Developing the nairobi securities exchange gender equality index

Background and Context
The Nairobi Securities Exchange (NSE), in
partnership with the International Finance Corporation (IFC), seeks to develop
a comprehensive Gender Equality Index for NSE-listed companies. This initiative
is anchored in both institutions' commitment to Sustainable Development Goal 5
on gender equality and forms part of IFC's broader Women's Economic Inclusion
Program in Kenya. Kenya's corporate leadership landscape reflects meaningful
but insufficient progress on gender diversity. Women occupy 27.7% of board seats
and 39% of C-suite positions among NSE-listed companies, falling short of the
one-third board representation target set for 2027. Gender metrics remain
inconsistently tracked, and public reporting on pay equity, promotion rates,
and attrition disaggregated by gender is limited across the market. There is a
clear need for a standardized, market-based mechanism that creates
transparency, drives accountability, and incentivizes private sector action on
gender equality. The NSE Gender Equality Index will serve as that mechanism a
financial index that evaluates, benchmarks, and monitors gender diversity and
inclusion among NSE-listed companies, and that positions Kenya's capital
markets as a credible destination for gender-lens and ESG-aligned investment.  The project seeks to:
Raise awareness among NSE-listed
companies and broader private sector stakeholders about the benefits of
gender diversity in corporate leadership, including the evidence linking
diverse leadership to improved firm performance, risk management, and
long-term competitiveness.
Enhance gender-sensitive corporate
governance frameworks by engaging regulators, stock exchange authorities,
and industry bodies to strengthen disclosure requirements, board
nomination practices, and accountability mechanisms related to gender
diversity.
Support private sector companies in
adopting inclusive leadership practices by providing tailored tools,
guidance, and peer learning opportunities that enable firms to identify
barriers, set targets, and implement policies that advance women into
senior and board-level roles.
Objectives of this Assignment
The development of the NSE Gender Equality Index seeks
to:
Establish a robust, evidence-based financial index that evaluates
and tracks gender diversity and inclusion performance among NSE-listed
companies over time.
Provide a credible benchmarking tool that enables companies,
investors, regulators, and policymakers to assess progress on gender
equality in Kenya's corporate sector.
Catalyze corporate action by creating transparent, publicly
available rankings that incentivize NSE-listed firms to adopt
gender-inclusive governance policies and set measurable diversity targets.
Enable gender-lens investing by providing asset managers, pension
funds, endowments, and other institutional investors with a reliable
instrument for aligning capital allocation with ESG and social
responsibility objectives.
Support
evidence-based policymaking by generating standardized gender data that
helps identify where gaps are most acute and where regulatory or policy
interventions are most needed.
Position the
NSE as a proactive leader in sustainable finance, strengthening its appeal
to domestic and international investors who prioritize the social
dimension of ESG criteria.