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KAMPALA, UGANDA | Julius Businge | In a bid to promote gender inclusivity in Uganda’s financial markets, the Uganda Securities Exchange (USE), under the leadership of CEO Paul Bwiso, hosted the Ring the Bell for ALL Women and Girls event in Kampala recently.
Organized in partnership with UN Women and other private sector players, the event was held under the theme: “Breaking Barriers, Empowering Women, Transforming the Economy.”
The USE and the UN Women have been at the forefront of gender-responsive initiatives, ensuring equal participation in capital markets. This commitment is exemplified through bell-ringing ceremonies, which rally private sector players to embrace gender equality as a fundamental right and a crucial business priority.
Speaking at the event, Paul Bwiso reaffirmed USE’s dedication to gender inclusivity.
“Our role in the women empowerment conversation is to drive growth and inclusion,” Bwiso stated. “We currently have about 250,000 investors, of whom 53,000 are women, representing 20%. Notably, 11,000 of these women have holdings in listed companies. A big hand clap to you ladies investing in the market!”
He further emphasized USE’s commitment to making financial markets more accessible.
“We have introduced technology that enables investors to trade directly via USSD and mobile applications, ensuring convenience and inclusivity,” he added.
Bwiso also said the role of stockbrokers in expanding access to capital and investment opportunities in both the bond and equities markets. “The key players in the market are driving the gender conversation,” he said.
Companies commit to gender equality
At the same event, several companies made a public commitment to gender equality by signing the Women’s Empowerment Principles (WEPs).
These companies include CIC Insurance Uganda Limited, Creditinfo Uganda CRB Ltd, Movit Products Ltd, Level Africa, Soleil Power, Yalelo Uganda, Cornerstone Asset Managers Limited, Letshego Microfinance Uganda, Chipper Technologies Uganda, and the Uganda Bankers Association.
Developed by the United Nations Global Compact (UNGC) and UN Women, the WEPs provide a framework for businesses to champion gender equality in the workplace, marketplace, and community.
The principles emphasize leadership commitment, equal opportunities, fair treatment, health and safety, education and training, enterprise development, and transparency.
By endorsing the WEPs, organizations commit to fostering an inclusive and equitable business environment that empowers women economically and drives sustainable development.
Dr. Paulina Chiwangu, the UN Women Uganda Country Representative, applauded the USE for its continued efforts toward gender inclusion.
“For many years, UN Women has championed the Women’s Empowerment Principles (WEPs) as a guiding framework for businesses to advance gender equality,” she said.
“We have encouraged private sector actors to commit to the WEPs…however, we recognize the need for a stronger accountability mechanism to ensure that signatory companies follow through on their commitments.”
As part of this year’s event, a Corporate Gender Accountability Network was established.
This network, composed of public, private, and UN actors, will serve as an accountability mechanism to ensure that WEPs commitments extend beyond the signing ceremony.
It will focus on tracking progress made by signatories, using a monitoring and evaluation framework, and engaging stakeholders to address challenges and drive meaningful action on gender equality.
Minister speaks out
Hon. Hellen Asamo, Minister of State for Gender, Labour, and Social Development in charge of Disability Affairs, who served as the chief guest, commended the Uganda Securities Exchange and UN Women for their alignment with the Government of Uganda’s Women Empowerment Agenda.
“The Government of Uganda has made significant strides in empowering women through initiatives such as universal education, the Youth Livelihood Programme, and the Uganda Women Entrepreneurship Programme (UWEP), all aimed at creating equal opportunities for women and girls,” she said.
She praised the USE’s efforts in fostering women’s participation in financial markets, recognizing their contributions through initiatives like the bell-ringing ceremonies.
“Such efforts reinforce the importance of inclusivity in driving Uganda’s economic transformation,” Asamo added.
With growing efforts from both the public and private sectors, the Ring the Bell for Gender Equality event continues to shine a spotlight on the importance of women’s financial empowerment and inclusive economic growth in Uganda.
