The Rwanda Stock Exchange yesterday joined other exchanges across the world in a gender equality campaign which aims to draw attention to the role businesses and markets can play in closing the gender inequality gap.

The campaign comes in the build-up to the International Women’s Day which falls on March 8.

Gender equality continues to be a major concern across the world with experts noting that if the concerns are addressed it would have a great impact on efforts to reduce poverty, and improve education of children and agricultural production and economic growth at the global arena.

A report by McKinsey Global Institute concluded that as much as $28 trillion, or 26 per cent, could be added to the global GDP by 2025 if women participated in the labour force at the same rate as men.

Speaking at an event, yesterday, Rwanda Development Board chief executive officer Claire Akamanzi challenged the private and public sectors to continuously assess how they fair in terms of gender equality and come up with ways to address the gaps.

"We need to know how we are doing in terms of data. According to the Peterson Institute, if you have 30 per cent of women in senior leadership positions in a company you expect to get around six per cent net profit, which is very possible,” she said.

The chief executive of the RSE, Celestin Rwabukumba, said that the firm is keen on playing a part in the attainment of the Sustainable Development Goals (SDGs) among which include promoting gender equality.

"As stock exchanges, we are encouraged to promote gender diversity on the boards and management of listed companies and to ensure accessibility of capital market services to female entrepreneurs to mention but a few,” he said.

Experts say that the gender gap continues to be a critical challenge to economic growth with evidence showing that women continue to earn less, remain vulnerable and accumulate fewer assets in comparison to men.

Fatou Aminata Lo, the UN Women Deputy Representative, said that women continue to be economically vulnerable largely due to the gender gap.

"There is strong evidence showing that women earn less, have fewer assets and are largely concentrated in vulnerable and low-paying activities. Globally, the gap between women and men’s labour force participation is 26 per cent; women on average are paid 24 per cent less than men,” she said.

She said that adjustments ought to be made to increase the number of people able to engage in decent work, to keep the pool inclusive and to realise the benefits that will come to all from an equal world envisaged in the UN’s 2030 Agenda for Sustainable Development.

Stefanus Handoyo, of the International Finance Corporation EAC Corporate Governance Programme, observed that companies with women on board have better profitability, governance and risk management, among other advantages.

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