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The Board Diversity Index, a new report released by Boardroom Africa, shows that women are still under-represented in the boardrooms of listed companies in Ghana.
The report published in collaboration with the Ghana Stock Exchange (GSE) showed that out of the 37 companies, women hold only 23 percent of board positions and 24 percent of non-executive director positions. .
According to the 2020 Board Diversity Index, the most common position held by 72 percent of women in most of these companies is the position of corporate secretary.
However, these figures represent a three percent increase in board positions held by women and a four percent increase in non-executive director positions held by women from 2019.
The key sectors assessed in the 2020 Board Diversity Index include agriculture and agribusiness, financial services, automotive, advertising and communications, education, energy, consumer goods, and food and beverage. Among these sectors, consumer goods lead with respect to the percentage of companies in the consumer goods sector with more than 30 percent female directors.
However, in terms of the aggregate number of women, the financial services sector outperforms all sectors, as 38 percent of all female directors of companies listed on the GSE are represented in the financial services sector.
The report further revealed that the greater the number of non-executive female directors, the greater the likelihood of women in executive positions. Additionally, companies with 30 percent or more non-executive female directors are six percent more likely to have a female president, eight percent more likely to have a female chief executive officer (CEO) or general manager (MD), and 15 percent more likely to have a female president. have a female director of operations (COO).
Commenting on the methodology, Marcia Ashong, Founder and CEO of The Boardroom Africa said: “The Boardroom Africa has conducted a robust analysis of gender diversity in boardrooms in Ghana and 11 other African states in the last three years. by analyzing the composition of the board through public statements by executives and officers. “
“This year, we are delighted to have the Ghana Stock Exchange as a partner that has a clear understanding of the strong link between gender diversity and good corporate governance,” he said.
Reviewing the importance of the 2020 Board Diversity Index, Abena Amoah, Deputy Managing Director of the Ghana Stock Exchange, said that “good corporate governance helps companies improve performance, drive growth and manage risk. . To be truly effective, a board requires a diversity of skills and perspectives. “
“The Board’s Diversity Index shows that many GSE-listed companies are true champions of gender diversity, but there is still a lot of work to do.”
