March 8th is known worldwide as International Women's Day (IWD), a time to celebrate the achievements of women whilst raising awareness of gender-based bias, stereotypes, and discrimination.
IWD doesn't seek to isolate men from the narrative but rather invites them to become allies in the movement towards a more diverse, equitable, and inclusive world.
That said, this year’s theme is #EmbraceEquity to drive change through collective action. Equity by definition is to be treated fairly. In practice, it is about ensuring everyone has the same opportunity and resources given the circumstances.
Here are some highlights from the FT’s ‘Women in Business’ topic to help inspire conversations around the significance of gender equity.
1. All-female African mine carves out sustainable future
Iver Rosenkrantz and Patrick Tendayi Zindoga, alongside two friends, founded Zimbaqua in the small town of Karoi in Zimbabwe. The company is ‘leading an economic revolution’, potentially becoming ‘Africa’s first sustainable all-female mine’. The Zimbaqua gem mine currently comprises 35 female miners, most of whom are single mothers with little or no education.
We saw, for ourselves, just how much these women struggled — there are no job opportunities here.
Founder of Zimbaqua
The founders noticed that alcohol and domestic abuse was prevalent in this region, leading to the premise that women must become breadwinners to make a positive change in the community.
We believe there is a need for change and inclusivity.
Founder of Zimbaqua
This venture has proven to be a life-changing opportunity for women residing in the rural communities of Zimbabwe. Zimbaqua has allowed them to break into a male-dominated industry to become financially independent whilst garnering international support for being environmentally conscious.
2. UK women created record number of new companies in 2022
Female entrepreneurs respond to challenging economic times by establishing new businesses and setting out on their own.
Chief Executive of NatWest Group.
Despite macroeconomic uncertainty and political instability, the number of female entrepreneurs in the UK continued to climb in 2022. An independent review revealed that the number of companies launched by women in the UK rose by 4.4%. The findings disclosed have led the government to announce its plans to launch nearly 600,000 female entrepreneurs by 2030.
In 2022, around 190 financial services institutions committed to improving access to funding for female entrepreneurs to help female-led companies grow.
3. From Pakistan to the Philippines, women break open closed industries
Suwapich Wongwiriyawanich, also known as Captain ‘Windy’, is one of the first women to become a pilot for AirAsia. Her transition from ‘cabin to cockpit’ perfectly illustrates how Asia’s workforce is shifting as more women take on male-dominated roles.
Jahanara Alam was scouted for Bangladesh’s first national women’s cricket team. At the 2010 Asian Games her team brought back a silver medal and won against reigning champions India at the 2018 Women’s T20 Asia Cup. Alam is also recognised as the ‘first Bangladeshi bowler to take a five-wicket haul in women’s T20 international cricket.’
Dr Hsieh Yong-Fen is the first female in Taiwan to receive a PhD in materials science and engineering. Top chip companies in Taiwan look to Hsieh to help solve issues with their integrated circuits. She founded the analytical lab MA-tek with female engineers making up nearly 30% of her team.
When women make up at least 30 per cent of a particular [science, technology, engineering, and mathematics] field, other women are drawn to that field.
Associate Director of research at the Society of Women Engineers
4. Young women push for greater representation in the climate debate
Girls are victims [of climate change]. If they want to say something, they will not be shy.
Climate Campaigner
Gender balance has become a part of the discussion at recent international climate conferences, as young women lead a wave of youth climate activists with many seen attending COP26 in Glasgow.
Environmental lawyer and climate activist Farhana Yamin started working on international climate negotiations before the first COP meeting in 1995. She brought gender balance to the agenda at COP22 as ‘women had laid the groundwork’ so they should be equally represented in climate negotiations.
In September 2022, SHE Climate Change sent a letter to the COP27 Presidency and Leadership team, signed by 700 world leaders, for equal representation at the Sharm el-Sheikh Climate Change Conference.
5. How women broke into the boardroom
In July 2022, the 30% club celebrated their 10th anniversary. Their main focus was to help more women fill roles within the boardroom with their mentoring programme.
The 30% club began its journey with eight companies and is now considered the ‘biggest scheme of its kind in the world’. In the UK, only 12% of directors on the top boards were female when the club was first launched. In 2022, this figure rose to 40%.
We need to keep an achievable goal. This is now the biggest campaign in the world around gender and inclusivity.
Vice-Chair of Mastercard and Global Chair of the 30% Club
6. Breaking the glass ceiling in the Middle East
Rita Huang is the founder of iMile, a start-up in Dubai valued at more than a billion dollars. The delivery firm has tripled its revenue since November 2020 as TikTok joined its list of investors.
Huang also raised $40mn in the Series A funding round for iMile. The company is said to be on its way to becoming the ‘first female-founded unicorn’ in the Middle East, expanding operations to more than 11 countries.
More FT coverage on women in business
- “Childcare is deeply political but they see it as ‘those little women over there."
- “A number of the companies now offering these benefits have a history of donating to anti-abortion politicians.”
- “Even as a sous chef at 25 years old [at Gordon Ramsay Group], I would go to the boardroom and go through the profit and loss.”
- “In the past, it has been clear that qualified women haven’t had the same opportunities as qualified men to sit as arbitrators.”
- “I am a hard-working professional and there is no reason I should not be able to afford my family.”
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