Taking stock

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By Kershini Govender, Nedbank’s Executive Head: Transformation and Strategy

As Women’s Month draws to an end, it is appropriate to assess the progress we have made in promoting the values of gender equity and women’s empowerment in our country. In line with our aspiration of advancing purpose led transformation, Nedbank has firmly committed itself to achieving gender equity targets and ensuring that women are able to thrive in the organisation and in society at large. 

Supporting this ambition, women now make up 61.8% of our workforce, and in 2022 Nedbank placed second in the ‘Women on Boards’ category at the Gender Mainstreaming Awards. Of our corporate social investment programmes, we are proud that 61% of our investments support women-beneficiaries. Some R4.8-billion of our B-BBEE weighted procurement spend was allocated to black-women-owned businesses, increasing by 33.3% in 2022. As part of our efforts to address the challenge of youth unemployment, more than two-thirds of the nearly 10 000 work experience opportunities created through Nedbank’s Youth Employment Service programme have been taken up by women.

In 2002 we established Nedbank’s Women’s Forum to drive the promotion of equal opportunities and fair treatment of women in the workplace, and this forum continues to make a valuable impact including driving Nedbank’s commitment to the UN Women’s Empowerment Principles (WEPs). Our metrics for success have shown massive growth since Nedbank CEO Mike Brown signed the commitment, with Nedbank now ranked at leader status against measures including work-life balance, fair treatment, and maternity leave.

As we reflect on the sacrifices and gains made by the women who have ascended before us, breaking barriers and shattering glass ceilings, we also take stock of the challenges that still lie ahead, including broadening the talent pool of women in STEM, and supporting inclusive policies towards trans-women. We have much more to do in championing gender diversity, and levelling the playing fields for all young women, irrespective of their background.

Case study 1: The Women in Tourism programme

Through our Enterprise and Supplier Development programme, Nedbank contributed R4.4-million for the implementation of a business development programme nationally with 225 women-owned businesses in the tourism sector. Nedbank together with key role players custom-designed a flexible programme, delivered in two phases, that would accommodate a variety of businesses that make up the sector. 

Phase 1 of the programme, completed in June 2022, saw the 225 business owners receive training and business acumen for four months.

Phase 2, completed in June 2023, involved intensive mentorship and business development of 45 businesses with the view to defining sustainable growth strategies. These 45 businesses have created 356 jobs since commencing the programme.

Case study 2: AWIEF women business accelerator programme

Nedbank provided R2.6-million to the AWIEF Growth Accelerator to support 40 women-owned businesses across South Africa. The Accelerator programme is designed to suit the unique needs of early-stage and high growth-oriented enterprises with business modelling and growth strategy training, business leadership skills, corporate advisory, mentoring, coaching, networks, and orchestrating strategic partnerships. The 40 businesses created 150 jobs.