EGX Chairman And the Minister of Investment Ring the Bell for Gender Equality
08/03/2018
The Egyptian Exchange (EGX), in collaboration with the
International Finance Corporation (IFC), a member of the World Bank Group, the
United Nations (UN), the Global Compact Network in Egypt, the National Council
for Women and the Egyptian Institute of Directors held a conference in the occasion of
the International Women's Day on order to raise awareness about enhancing
women's participation in the economy.
The Minister of Investment and International Cooperation,
Dr. Sahar Nasr rang the bell today, Thursday celebrating the International
Women's Day, in the presence of Mr. Mohamed Farid, EGX Chairman, Mr. Walid Lebady,
IFC Regional Manager for Egypt, Libya and Yemen, Mr. Mohsen Adel, EGX vice
Chairman, Business leaders, investors and civil society members.
Mohamed Farid, EGX
Chairman, stated that EGX is highly supporting the gender equality issue expresseing his full commitment to
supporting all efforts aimed at empowering women and enhancing their role in
various political, economic and social fields
Mr. farid added
that all international institutions assert that women empowerment pushes the
vehicle of the economic growth and improves society. In this respect, he added
that EGX signed in July 2017, a memorandum of understanding with the Business
School of the American University to promote for the participation of women on
EGX Listed Companies’ Boards.
He asserts that
this cooperation will create a proper database of qualified women ready to join
corporate boards in line with developing the role of women on the listed
companies’ boards. Farid finally highlighted that about 47% of EGX listed
companies has at least one lady their Board of Directors.
The Minister of
Investment, Dr. Sahar Nasr said that women are an important pillar in the
economic and social development, stressing that the investment law stipulates
gender equality, explaining the ministry's support for women entrepreneurs and
women's projects, which allocated about 50% of grants to women.
The Minister pointed
out that women in Egypt have achieved great progress. President Abd El-Fattah
Al-Sisi allocated Year 2017 for women. The current government has about 6
ministers and the parliament has witnessed the largest representation of women
in its history.
The Minister congratulated
the Egyptian women on the celebration of International Women's Day, saying:
"Happy day for every Egyptian mother."
The Conference
honored the Minister for her efforts in supporting and empowering women in
Egypt.
"Gender diversity is not only the right
decision, it is also the smartest decision, and we welcome and encourage the
common voice that stock exchanges play by calling for equal gender
representation on corporate boards and senior management as a whole," said
Waleed Labadi,