Promoting Women on African Boards: An Examination of Board Diversity Provisions in Corporate Governance Codes

Irene Nalukenge, Vidisha Ramlugun, Teerooven Soobaroyen

Research output: Chapter in Book/Published conference outputChapter (peer-reviewed)peer-review

Abstract

This chapter examines how sustainability commitments to gender equality and women's empowerment are reflected in national/sectoral corporate governance codes and their reporting corporate governance reports of African listed companies. We reviewed data from 32 African codes and selected company annual reports. Our findings reveal that notions of board diversity and board gender diversity, as set out in the codes, are conceptualized, acknowledged (or sometimes made implicit), and expressed in different ways. Only fourteen African codes (about 44%) refer to gender diversity, with few specifying the appropriate balance and mechanisms for achieving it. In addition, few companies disclose board gender ratios or board gender targets in their annual reports. We discuss the implications of these results and recommendations for policymakers and enabling institutions (e.g., institute of directors, code-issuing authorities, African Union agencies).
Original languageEnglish
Title of host publicationHandbook on Corporate Governance and Corporate Social Responsibility
EditorsMichel Magnan, Giovanna Michelon
PublisherEdward Elgar
Chapter22
Pages285
Number of pages310
ISBN (Print)9781802208764
DOIs
Publication statusPublished - 18 Jan 2024

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