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    Nokia launches low cost smartphones for the Kenyan market

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    Kenyan SMEs to benefit from Sh11 billion support from UK’s CDC Group

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    Kenyan PR agency bags international award

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    Nokia launches low cost smartphones for the Kenyan market

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    Exclusive: What it Takes to Lead a Multi billion Sacco in Kenya

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    Moet & Chandon ink partnership with premier restaurant Oysters & More

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    Sarova introduces new brands as it diversifies into standalone restaurants

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    Tatu City Partners with Konza to Attract Investors to Kenya

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    Tatu City partners with Konza to attract investors to Kenya

    Tatu City partners with Konza to attract investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

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    Mizizi Africa Homes voted best low cost housing developer 2020

    Mizizi Africa Homes voted best low cost housing developer 2020

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    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

    32% of Kenyans to change houses over Covid-19

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    Kenyan Firm awarded Most Innovative Community Developer 

    Cytonn Real Estate completes The Alma Phase 3; 120 units set for handover

    Serviced Apartments Record Decline in Rental Yields

    Serviced Apartments Record Decline in Rental Yields

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    Nokia launches low cost smartphones for the Kenyan market

    Nokia launches low cost smartphones for the Kenyan market

    LG unveils premium monitors

    LG unveils premium monitors

    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

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    Samsung Galaxy S21 is now out,pre orders open in Kenya

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    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

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    Defiant: Words such as ‘China virus’, ‘impossible Paris climate deal’ mark Donald Trump’s speech as he bids farewell to USA

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    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    United States: Close Contest as Trump Declares himself Winner

    United States: Close Contest as Trump Declares himself Winner

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    Former MP and Husband involved in Ksh49m graft case

    Former MP and Husband involved in Ksh49m graft case

    Reprieve for counties as treasury release Ksh. 25billion

    Reprieve for counties as treasury release Ksh. 25billion

    Faulu bank partners with 20 counties to support learning in schools

    Faulu bank partners with 20 counties to support learning in schools

    Gov’t now wants youths stop depending on employment and use their talents

    Gov’t now wants youths stop depending on employment and use their talents

    Unreliable KPLC sends KBL on a power making venture

    Unreliable KPLC sends KBL on a power making venture

    Exclusive: What it Takes to Lead a Multi billion Sacco in Kenya

    Exclusive: What it Takes to Lead a Multi billion Sacco in Kenya

    Kenyan PR agency bags international award

    Kenyan PR agency bags international award

    Kenyan Scientists Discover New Coronavirus modification

    Kenyan Scientists Discover New Coronavirus modification

    Israel set to showcase agricultural innovations in Embu

    Israel set to showcase agricultural innovations in Embu

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      Exclusive: What it Takes to Lead a Multi billion Sacco in Kenya

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      6.5 million register new mobile money accounts in 2020 -CBK

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      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

Kenyan Business Feed
  • Home
  • News
    Former MP and Husband involved in Ksh49m graft case

    Former MP and Husband involved in Ksh49m graft case

    Reprieve for counties as treasury release Ksh. 25billion

    Reprieve for counties as treasury release Ksh. 25billion

    Faulu bank partners with 20 counties to support learning in schools

    Faulu bank partners with 20 counties to support learning in schools

    KenGen Plans Direct Selling Of Electricity

    COVID-19: KenGen’s 5-point return-to-work strategy

    Gov’t now wants youths stop depending on employment and use their talents

    Gov’t now wants youths stop depending on employment and use their talents

    Nokia launches low cost smartphones for the Kenyan market

    Nokia launches low cost smartphones for the Kenyan market

    Exclusive: What it Takes to Lead a Multi billion Sacco in Kenya

    Exclusive: What it Takes to Lead a Multi billion Sacco in Kenya

    Kenyan SMEs to benefit from Sh11 billion support from UK’s CDC Group

    Kenyan SMEs to benefit from Sh11 billion support from UK’s CDC Group

    Kenyan PR agency bags international award

    Kenyan PR agency bags international award

  • Markets
    Nokia launches low cost smartphones for the Kenyan market

    Nokia launches low cost smartphones for the Kenyan market

    Exclusive: What it Takes to Lead a Multi billion Sacco in Kenya

    Exclusive: What it Takes to Lead a Multi billion Sacco in Kenya

    Kenyan PR agency bags international award

    Kenyan PR agency bags international award

    Startimes land broadcast rights for Continental showpiece

    Startimes land broadcast rights for Continental showpiece

    Israel set to showcase agricultural innovations in Embu

    Israel set to showcase agricultural innovations in Embu

    Emirates among first airlines to try IATAs’ digital platform for COVID-19

    Emirates among first airlines to try IATAs’ digital platform for COVID-19

    Moet & Chandon ink partnership with premier restaurant Oysters & More

    Moet & Chandon ink partnership with premier restaurant Oysters & More

    Sarova introduces new brands as it diversifies into standalone restaurants

    Sarova introduces new brands as it diversifies into standalone restaurants

    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

  • Real Estate
    Tatu City partners with Konza to attract investors to Kenya

    Tatu City partners with Konza to attract investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    National Bank and Octagon ink 100 billion service partnership

    National Bank and Octagon ink 100 billion service partnership

    Real Estate: Cytonn invites bids for this 4 acre piece of prime land in Kilimani

    Mizizi Africa Homes voted best low cost housing developer 2020

    Mizizi Africa Homes voted best low cost housing developer 2020

    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

    32% of Kenyans to change houses over Covid-19

    32% of Kenyans to change houses over Covid-19

    Kenyan Firm awarded Most Innovative Community Developer 

    Cytonn Real Estate completes The Alma Phase 3; 120 units set for handover

    Serviced Apartments Record Decline in Rental Yields

    Serviced Apartments Record Decline in Rental Yields

  • Tech
    Nokia launches low cost smartphones for the Kenyan market

    Nokia launches low cost smartphones for the Kenyan market

    LG unveils premium monitors

    LG unveils premium monitors

    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

    Samsung Galaxy S21 is now out,pre orders open in Kenya

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    realme C12 and 7i now Available In Kenya

    2021: realme to release more smartphone in Kenya

    Samsung banking on technology personalisation to increase market share

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    Cellulant CEO Ken Njoroge to step down in 2021

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

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    Whatsapp to block users this February following new policy

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  • World Business
    Defiant: Words such as ‘China virus’, ‘impossible Paris climate deal’ mark Donald Trump’s speech as he bids farewell to USA

    Defiant: Words such as ‘China virus’, ‘impossible Paris climate deal’ mark Donald Trump’s speech as he bids farewell to USA

    Twitter CEO finally breaks silence about banning US President Donald Trump from the platform

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

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    Trump threatens to slash US funding to World Health Organization

    A year later, WHO still insists on visiting China to probe virus origin

    F1 superstar to miss Sakhir GP after testing positive for coronavirus – Statement

    F1 superstar to miss Sakhir GP after testing positive for coronavirus – Statement

    Boeing’s 737 Max Cleared to Fly in the US After Crashes

    Boeing’s 737 Max Cleared to Fly in the US After Crashes

    Guinness forced to recall contaminated brand

    Guinness forced to recall contaminated brand

    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    United States: Close Contest as Trump Declares himself Winner

    United States: Close Contest as Trump Declares himself Winner

  • KBF
    • All
    • Agribusiness
    • Banking
    • Insurance
    • Manufacturing
    • Opinion
    Former MP and Husband involved in Ksh49m graft case

    Former MP and Husband involved in Ksh49m graft case

    Reprieve for counties as treasury release Ksh. 25billion

    Reprieve for counties as treasury release Ksh. 25billion

    Faulu bank partners with 20 counties to support learning in schools

    Faulu bank partners with 20 counties to support learning in schools

    Gov’t now wants youths stop depending on employment and use their talents

    Gov’t now wants youths stop depending on employment and use their talents

    Unreliable KPLC sends KBL on a power making venture

    Unreliable KPLC sends KBL on a power making venture

    Exclusive: What it Takes to Lead a Multi billion Sacco in Kenya

    Exclusive: What it Takes to Lead a Multi billion Sacco in Kenya

    Kenyan PR agency bags international award

    Kenyan PR agency bags international award

    Kenyan Scientists Discover New Coronavirus modification

    Kenyan Scientists Discover New Coronavirus modification

    Israel set to showcase agricultural innovations in Embu

    Israel set to showcase agricultural innovations in Embu

    • Agribusiness
    • Banking
      Exclusive: What it Takes to Lead a Multi billion Sacco in Kenya

      Exclusive: What it Takes to Lead a Multi billion Sacco in Kenya

      KCB, MoH and Kazi kwa vijana biggest advertisers in the past 5 months

      Mastercard, Unilever and KCB Bank strengthen partnership to support micro-retailers in Kenya

      ‘Beware of fake currency’, CBK Warns

      Diaspora remittances rose by 11 per cent to Sh341 billion in 2020 – CBK

      6.5 million register new mobile money accounts in 2020 -CBK

      6.5 million register new mobile money accounts in 2020 -CBK

      SIB banks’ foreign investment arm records mild drop in returns

      SIB banks’ foreign investment arm records mild drop in returns

      DTB issues profit warning

      DTB issues profit warning

      How to join, get a loan from Metropolitan Sacco

      Stanbic Bank systems down over Christmas period

      Equity Restructures Ksh92 Billion Loans To cushion Customers Against COVID-19

      Equity Becomes first bank in Eastern and Central Africa to achieve trillion-shilling balance sheet

    • Insurance
      DigiTrust: ICEA Lion Group bets on technology in the rewarding money market field

      DigiTrust: ICEA Lion Group bets on technology in the rewarding money market field

      ICEA Lion Life appoints a new CEO

      ICEA Lion Life appoints a new CEO

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      Exposed: Insurance Company on The Spot for Fruatrating clients

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      Octagon feted in 2020 World Pension Summit Innovation Awards

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      What do you need to know before purchasing car insurance?

      National Bank of Kenya Bags Global Recognition

      National Bank of Kenya Bags Global Recognition

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      DIB Awarded Best Islamic Bank in Kenya

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      20 out of 56 licensed insurers in Kenya fail capital test

      Tom Gitogo offloads his shares in CIC Insurance

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    • Manufacturing
    • Opinion
      KRA Goes After Rich Individuals, Firms Over Sh250 Billion

      Digital Services Tax a desperate move caused by bad governance

      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

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      How Citizen TV Became The Most Watched in Kenya

      This is the new Safaricom logo

      Fail or win? Mixed Reactions over Safaricom’s new logo

      After fuliza, Safaricom introduces another way to borrow money

      OPINION: Why Safaricom’s Fuliza is a rip off!

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

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      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

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MUHINDI: More women in management no longer tokenism for firms

by Kenyan Business Feed
May 19, 2019
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Ideas & Debate

More women in management no longer tokenism for firms

Sunday, May 19, 2019 21:00


By REUBEN MUHINDI |

gender balance
Countries are turning to legislation on gender equality as moral persuasion can no longer be relied upon. FILE PHOTO | NMG 

Recently there was an interesting chat in a WhatsApp group of 32 young professionals. These are some good friends who were former classmates at Strathmore University. Dispersed across five countries, they are concentrated in the finance industry working in banking, audit, deal advisory, real estate, asset management, insurance, transfer pricing, development finance, energy investing and private equity.

Being peers, many topics fly in this group: careers, relationships, politics, science, religion, weddings, and of course memes.

On this day there was a topic of interest: Why are women overly under-represented on boards and in senior management?

For Kenyan firms, the situation is so appalling. Take one tier 1 bank that has 18 directors on its website and only two are women, for example. Not even the company secretary role, which many companies use for tokenism. While other tier 1 banks are not as glaring, it’s nothing close to party. This was a topic of common interest for discussion – for women and men alike.

A 2017 McKinsey study, “Delivering through diversity”, using data from more than 1,000 companies showed that those in the top quartile for gender diversity on their executive teams had a 21 per cent likelihood of outperforming their fourth-quartile industry peers on profitability. Similarly, the most ethnically diverse executive teams were 33 per cent more likely to outperform their peers on profitability.

Having more women on boards and in management is no longer a nice-to-have; it’s an economic imperative for businesses keen to improve financial performance by embracing inclusion.

While the positive correlation from these industry studies may not necessarily imply causality, there are many channels through which an inclusive leadership team enhances performance: better decision making from diverse perspectives, improved employee satisfaction, retaining female talent, and enhanced company image.

For these young professionals, there is an urgent need for bold and practical steps to achieve gender diversity at the corporate level.

In the midst of the ideas and discussions, consensus emerged on two manager-led initiatives: flexible working practices and management-led sponsor initiatives.

Many companies are seeing more women at entry level but it becomes harder and harder to get into the C-suite because of family commitments. Frank referred to cases where women are denied promotions after coming out of maternity leave because “they were not there when all the money was being made.” This is not uncommon across many professional services firms.

For Ivy she considers it fortunate that her employer, an impact investment fund, has created flexible system to support working mothers, including the flexibility to work at home on occasions.

Instead of seeing more of such initiatives, some companies are adding layers of timesheets and digital sign-ins on top of demanding face-time, even for industries where face-time is least wanted.

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While this is no one flexibility model that can work for all companies, there is no doubt that companies need to get creative around flexible working practices if they are to attract and retain top female talent.

Some common practices that companies can try out include flexitime (employees have set weekly hours but can customise their schedule), schedule control (focus is on the deliverable and employees determine their schedules) and teleworking (the flexibility to work remotely while using tech to stay in touch).

For companies to embrace flexibility, practical implementation requires a strategic approach and proper transition. Even more importantly is a threshold of willingness, courage and open-mindedness by the management team, given that the economic benefits of enabling inclusion are not in question. Beyond flexible work schedules, mentorship and sponsorship have proved effective tools for women’s advancement in male-dominated fields. Simply put, mentors offer guidance and advice while sponsors create visibility and opportunity. To see more women (and men too) advance in their careers, managers at all levels need to boldly take up the role of sponsors.

Take Anne, for example. She is a forex trader and corporate dealer. Within banks, this is a role mostly occupied by men and there are industry undertones that women – and especially young women like her – are not most suitable for these high-risk roles.

Her journey is, however, one of career sponsorship. She noted that early on on her job, her direct bosses (all men) were supportive and brought her to the trading table with them. They went beyond mentorship and created space for her in a male-dominated industry.

Sponsorship takes many forms. It could be a manager taking with them younger colleagues to high-level meetings, entrusting junior team members with client presentations, a manager offering access to career networks that would otherwise not be accessible, or giving personal recommendations for young professionals applying to graduate school.

Samira, however, points outs that young women need to watch out for predatory managers posing as sponsors yet they are only interested in being “sponsors”. Sponsorship needs to be kept professional.

The Kenyan business landscape is still far from achieving gender parity despite the potential benefits that could be unlocked. According to IMF global estimates, closing the gender gap could increase GDP by an average of 35 per cent. While most of these is due to increased labour force participation, up to 20 per cent of these gains could come from the effect of gender diversity on productivity.

Increasingly, countries are turning to legislation on gender equality as moral persuasion can no longer be relied upon.

A good example is France’s recent laws that include obligations for firms to publish pay gap indicators and to provide catch–up measures where inequality exists, with penalties for non-compliance.

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Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]

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