NBS Bank blows own trumpet on women empowerment

NBS Bank plc has blown its own trumpet on its progress in promoting women in leadership positions within the Malawi Stock Exchange-listed bank. The bank’s chief executive officer Kwanele Ngwenya said this in a statement as the bank commemorated International Women’s Day under the theme ‘Embrace equity’.

Reflecting on the day, he said NBS Bank recognises the role women play in the country’s socio-economic development. He said it is important to give women equal opportunities in leadership positions in the bank.

Said Ngwenya: “We used to have 30 percent women and 70 percent men in tertns of employees. In leadership, only one out of 13 were women. “In 2017, a new strategy was developed which, among other things, focused on women empowerment through the total number of employees and those in leadership positions.”

He said as ofJanuary this year, there are 48 percent females and 52 percent males that make up the employee head count at NBS Bank.

Ngwenya said the executive and sailor management has eight women and 10 men, translating to 44 percent and 53 percent. respectively. “Additionally, these appointments are based on merit and one can appreciate the extensive experience and expertise in their respective fields.

This goes to prove how seriously NBS Bank cakes issues of gender equity,” he said. Ngwenya also said NBS Bank acknowledges the importance of developing the upcoming generations through various initiatives it has undertaken, namely scholarship and mentorship programme with secondary school girls.

“Through this initiative, young girls are paired with female managers as their mentors to ensure they are equipped with the necessary tools to realise their full potential. The bank is, therefore, saying let us all embrace equity today for a balanced tomorrow,` he said.

In December 2022, the Employers Consultative Association of Malawi (Ecama) awarded NBS Bank plc for emerging top in gender equality category. Ecama executive director George Khaki said the bank has demonstrated leadership by promoting women in key leadership positions.

In the year ended December 2022, NBS Bank plc expects its profit-after tax to be approximately 140 percent higher than the profit recorded in the comparative period the previous year.

This year’s International Women’s Day was commemorated under the theme IDigitALL: Innovation and technology for gender equality’. The day is celebrated on March 8 as a focal point in the women’s rights movement, bringing attention to issues such as gender equality, among others.