Stanbic Bank commits to promoting gender equality in workplace

Stanbic Bank Kenya has committed to promote gender equality and women’s empowerment in the workplace, marketplace and community.

On Wednesday, the lender signed the Women Empowerment Principles (WEPS) established by the United Nations Global Compact and UN Women which targets to promoted gender equality in workplace.

“Our commitment to women is reinforced by our It Can Be brand promise which drives us to empower and invest in individuals and help reach their potential. As a bank, we are keen on providing continuous support to women, through financial and non-financial solutions that help them not only grow as individuals, but also spread this growth to their communities. We are committed in our efforts because we understand that women are the pillars of our society, and when women are empowered, the community is empowered,” said Charles Mudiwa, Stanbic Bank Kenya Chief Executive Officer.

The bank has agreed to adopt five of the seven principles which include Principle 1 – High-level Corporate Leadership, Principle 2 – Treat all Women and Men Fairly at Work without Discrimination, Principle 5 – Enterprise Development, Supply Chain and Marketing Practices, Principle 6 – Community Initiatives and Advocacy, and Principle 7- Measurement and Reporting.

The bank says it has already made strides in achieving milestones under these principles by ensuring that there is a higher representation of women in managerial positions and bridging the gender pay gap.

The bank has also rolled out a women proposition, DADA, which has successfully signed up over 29,000 women and offered capacity building and training in entrepreneurial skills to over 10,000 women.

Stanbic Bank also joined the Sourcing2Equal Kenya (S2E) private sector two-year peer learning platform to increase women’s participation in corporate procurement opportunities.

“Our objective is to deepen, broaden and strengthen our private sector engagement to help shift behaviors for gender-responsive business conduct. For individual organizations to take bold and meaningful action to ensure that the talents, skills, and perspectives of women are valued all the way up to boardroom level is the smart thing to do. We are excited to see Stanbic’s concrete actions transform into tangible gains for women in business,” added Anna Mutavati, UN Women Kenya Country Representative.

Stanbic Bank becomes the 50^th Kenyan company sign the Women Empowerment Principles allowing it to join a global network of over 5,000 companies that are committed to achieving gender equality in the workplace, marketplace and community.

“We commend Stanbic Bank for continuing to provide holistic financial benefits through financial literacy and education with the aim of boosting economic development and competitiveness in the financial sector. We believe the bank will fully harness the power of women’s potential in order to build a more equitable, inclusive and sustainable future for the generations to come,” said Judy Njino, Global Compact Network Kenya Executive Director.