Egypt recently launched the “Closing the Gender Gap Accelerator” to reinforce its stance on female economic gender discrimination. This initiative is a partnership between the World Economic Forum (WEF), National Council of Women, the Egyptian Government and the private business sector. The financial and human capital investment in this undertaking shows that the country is committed to addressing gender inequality in Egypt.
Closing the Gender Gap Accelerator
In 2019, Egypt’s Minister of Tourism, International Cooperation and Investment, Dr. Rania Al-Mashat, signed a letter of intent along with the WEF and the National Council of Women to empower women. More than 48 million women represent this emerging countries’ population and the good news is that their involvement will expedite the growth of the economy and gather momentum in eliminating poverty.
Each party has a specific role in the program’s success. Businesses will be tasked with the presence of additional women in the workforce, equal pay and professional development. Other benefits included are extended maternity leave for either parent and subsidized childcare to offset barriers that will cause women to fall behind, lose their position or not enter the labor force.
Egypt’s government, which has invested more than $3 billion in this project, will incentivize strategies and track the program’s evolution. In addition, the legislature has the commitment of more than 90 businesses.
Objectives of the Accelerator
Closing the Gender Gap Accelerator’s mission has four objectives: eliminate the gender pay gap, ensure more women are promoted into business management roles, expand their growth in the workforce and make sure that women are poised to work in a society that is will be powered by the likes of digital technology and artificial intelligence along with robotics.
One of the co-chairs of the private sector for the Accelerator, the Commercial International Bank known as Qalaa Holdings, firmly believes in empowering women in the workplace and it has demonstrated that by having 25% of the company’s executive board and leadership positions filled by women.
While the Accelerator is focused on women’s success in the economy, it also takes into account how women are viewed in the male-dominated workforce. Creating a safe climate in companies is just as important so the unfair barometers that women are measured by have to be eliminated as well as dismantling the discriminatory behavior toward them.
Global Gender Equality
Egypt is one out of nine countries, and the first country in Africa to set in motion a project of this magnitude created by the WEF. After more than 10 years of researching global gender inequality issues, WEF realized that it would take nearly 100 years for political gender parity to be achieved. Women comprise 50% of the global population in most countries and to purposely exclude them from the equation would seriously compromise a society’s overall economic and societal impact worldwide.
WEF’s Accelerators to Close the Gender Gap
To combat this shortcoming, WEF created accelerators and issued a challenge to nations that want to close the economic gender gap. Public and private entities form accelerators to be inclusive of women in business, from job recruitment to job promotions and work on eliminating prejudice against them. Each country is on a three-year timetable (countries start date varies) and the WEF preserves the global structure of the project while the countries operate independently in the communities. So far, Iceland has seen the most success out of the nine participating countries, by consistently closing the gender parity gap for 11 consecutive years.
A Bright Future for Egyptian Women
The Accelerator is an important tool for addressing gender inequality in Egypt. This initiative is good news for the women of Egypt as it shows the country’s continuous commitment to removing societal hurdles that have unjustly smothered women’s attempts at succeeding in the economy and stifled their much-needed contribution to society.
-Kim L. Patterson