NMB Bank has become the first African financial institution to receive the workplace gender equality certification from the Economic Dividends for Gender Equality (EDGE) Certified Foundation due to its commitment to promoting gender equality in the country.
The bank has made remarkable milestones in gender equality by increasing gender equality ratio from 45 per cent women in 2015 to 49 per cent this year compared to 55 per cent men ratio in 2015 down to 51 per cent men employee ratio in 2022.
In February this year, the bank issued the first ever East African bond targeting gender empowerment called Jasiri Bond that received 74.2bn/- that allows NMB to extend affordable financing for women-owned or women-controlled enterprises and/or businesses whose products or services directly impact a woman.
As of June this year, NMB had provided nearly 1,483 loans worth 35bn/- to women-owned businesses across all regions.
NMB’s Chief Human Resources Officer, Mr Emmanuel Akonaay said, “NMB bank has become Africa’s first financial institution to be awarded the EDGE Certificate in recognition of its commitment to promoting gender equality internally and advancing the noble cause nationally,”
Launched at the World Economic Forum (WEF) in 2011 by the Swiss organization, EDGE is the leading global assessment methodology and business certification standard for evaluating corporate commitment to gender equality.
The workplace gender equality certification was debuted 11 years ago by the EDGE Certified Foundation.
“The history NMB has made today is continental because this is the first time an African financial institution is awarded the EDGE Assess Certification,” he said.
NMB’s gender parity commitment has been measured in terms of policies and practices across five key areas including equal pay for equivalent work, recruitment and promotion; leadership development training and mentoring, flexible working as well as organisational culture.
“This is a monumental achievement we are proud of and worth celebrating,” he noted with EDGE Certified Foundation figures better depicting the commercial benefits, economic potential and pivotal role of the gender parity certification in sustainable development.
NMB has also become the first organisation in sub-Saharan Africa to earn the certification, which recognises the lender’s People and Diversity, Equity & Inclusion Strategic commitment.
He said only two other northern African organisations have that credential.
NMB also recognises the relevance of closing the gender gaps in sustainable human development and it is for that reason that the matter is a priority of the Sustainable Development Goals (SDGs) agenda.
The UN SDG #5, which aspires to “achieve gender equality and empower all women and girls” by 2030 also takes into account the contribution of the growth of the banking business in development.
“We are committed to creating a workplace that taps and unlocks the diversity of our people and empower them to deliver innovative solutions, benefiting our employees, customers and community,” he said.
Gender inequality is a taboo at NMB Bank, which the national top financier says it will always fight and is desirously ready to eliminate at any cost.
The bank has now begun enjoying the returns of the investments it has been making to advance gender parity internally and across Tanzania.
Its pursuit of gender equality and the efforts it has been making over the years in that regard have not only earned it international recognition but also accorded it a slot in the league of champions of equal opportunities for all.
Daily News
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