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NGX emerges first African Exchange to galvanize private sector in closing gender gaps

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Lists Access Bank, Sterling, Lafarge, 12 others on platform

Nigerian Exchange Limited (NGX) has become the first exchange in Africa to galvanise private sector participation in closing gender gaps across employment and entrepreneurship with the launch of the Nigeria2Equal Peer-Learning Platform. It is the first-of-its-kind Gender Gap Assessment Report, themed: Gender Equality in Nigeria’s Private Sector. The virtual launch was held in collaboration with the International Finance Corporation (IFC) on Friday. The NGX also mentioned the 15 companies, which have listed to cooperative with it on the initiative to include: Access Bank Plc., Sterling Bank Plc., Ecobank Transnational Incorporated (ETI), AIICO Insurance, Ardova Plc., Flour Mills of Nigeria Plc., and Lafarge Africa Plc.

Others are Stanbic IBTC Holdings Plc., Airtel Africa Plc., MTN Nigeria Communications Plc., UACN Plc., Cadbury Nigeria Plc., Red Star Plc., Transcorp Hotels Plc., and Union Bank of Nigeria Plc. The companies are said to have made commitments to improve gender equality in the areas of women employment, entrepreneurship and advocacy within their respective companies. According to the NGX, the launch of the Peer-Learning Platform and Gender Gap Assessment Report are key milestones of the collaboration between NGX and IFC for the Nigeria2Equal programme, which was flagged off via a webinar themed: “Gender Implications of COVID-19: Supporting Women as Employees in the New Normal” on Monday, May 25, 2020. The Nigeria2Equal programme is the first multi-stakeholder country project focused on reducing gender gaps in Nigeria’s private sector companies.

The two and half year programme aims to reduce gender gaps in Nigeria’s private sector through research and sharing of best practice case studies as part of a Peer Learning Platform, as well as firm-level advisory support to help companies implement gender action plans.

The Gender Gaps Assessment Report is an independent review of the 30 most capitalised companies listed on NGX’s Premium and Main Boards, using the proprietary Equileap Scorecard ™. The report investigates the extent of gender gaps in Nigeria’s private sector, establishes best practices, or challenges, for closing gender gaps, and provides a basis for participating companies to identify top priority areas to address through the implementation of the Nigeria2Equal programme.

It sets the context for the Nigeria2Equal Peer-Learning Platform by providing market specific data on the evidence for the business case while highlighting priority issues that promote or hinder women’s participation as leaders, employees, and entrepreneurs. Speaking during the virtual launch, Group Managing Director and Chief Executive Officer, NGX Group, Mr. Oscar N. Onyema, OON said: “As the first multi-stakeholder country project focused on reducing gender gaps in Nigeria’s private sector companies, Nigeria2Equal is unique in its design to ensure a quan-titative approach to improving gender equality amongst the participating companies through carefully curated research.

In addition, the programme’s approach to celebrating industry best practices and promoting the application of gender-smart solutions at the firm and sector level are best in class and will be celebrated for years to come”. On his part, the Chief Executive Officer, NGX, Mr. Temi Popoola, CFA, stated, “NGX has gender equality embedded at the core of its working practices and we are excited to become the first exchange in Africa to galvanise private sector participation in closing gender gaps across employment and entrepreneurship.

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