Banking industry steps up efforts to empower women professionals
Dar es Salaam. In a concerted effort to address gender disparities in leadership roles within the banking industry, Tanzania’s financial institutions are ramping up initiatives aimed at empowering women professionals.
According to a recent survey conducted by the Tanzania Bankers Association (TBA), despite constituting 47 percent of the banking workforce, women hold only ten percent of decision-making positions, with less than 20 percent representation on boards of directors.
Speaking ahead of International Women’s Day (IWD) to be marked on March 8, TBA vice chairman Geoffrey Mchangila, underscored the need for total inclusivity and urged women to take the lead in nurturing the next generation through mentorship.
He emphasised the importance of creating avenues for women to excel in fields like Science, Technology, Engineering, and Mathematics (STEM).
“In the realm of leadership, I encourage you to take on the responsibility of mentoring young women, providing both guidance and support to schoolgirls as they strive to achieve their dreams,” he said.
The TBA has outlined a series of action plans to tackle the challenges faced by women in the industry, including the establishment of forums dedicated to women in finance. These forums aim to provide a platform for open discussion, foster collaboration, and unify women across various institutions.
“We are committed to funding this forum and it is up to you to initiate it, as it will bring together diverse women from both within and beyond the sector,” Mr Mchangila said.
The banking industry is committed to collaborating with external partners to enhance the leadership skills of women already in managerial positions. This collaborative effort seeks to equip women with the necessary skills to compete for top leadership roles effectively.
During the discussions, Comprehensive Community Based Rehabilitation Tanzania (CCBRT) chief executive Brenda Msangi stressed the importance of building a robust support system and advocating for teamwork among women professionals.
“Every day, it’s crucial to prioritize and delegate tasks. Don’t hesitate to seek support from a mentor or coach who can advocate for you positively and foster teamwork,” she said.
Intensified efforts within the banking industry reflect a broader commitment to promoting gender equality and inclusivity in leadership positions.
By empowering women professionals and providing them with the necessary support and resources, the industry aims to foster a more diverse and equitable workplace environment.
On the other hand, TBA chief executive officer Tusekelege Joune added, “We have been hosting events like this annually to track the progress of women’s representation in the banking industry. These gatherings encourage others to grab opportunities within the banks such as vie for top positions,” she noted.
Ms Joune said the collaborative efforts between banks and various institutions aimed at empowering women to ascend to senior positions within the banking industry. “We have made progress; there are now women CEOs in major banks, and we’re continuing to advance.”
