Standard Bank changes the narrative on gender equity in Africa

Standard Bank is therefore not standing still in its drive for change and in line with the many initiatives already being promoted to support women across Africa, the bank today joins the powerful global UN platform, HeForShe.

Standard Bank will harness its strength as the largest bank by assets in Africa to enhance gender diversity more broadly across the continent we call home.

On behalf of Standard Bank Group, Chief Executive Sim Tshabalala, has become one of the global thematic champions in the HeForShe movement. These leaders have committed to implement game-changing policies and concrete actions towards gender parity.

Mr Tshabalala says more effort is needed to accelerate progress. “We’ve partnered with the UN Women’s HeForShe initiative to help change the narrative on gender equality in Africa,” he says.

Equity is not only a business imperative – it’s your moral duty

In the World Economic Forum’s latest Global Gender Gap report, it is estimated that it will take more than 217 years to achieve workplace equality after gender parity took a step backwards in the past year.

“Achieving gender equity is a moral duty, a business imperative, and just plain common sense. Women embody half the world’s talent, skill and energy - and more than half of its purchasing power. So every sensible business leader must be committed to achieving gender equity in their company and to contributing to gender equity in the societies in which we operate,” says Mr Tshabalala.

Concrete commitments made by Standard Bank Group in order to bring about tangible change include reaching parity in executive positions and to improve the representation of women in executive positions from its current 32% to 40% by 2023. Another is to lift the representation of women on the Board from 22% to 33% by 2021.

Standard Bank is also committed to increasing the representation of women Chief Executives in its Africa Regions network from 10% to 20% by 2021, while Standard Bank South Africa will improve the representation of women in executive positions from the current 35% to 40% by 2021.

Making a tangible difference in the countries in which we operate

As a major employer in Africa, Standard Bank is committed to establishing a diverse workforce and an inclusive working environment.

“Standard Bank intends to make a tangible difference in the countries in which we operate and will continue to contribute to Africa’s growth by investing in the development of women entrepreneurs and is committing to increasing the representation of women in leadership positions in the bank,” says Mr Tshabalala.

We encourage everyone who hasn’t already done so to go to the heforshe.org website and make a commitment to change today – after all, more than a billion people around the world are already standing together in creating a gender equal world. It’s now up to everyone to make sure we move towards a gender equal world.

Find out more about how you can make a difference and support the HeForShe movement at https://www.heforshe.org/en