MEMPHIS REISEN

Women’s representation in Egypt’s top companies shows modest gains – Dailynewsegypt

A recent survey by Daily News Egypt examined the gender composition of the boards of directors for companies listed on the EGX 30 index of the Egyptian Exchange. The study aimed to quantify female representation within these leading firms.

Out of the thirty companies surveyed, a total of 54 women serve on their boards, predominantly in non-executive roles. This figure stands in contrast to the 263 men holding board positions, resulting in a female representation rate of 16.7%.

The survey highlighted that the Eastern Company and Misr Fertilizers Production Company (MOPCO) lack any female board members. Conversely, Beltone Financial Holding leads in gender diversity with a board comprising seven members, four of whom are women, achieving a representation rate of over 57%.

Additionally, six companies feature a single female board member: Abu Qir Fertilizers, Ezz Steel, Palm Hills Developments, Eipico, Telecom Egypt, and Sidi Kerir Petrochemicals.

Most firms adhere to the Financial Regulatory Authority’s guidelines, which recommend appointing at least two women to their boards. However, only Edita Food Industries and the New Urban Communities Authority exceed this benchmark, each with three female board members.

In July 2021, the Financial Regulatory Authority mandated that companies should have a minimum of two female board members or ensure that women constitute at least 25% of their boards. This directive, a voluntary commitment, offers companies a choice between the two criteria.

This regulation extends to entities listed on the Egyptian Exchange, companies engaged in non-banking financial activities under the authority’s oversight and related unions.