Digitise board composition, add women -lobbyists

The Nairobi Securities Exchange and Capital Markets Authority should automate board composition disclosure by establishing an online portal, New Faces New Voices.

The Pan-African advocacy group focused on inclusion of women in the financial sector said a portal allows listed companies better update their board and management information as well as increase transparency.

It is important to have greater transparency of when board positions are opening up or when directors are retiring, as this will help the potential candidates know which firms to target for opportunities,” NFNV founding trustee and analyst on board diversity Nuru Mugambi said.

Standard Chartered Bank emerged overall winner in the NSE New Faces New Voices Board Diversity Awards 2017, after ranking as the most improved company in board gender diversity between 2014 and 2016. The lender garnered 60 points out of a 100 backed by efforts made in diversifying its senior management level in 2016. Liberty Kenya Insurance came second with 47 points while Uchumi Supermarket, Total and Bamburi Cement were third.

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