50/50 WOMEN ON BOARDS LAUNCHES INAUGURAL AFRICAN CHAPTER IN NAIROBI AT TDB TOWER
Media Contacts:
Anne-Marie Iskandar
Senior Communications Officer
Corporate Affairs and Investor Relations
Anne-Marie.Iskandar@tdbgroup.org
Carol Warui
Co- Chair 50/50 WOB – Nairobi Chapter
5050WOB@thecwp.net
Nairobi, 17 October 2024 – 50/50 Women on Boards (WOB), the global nonprofit advocating for gender balance and diversity on corporate boards, launched its inaugural African chapter in Nairobi, Kenya, the 15th of October 2024, at TDB Tower. The launch marks a significant expansion of the organization’s mission to promote gender equality in corporate governance and leadership across the continent. The event attracted over 140 women in executive management from across various sectors.
Despite Africa’s leadership in global statistics—boasting the highest representation of women on boards at 25%, compared to the world average of 17%—significant gender inequality persists in boardrooms and corporate sectors across the region. The 50/50 WOB Nairobi Chapter seeks to address these disparities by providing African women with the training, mentorship, and networks needed to break through barriers and increase their representation in board positions.
Philana Mugyenyi, Founder and Co-Chair of 50/50 Women on Boards – Nairobi Chapter, expressed her optimism for the chapter’s potential: “The launch of the Nairobi Chapter is an important step toward advancing the agenda for African women in corporate leadership. While we’ve made progress, many talented women, especially young professionals, are still underrepresented on boards due to limited social capital and biases related to age. Through our programs, partnerships, and network, 50/50 Women on Boards will empower these women to take on leadership roles and create more inclusive boardrooms across Africa.”
Admassu Tadesse, TDB Group President and Managing Director highlighted the value of diverse boardrooms: “At TDB Group, we have seen how diversity supports innovation, strengthens governance, and ultimately improves performance. We strongly align with and support the mission of 50/50 Women on Boards. In addition to applying the gender lense to the financing we extend, we are proud that nearly half of our staff consists of women, with a strong female presence at top management and executive levels. Boards that lack diversity are prone to groupthink, limiting their strategic perspectives and ability to tackle complex challenges. The launch of 50/50 Women on Boards’ Nairobi Chapter will create pathways for African women to assume leadership roles, driving meaningful change in corporate governance.”
TDB Group is honored to partner with 50/50 Women on Boards as we strive to create an environment that fosters innovation, creativity, and gender equity both within our organization and among our Member States. We aim to support individuals and institutions in maximizing their potential for sustained productivity and development across the continent.
About 50/50 Women on Boards
50/50 Women on Boards (WOB) is a global nonprofit organization committed to achieving gender balance and diversity on corporate boards. Since its founding in 2010, WOB has provided educational programs, research, and events that equip women to become leaders in boardrooms worldwide.
About TDB
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is an investment-grade African regional development finance group, with the mandate to finance and foster trade, regional economic integration and sustainable development. With an asset base of USD 10 billion, TDB Group has 25 African member states, which alongside non-regional member countries and institutional investors from Africa, Europe and Asia, form TDB’s community of shareholders.
TDB Group counts several subsidiaries and strategic business units including Trade and Development Banking, TDB Asset Management (TAM), Trade and Development Fund (TDF), TDB Captive Insurance Company (TCI), the ESATAL fund management company and TDB Academy.
