All eyes were on the power of women in the financial sector as Johannesburg Stock Exchange (JSE) joined other global stock exchanges in advocating for greater gender equality.
In line with International Women’s Day on 8 March, the stock exchange virtually opened the market as it hosted its 7th annual Ring the Bell for Gender Equality ceremony under the banner, Women in leadership: Achieving an equal future in a Covid-19 world.
The market opening was held in collaboration with Rand Merchant Bank, United Nations Women, United Nations Global Compact, Women in ETFs, World Federation of Exchanges, Sustainable Stock Exchanges and International Finance Corporation.
“Today [8 march] more than 100 [stock] exchanges across the world rang the bell for gender equality in celebration of International Women’s Day. Let us take a moment to reflect on the progress made to date and look ahead at the work that remains to be done,” said JSE Group CEO Leila Fourie.
She added that women, just like most of the country, were greatly impacted by Covid-19 and the lockdown which nears its one-year anniversary. “It is estimated that of the jobs lost during the pandemic, 67 per cent were positions held by women.”
Now more than ever, the private sector needs to rally together, she said. The JSE hopes to continue working to ensure that women are equally represented in the economy and the private sector.
It has to also ensure that these same practices are upheld within its own ranks. This proved apparent when on the same day, the JSE was honoured by United Nations Sustainable Stock Exchanges with the award for the best gender balance of any board in any developing country in the G20.
According to the UN’s Stock Exchanges Gender Equality analysis report, the JSE board of directors has 60 per cent female representation while 66.7 per cent of the executive committee are women.
“We are honoured to be recognised in the Sustainable Stock Exchanges report on gender equality. The JSE remains committed to promoting gender equality at all levels of the organisation.”
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