This Women’s Month, Old Mutual commemorates and uplifts women’s diverse strengths, aligning with the Department of Women, Youth, and Persons with Disabilities’ theme of ‘Building resilient economies for all’.

A range of recent research data by the World Bank Group has provided plenty of evidence that gender equality is a fundamental driver of social and economic progress. Empowered women contribute not only to making the world better, fairer and more just, they also help foster a resilient culture of respect and inclusion. 

There is a widely recognised consensus that workplace change in Africa and globally often starts at the top, particularly at  board level. Today, the business world acknowledges women’s significant potential to drive substantial positive transformations and advancements. 

At Old Mutual Retail Mass Market, an impressive 81% of the senior leadership comprises women. This strategic move aims to cultivate a more diverse top leadership cadre, fostering an environment conducive to elevating customer satisfaction levels and various key performance indicators. 

This commitment to diversity and inclusivity not only reflects a progressive stance but also underscores the organisation’s proactive approach towards achieving higher operational excellence and customer-centric outcomes.

“There’s no doubt that women in leadership boost workplace wellbeing and overall business growth. We believe that an effective way of building a brighter, more secure financial future for all our customers and communities across the African continent is to champion equal opportunities and invest in the skills of our women leaders,” says Reabetswe Mosala, General Manager, Old Mutual Retail Mass Market Alternative Distribution.

“Old Mutual is proud to be a driver and influencer of women in leadership at senior and grassroots level,” she adds. 

She urges all sectors across the country to take meaningful, intentional steps such as:

• Adopt zero tolerance for Gender Based Violence (GBV). Stand against all forms of physical, sexual and emotional abuse directed at women and children. 

• Advocate for strict policies against workplace harassment and discrimination. This entails providing support systems, resources and psychological counselling for vulnerable women.

• Enable a healthy work-life balance for all employees and fully acknowledge and facilitate the health and performance benefits of leisure time as well as the societal value of paid care work (i.e., family responsibilities).
• Support women entrepreneurs in need of access to financing, education, skills training, career mentoring or financial backing.

• Ensure all employees feel valued and heard. Diversity in leadership teams help reflect the rights, perspectives and experiences of all individuals.

• Create and encourage mentorship and networking initiatives. Ensure your organisation visibly cares about its people, customers and communities.

• Elevate financial inclusion as a critical instrument for women’s economic empowerment. For us, true financial inclusion must therefore be understood as a structural intervention to redistribute opportunity, autonomy, and economic agency to women.

Why is actioning these steps so important for Africa’s economies?

According to the United Nations¹, increased inclusion and gender equality will boost at least six of the Agenda 2030 Sustainable Development Goals (SDGs), including eradicating poverty and hunger, promoting good health and wellbeing, and generating economic growth and more employment opportunities.

We need women at the forefront of the African market because traditional trade models, dominated by male centred networks and structures have proven insufficient in confronting the paradox of a wealthy Africa that is inhabited by poor Africans. Research evidence has consistently shown that economies with higher levels of women’s participation in trade enjoy greater resilience, innovation, and sustainable growth.

We also know that women-led businesses tend to prioritise societal wellbeing over pure profit maximisation. They invest heavily in their communities and display superior crisis management capabilities that are essential for building resilient economies for all. Women in trade, therefore, represent a strategic capability for creating robust and adaptive economies that serve all citizens in an increasingly unequal world.

The national dialogue in the advocacy for women empowerment and inclusion is one that should not only be amplified during Women’s Month, but it should also be a conversation that requires transformative action in realising the power of women in leadership towards building resilient economies.

“At Old Mutual we dedicate this month to pause and reflect on the extraordinary resilient women in leadership across South Africa and within Old Mutual. We encourage everyone to challenge the systems and mindsets that still hold women back and to also celebrate the achievements of women in our homes, communities and workplaces,” concludes Mosala.

Source link