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International Women’s Day: What will it take to achieve gender equality?

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“There should be equality for all men and women at all levels, and all ages” was the compelling call from Anna, one of our young female talents at Nestlé CWA Ltd, about gender equality.

During our short conversation in the elevator a few weeks ago, I was struck by the composure, determination and focus of this bright graduate trainee when we talked about her current role – and her inspiring ambition to be a CEO herself in the future.

On this year’s International Women’s Day , her comment really made me think about what this year’s theme, #EachForEqual, actually means. As a senior leader, not only do I feel a responsibility to guide employees to aspire and empower themselves to become who they want to be, it is also about how collectively we can make ambitions like Anna’s a reality for all.

More African companies should step up gender equality initiatives

In Central and West Africa, an increasing number of companies, including Nestlé, have been making progress to boost gender balance. In Ghana, MTN opened a crèche at its new offices in Accra to provide childcare for employees’ children aged 5-15 months and breastfeeding facilities for mothers. Newmont Corporation is also aiming to change its male-dominated workplace by hiring and promoting employees, regardless of gender, and offering breastfeeding amenities on site.

These are just a few examples of companies in the region taking concrete actions to make gender equality a reality in the workplace.

However, these are not enough and progress needs to be accelerated. At the current pace of change, the World Economic Forum predicts that it will take a staggering 99.5 years to attain gender parity. Therefore, all employers should double their efforts to achieve gender balance.

Providing equal opportunities for both men and women

I believe a conscious effort must be made by all organisations, public and private, to offer equal opportunities to both men and women.

In Africa, this is challenging because young women, compared to young men, are less likely to be formally employed or go into education or training, according to The World Bank . Unequal access to education, early marriage rates among women and family responsibilities must be overcome swiftly to increase the number of women in the formal workforce.

Nestlé, as the world’s largest food and beverage company, took action last year to make gender balance a priority and announced the Gender Acceleration Plan , which is based on three pillars: bold leadership, an empowering culture and a set of enabling practices.

In our region, for example, we are actively increasing the number of women in departments that traditionally hire men. At the Technical Training Centres in Côte d’Ivoire and Nigeria, we are balancing out the intake of candidates in training programmes, which were predominantly male in the past.

In fact, there has been nearly an 80% increase in admissions of women, and now there is almost an equal ratio of men to women in these training centres.

We have also recently appointed our first female factory manager, Joëlle Abega-Oyouomi, factory in Côte d’Ivoire that produces MAGGI bouillons. Before she took on this role, she headed Nestlé’s Research and Development Centre in Abidjan, Côte d’Ivoire. In addition, we appointed the first female production manager for Nestlé CWA, Julia Atta, at the Tema factory in Ghana in 2018. These mark momentous milestones for our company in the region and challenge the ‘non-traditional’ line of work for women. These women are also remarkable role models for young African women aspiring to leadership positions.

Prioritise parental equality

As Anna and I discussed juggling family and work-life, she said that while she isn’t a mother yet, it is clear to her that pregnancy, childbirth and childcare falls heavily on women and could slow down career progression. Current maternity leave in Central and West Africa is better compared to many other countries in the world. However, are they sufficiently addressing the much-needed balance in child-rearing responsibilities?

Parental leave for both men and women helps to close the equality gap. It answers the desire of younger generations who increasingly want equal roles in parenting. Parental leave also has numerous benefits for business, the economy and society, as highlighted by Forbes . It helps transform the perception that caregiving is a female responsibility, it minimizes the ‘motherhood penalty’ in the workplace, and allows parents to invest time to ensure their child has the best start in life.

A trailblazing moment for Nestlé in the region will be the roll out of its gender-neutral parental support policy , which will be completed in 2021. Under this new policy, parental leave for primary caregivers – biological and adoptive – will be extended to 18 weeks fully paid leave and, for the first time, we will also offer a minimum of four weeks for secondary caregivers, like fathers, for whom the global minimum was previously one week.

Also Read: Interview: Oprah Winfrey Leadership Academy For Girls Executive Director, Gugulethu Ndebele On Girls And Leadership

Equality starts at home and a company’s parental leave policy should be inclusive to enable employees thrive and achieve their career aspirations.

Lessening bias at work and at home

There are still a lot of preconceived ideas about men and women’s roles in African society.

According to the African Development Bank Group , African women are held back from fulfilling their potential, whether as leaders in public life, in the boardroom or in growing their own businesses. They spend too much time carrying out household activities – tasks that can be shared by both genders. Such traditional barriers are fundamentally unfair and can restrict women achieving their full potential.

A mind-set change from ground level to the top is necessary – there should be equality at entry-level positions, as well as in positions of power, since leadership should be reflective of the change we want to see.

To overcome biases, managers and employees at Nestlé receive diversity and inclusion training to instil a culture of inclusion and reduce bias in the workplace. Job advertisements are now gender neutral to minimize the perception that a specific role is directed at a particular sex.

Employment must be solely based on qualifications, experience and merit, not gender.

Empowering equality to become a reality

Achieving gender balance and equality should be a top priority in our society. This is why supporting #EachForEqual and endorsing equality across the company is part of Nestlé’s commitment to enhance gender balance in our workforce and empower women across the entire value chain .

We encourage other organisations and companies in Central and West Africa, and worldwide, to continue making progress in providing equal opportunities for both men and women, prioritising parental equality and lessening bias at home and at work.

Gender equality can be a reality and it is also up to all of us to instil this mentality and empower young talents like Anna. More women in the workplace makes business sense . It is good for companies, good for the economy and good for Africa.

This is indisputable and we must continue to drive diversity for all.

By Rémy Ejel, CEO of Nestlé Central and West Africa (CWA) Ltd

Nestlé Central and West Africa (CWA) Ltd

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Press Release

Koa Academy Wins MEST Africa Challenge 2023, Secures $50,000 Funding

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Koa Academy team

MEST Africa, a leading Pan-African tech entrepreneurship training program, seed fund, and incubator, proudly announces Koa Academy as the grand prize winner of the 2023 MEST Africa Challenge (MAC), securing a $50,000 equity investment after a competitive pitch battle among Africa’s brightest tech innovators.

In a thrilling showcase of ingenuity and entrepreneurial spirit, Koa Academy from South Africa stood out at the MEST Africa Challenge finale in Accra, Ghana, surpassing contenders from across the continent. This coveted startup competition, known for identifying and nurturing tech talent, saw Koa Academy clinch the top spot with its groundbreaking solution, poised to transform the Edtech industry.

The competition drew applications from hundreds of early-stage tech startups, rigorously assessed on criteria such as innovation, scalability, and team strength. Finalists from Ghana, Nigeria, Senegal, South Africa and Kenya competed in the grand finale, demonstrating their unique solutions and business models to a panel of esteemed judges, including investors and industry experts.

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Koa Academy, Winner of the 2023 MEST Africa Challenge and a South African innovator in online education, offers dynamic and interactive courses for grades 4-12. With a focus on engagement and accessibility, it champions digital learning, making quality education available to anyone, anywhere, and transforming the educational landscape in South Africa. The startup impressed the judges at the MAC Finale showcasing significant market potential, revenue growth, and social impact.

“Winning the MEST Africa Challenge has been an amazing experience for the Koa Academy team. It highlights the hard work and dedication that everyone has put into growing Koa. This recognition is not just an award; it’s a testament to the passion and perseverance that drives us every day. Amidst the challenges, this journey has brought us closer to others across the continent, forging relationships and connections that fuel our mission even further. We are reminded that we’re not alone in this endeavor and are incredibly grateful for the support and learning opportunities this challenge has presented,” said Lauren Anderson, Co-founder and CEO, Koa Academy, expressing gratitude and optimism for the future of tech startups in Africa.

Ashwin Ravichandran, Portfolio Advisor at MEST Africa congratulated the winner and finalists for their exceptional achievements and resilience. The event also highlighted the support of Absa Bank Ghana for contributing to the challenge’s success. The MEST Africa Challenge continues to be a pivotal platform for emerging tech startups in Africa, offering funding, visibility, and support to innovate and scale. Koa Academy’s victory underscores the vibrant potential within Africa’s tech ecosystem, promising a brighter future for the continent’s digital landscape.

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Deel Acquires PaySpace

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Deel announced today that it is acquiring African-based payroll and HR solution company PaySpace for an undisclosed amount. It is one of Deel’s largest acquisitions to date.

PaySpace has more than 20 years of payroll technology experience, providing payroll engines and HR services in 44 countries across Europe, Latam, Middle East and Africa for more than 14,000 customers. Its size, expertise, and proprietary disruptive payroll technology give it unrivaled scale and reach. Customers include multinationals across various industries such as Heineken, Coca-Cola Beverages and Puma Sports SA.

By acquiring PaySpace, Deel will become the first global payroll & Employer of Record (EOR) with its own full-stack payroll engine localized in 50 countries and integrated into its offering. Deel has the ability to be the system of record for HR organizations worldwide and can give its customers a simple and single interface to manage their global teams. All of this results in greater efficiency and control for companies, faster payroll cycles, more localized compliance insights relevant to their workforce, plus the ability to make changes to their payroll at any time.

The news follows Deel’s acquisition of leading APAC payroll provider PayGroup. Deel now owns the full HR stack- entities, local teams (legal, HR, payroll), and local payroll engines – across six continents. Its four-year ambition is to serve 100 countries with native payroll engines, and this acquisition is a significant step toward that goal.

Deel co-founder and CEO Alex Bouaziz said, “Global payroll is hard to do and critical to get right. As a company, you want assurances you can pay your teams on time, compliantly, anywhere in the world. PaySpace’s single-platform payroll expertise and breadth of coverage, particularly in Africa and the Middle East, combined with PayGroup’s presence in APAC, will give Deel customers the reach they need to grow their businesses globally. Our long-term vision is to be the most comprehensive payroll system in the world.”

PaySpace’s proprietary technology is a cloud native framework built as a single engine. Its platform allows for easy configuration to add additional countries through localization. These localization projects normally take years to complete, but with PaySpace’s innovative technology, it can localize much faster than any other payroll provider.

Clyde van Wyk, PaySpace Director explained, ”Like PaySpace, Deel strives to evolve its offering through disruption. We set out to modernize the payroll industry, which was burdened by manual processes and stringent legislative and compliance requirements, much like Deel revolutionized global hiring. This acquisition brings together leading employment services and payroll technology expertise, delivering a unique and powerful customer offering with unrivaled automation, flexibility and scalability.”

Deel also announced today that it has achieved $500M+ in annual recurring revenue (ARR) organically, outside of this acquisition. In under five years, the company has grown to 3,000 team members in more than 100 countries. It has been EBITDA positive and consistently generating cash for a year and a half.

Since its founding, Deel has transformed into the all-in-one HR and payroll solution for global teams. It owns 150+ entities in the world and now manages in-house in-country payroll teams in over 70 countries, in addition to offering Employer of Record, contractor, immigration, HRIS, and performance management services worldwide.

 

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Press Release

Dream VC Launches Its 2024 Venture Capital Fellowship Program

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Dream VC, Africa’s foremost venture capital institute and investor accelerator announces the commencement of applications for the 2024 cohorts of their flagship African-focused Venture Capital training programs. Founded in 2021, Dream VC has trained more than 170 African and Africa-focused investment professionals across 3x successive cohorts and 5x programs, many of whom are currently leading and operating in different investment roles across over 65x African investment firms.

The annual remote venture capital fellowship programs provide the ideal launchpad for all aspiring and current investors to break into the African venture space, with an extensive curriculum, practical training, and direct exposure to world-class investors provided to both junior and more venture enthusiasts.

Dream VC’s tailored educational investor training programs are dedicated to creating the necessary pipeline of talent, the next generation of African-focused investors. Investor Acceleratorand Launch into VC are Dream VC’s remotely delivered flagship venture capital fellowship programs, both run entirely virtually. The two concurrently running programs provide an ideal launchpad for all aspiring and current investors to learn, practice, and sharpen the skills needed to successfully find, invest in, and grow African technology businesses.

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“The Dream VC fellowship was a big part of my journey into Venture Capital, it allows you to work alongside enthusiastic venture capitalists in the African VC ecosystem, gain hands-on experience in due diligence and deal sourcing, and build a strong network in the industry,” said Cinderella Alinaitwe, now an Investment Analyst at Pearl Capital Partners, a Dream VC alumni (2021 cohort).

“Dream VC is what I wished I had access to when I started my VC journey. The barrier to entry is high for anyone looking to break into the African VC industry, and going through Dream VC equips individuals with the necessary skills set needed to land that entry-level role at an African VC firm. With more African funds springing up every year, there is a huge opportunity to fill positions and get the best talent. The current gaps in the market for talent are huge, and Dream VC is plugging into a critical pain point. With Dream VC, you are sure of the best talents to hire from.” echoes Dayo Koleowo, General Partner at Microtraction and a past speaker at Dream VC’s venture capital training programs.

This year, Dream VC is back in full force with an expanded team and a success rate evidenced by the many funds that count Dream VC alumni on their teams. In 2024, the investor accelerator will accept applications for their now-familiar venture capital training programs from today, the 27th of February 2024. The two programs running for this year are:

Dream VC’s focus on accessibility continues, and Dream VC is proud to share that they have once again secured a round of commitments from their partners and alumni to enable the Dream VC Access Foundation (Dream VC’s scholarship arm) to provide much-needed support and financial assistance to any aspiring investor-in-training, who makes it through the application process but cannot cover a portion of the program costs.

“Our commitment at Dream VC extends far beyond merely churning out a set number of investors within a specific timeframe. We’re dedicated teachers and builders, meticulously identifying and bridging gaps within the investor ecosystem across Africa. We firmly believe in the immense potential of African talent. Through our programs, we’re shaping future leaders poised to enter various roles within the venture capital landscape, from joining VCs and launching funds of their own to becoming angels, venture builders, and ecosystem enablers at ESOs,” remarked Mark Kleyner, Co-Founder of Dream VC, highlighting Dream VC’s pivotal role and continued success rate in nurturing and empowering investors, funds, and corporate entities to actively participate in Africa’s burgeoning startup scene.

Applications for the 2024 cohort for “Launch into VC (LIVC)’’ and “Investor Accelerator” programs open on Tuesday, February 27th, and will close at 23:59 GMT on the 14th of April 2024.

Both programs will run concurrently from summer to autumn. Launch into VC runs for 4 months from June to Late September. The Investor Accelerator program commences in June and runs until October for a total of 5 months.

Interested applicants can apply for the 2024 cohort of Dream VC’s programs here before 23:59 GMT on April 14th, 2024: https://forms.gle/DJuY7QHsMMYxBEBZ9

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