Kenyan Exchange Supports Plan to Boost Female Company Directors

The Nairobi Securities Exchange said it will co-ordinate a series of events in support of an initiative to promote diversity in publicly traded Kenyan companies that average less than one woman per board.

“Several countries are responding to recommendations raised from research on board diversity, including the dimensions of ethnicity, gender, age and profession,” NSE Vice Chairman Bob Karina told reporters today in the capital, Nairobi. The initiative is being promoted by New Faces New Voices Network, an organization established by Nelson Mandela’s widow Graca Machel in 2009.

A survey last year of 57 listed Kenyan companies found that 23 have no women on their boards, according to the NSE. Four of the 54 total female directors hold the position of chairman. Barclays Bank of Kenya Ltd. has the most women directors with five out of 10 board members, according to the survey.

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