of the employees surveyed consider women in senior leadership to be “role models.” While the sector has managed to close the gap at the lower and mid posts, according to the report, only 30 per cent of executive committee and board members were women.
Disaggregating the data, the IFC’s programme officer stated that between 28 per cent and 38 per cent of middle and senior managers were women.
Highlighting factors that draw back women from progressing to highest post that would enable them make decisions in the financial services sector, the respondents quoted by the report stated that one of the biggest barriers to women’s advancement was lack of employer-supported childcare
