I am Generation Equality: Realizing Women’s Rights

Egyptian Exchange Posted

The Egyptian Exchange (EGX), in collaboration with the International Finance
Corporation (IFC), a member of the World Bank Group, UN Women and the
Egyptian Institute of Directors, organized the Ringing the Bells for Gender Equality
annual celebration, entitled “I am Generation Equality: Realizing Women’s Rights”
this year. The annual event aiming to celebrate International Women’s Day to
encourage women’s empowerment in Egypt.
Dr. Nabila Makram, Minister of Emigration, Dr. Hala Al-Said, Minister of Planning,
Yasmine Fouad, Minister of Environment, and Dr. Basant Fahmy, member of the
Egyptian parliament, participated in opening of the trading session today,
Monday 9 th of March 2020, in the presence of EGX’s Chairman Mohamed Farid
Saleh, Walid Labadi, IFC’s Country Director, Dr. Maya Morsi, President of the
National Council of Women, representatives of related entities supporting and
empowering women, and a number of women leaders of listed companies.
The event is part of the IFC Corporate Governance Program aiming to help local
companies operate efficiently and improve access to capital, implemented in
partnership with the Ministry of Finance of Japan. According to IFC, gender
equality help drive business, stimulate economic growth, improves lives of
families and communities, strengthen gender equality, and enhance resilience in
confronting violence.
Mohamed Farid Saleh, Chairman of EGX, expressed the full commitment of its
management in supporting all efforts aiming at empowering women and
strengthening their role, especially in the registered companies, pointing out that
all international institutions emphasize that the empowerment of women does
not only contribute to improving the performance of companies at the financial
and administrative level but is an essential element in supporting economic
growth rates. He added that women’s empowerment requires developing the
work environment to suit their requirements, as well as motivating women to
increase their participation in the labor market. Adding “48% of listed companies
have at least one woman on their board in 2019, compared to 45% in 2018, and
the number of companies with two women on the board increased by 133%.”
Ambassador Nabila Makram Abdel Shaheed, Minister of Immigration and
Egyptians Affairs abroad, expressed her pleasure to participate in today’s
celebrate, wishing the EGX prosperity, praising its management and their efforts
in supporting the process of enhancing opportunities for women. She added that
Egyptians abroad are an integral part of the Egyptian economy, pointing out that
their cash transfers have had a major impact on the Egyptian economy, and that

is due to their confidence in the economic reforms taking place in Egypt. She
explained that EGX’s chairman and management is cooperating with the Ministry
to introduce basics of investment in the Egyptian market to motivate them to
invest in their homeland.
Dr. Hala Al-Saeed, Minister of Planning and Economic Development, said that
increasing women’s participation in the labor market is an integral part of Egypt’s
vision 2030, promoting opportunities for economic growth, the more
economically empowering women, the greater the benefit to the national
economy and the greater the gross national product. She referred to the
statement of Christine Lagarde, stating that “Empowering women is critical for the
world’s economy and people”, pointing out the efforts of the government and the
serious steps taken in the field of women’s empowerment.
Dr. Yasmine Fouad, Minister of Environment, said that the Egyptian government
believes in the importance of women’s economic empowerment and gender
equality, adding that the coming period will see coordination with EGX to increase
percentage of listed companies committed to environmental controls and
thanking them for their interest in supporting the process of women’s
empowerment.
Dr. Maya Morsi, President of Egypt’s National Council for Women (NCW), said
that fair representation of women in society supports the state’s efforts to
achieve comprehensive economic and social development.
Beatrice Maser, Regional Director, MENA, International Finance
Corporation (IFC), said “Empowering women is not only the right thing to do, it’s
also a form of economic intelligence. Access to finance and high unemployment
are key challenges facing women in Egypt and across the Middle East and North
Africa. The private sector has a vital role to play in helping to bridge the gender
gap, and we are working with our partners to help ensure equal gender
opportunities across the region.”