In collaboration with over 118 global stock exchanges and organizations, the event underscored the vital role of the private sector in advancing gender equality and women's empowerment. Youths including young girls from Gashora girls school were also invited to attend the occasion.
Pierre Celestin Rwabukumba, the CEO at the RSE, opened the ceremony by acknowledging the collective efforts behind the movement and highlighting the critical role of the private sector.
"Today, we stand united with our partners in an international campaign underscoring the importance of gender equality and women's empowerment," he declared.
"Investors, shareholders, and CEOs must implement measures that guarantee inclusive workplaces, equal pay for equal work, and leadership opportunities for women," he urged.
The event spotlighted Rwanda's achievements in gender equality. According to the World Economic Forum's Global Gender Gap Report 2023, Rwanda ranks among the top nations in Sub-Saharan Africa, having closed over 70% of the gender gap.
Despite this progress, Rwabukumba acknowledged the barriers that persist. "There are still pay gaps, fewer opportunities for women in leadership, and structural stereotypes that limit potential. We must focus on dismantling these barriers to build a brighter future." he noted.
Mireille Batamuliza, the Permanent Secretary at the Ministry of Gender and Family Promotion (MIGEPROF), reflected on Rwanda's three-decade journey toward gender equality. "We no longer talk about basic education access, we discuss increasing women's participation in STEM fields and closing gender digital gaps," she stated.
Batamuliza called for collective action in three key areas: challenging all forms of violence and discrimination, investing in gender-transformative approaches, and promoting women's economic empowerment.
Representing UN Women Rwanda, Tikikel Tadele Alemu, Programme Management Specialist and Head of Programmes, praised the RSE's commitment to gender equality.
"The significance of 'Ringing the Bell' extends beyond a symbolic act. It is a call to action, highlighting the essential role the private sector plays in advancing gender equality," she remarked.
Alemu underscored the importance of implementing gender-responsive policies. "We must advocate for equal pay, invest in women-led businesses, and prioritize strategic investments that empower women and girls," she urged.
Alemu also emphasized the broader implications of gender inequality, citing findings from the 2022 Rwanda Labour Force Survey.
"The unadjusted gender pay gap in Rwanda stands at 26.2% at the hourly level and 38.5% at the monthly level. Moreover, women-owned businesses secure only 4% of the monetary value of public tenders," she revealed. According to her, these figures highlight the urgent need to accelerate gender-responsive procurement policies.
On her part, Janice Ryu, the International Finance Corporation (IFC) Representative for Rwanda and Uganda, framed gender equality as not only a moral obligation but also smart business.
"Investing in women and girls boosts productivity, organizational effectiveness, and return on investment. If we make real progress on gender equality, we could add $12 trillion to the global economy," Ryu asserted.
She outlined the IFC's approach to bridging gender gaps which entails increasing female leadership, promoting women's labor force participation, enhancing access to assets and markets, supporting gender-inclusive consumer products and engaging with community stakeholders.
"We work with our partners to address barriers to entrepreneurship, including access to capital and social networks. Our support for the National Bank of Rwanda has led to legal reforms prohibiting gender-based discrimination in access to credit," she explained.
Rwanda's impressive record in gender parity stands in sharp contrast to global trends. While women hold over 60% of parliamentary seats in Rwanda, global progress remains slow.
A 2024 Deloitte study indicates that women hold only 23.3% of board seats worldwide and at the current pace, gender parity in the boardroom may not be achieved before 2038.
Sam K Nkurunziza
Source : https://en.igihe.com/news/article/rse-joins-the-world-in-ringing-the-bell-for-gender-equality
