How Women Can Leverage Opportunities, Build Capacities To Enhance Inclusion, Diversity
Speakers and discussants at the recently concluded Guardian Woman Festival provided enormous insight on various ways women can maximise their potential and advance the cause of inclusion in society.
LAST weekend, the inaugural edition of Guardian Woman Festival gathered women from all walks of life to deliberate, network and seek means to embrace growth opportunities, have a mindset shift and build capacity to foster inclusion and diversity.
The two- day event was held at Federal Palace Hotel, Lagos, to commemorate the International Women’s Day with the theme, ‘ Inspire Inclusion’.
The festival began with a panel discussion on political inclusion. Moderated by Founder, Electher, Ibijoke Faborode, it focused on ‘ Investing in Women: Shaping National Development Through Gender Inclusion in Political Leadership and Public Governance.’
According to Faborode, the status quo that Nigeria has a socio- cultural dimension that is deeply entrenched in historical oversight needs to be addressed for the nation to see the desired change. To record progress on the conversation around gender issues, she stated that men have to contribute to the solutions, adding that the issue is a critical conversation that everyone should be involved in.
Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose- Medebem, explained that women should be involved in governance as they get more things done. She attributed the huge dose of unconscious bias as a major reason for lack of gender equity in governance. She cited a report by UN Women which said it would take 300 distant years to close the gender equality gap, hence the need to accelerate efforts. She also stressed on the need for women in governance to collaborate and create pathways for more women to come into the space.
For Member, Lagos state House of Assembly, Princess Omolara OyekanOlumegbon, gender equality or equity cannot be established without a legal framework. She lamented that the number of women elected into office in Nigeria stood at 4.4 per cent.
For the Senior Consultant and Nigeria Country Lead, Africa Practice, Agwu Ojowu, there has to be intense and specific measures to focus on women development. He stated that with more economically empowered women and more female representation, there would be clear economic and social benefits, harping on the need to give girls role models as a source of inspiration.
“Looking at financial inclusion, studies have shown that northern women are the most excluded. They are excluded from access to liability, which translates to lack of access to credits and financing, making them stuck in a reinforcing circle of poverty. Without an intentional policy or initiative, we would keep having such results,” he added.
Speaking during the panel session on ‘ Navigating Tough Economies, Driving Innovation and Embracing Inclusion’, Group Head, Partnerships and Integration, Wakanow, Bukola Olatunji, said amid struggles, women should make a resolution to thrive and offer their best, adding that they should be included in every sphere.
“Regardless of the hurdles, it gets better with determination. Have a goal and see to it that irrespective of how long it takes you, you must achieve it. Ensure that you leverage; seeing that your network is your net worth, maximise your social media spaces and join communities,” she said.
She added that women are detailed and passionate, which makes them good managers.
To the Founder, Heathtracka, Ifeoluwa Dare- Johnson, this is the best time to have women manage funds, stating that data has proven that they are better managers.
According to her, the female gender should not be afraid to re- invent themselves since they have the capacity to do so.
She stated that Heathtracka took advantage of the opportunity in the sector to create solutions as women’s health has been under- funded, under researched and underestimated.
Country Manager Nigeria, William Grant & Sons, Frances Nwosa, advised business owners to embrace flexibility while urging them to take a step back and look at short, medium and long- term strategies.
“It is important to include people who will come with different perspectives, ideas and thought processes because they drive productivity. Companies that are more inclusive have more productivity and those with more diversity and gender balance are 35 per cent more likely to succeed,” she added.
The Chief Economist and Head of Economic Research/ Intelligence at Coronation Merchant Bank, Chinwe Egwim, while speaking on ‘ Thriving In Uncertain Times’, said the impact of inflation is reduced purchasing power, rising interest rates, uncertainty and income redistribution. She, however, noted that downturn is a part of economic cycles, adding that to live above the current inflation, one needs to spend wisely, consider cheaper alternatives, explore ways to earn more money and save and invest aggressively.
During the panel session on ‘ Empowering Women: Financial Planning, Wealth Building and Investment Strategies’, Chief Executive Officer, Oleroladele. com, Oler Oladele, said it is not sustainable to take credits for wants, stressing that it is better to go into debts for assets because it would give more value in the future. She called on women to acquire knowledge on investment and risk management, while urging mothers to embrace support systems and negotiations.
“For investments, the question is: What is the value proposition? Will people pay for it? How much are they willing to invest in your products?” she said.
CFA Associate Director, Head, Family Office and Private Client, KPMG, Ope Oduwole, urged women to build liquidity, structure and pivot their business models to suit the market. She advised women to know their money personality and deal with their insecurities while explaining that mindset of wealth and value to create wealth are the two sides of prosperity.
For the Founder, Fintribe, Jennifer Awirigwe, women should upscale, cut down on debt and invest, explaining that investment is not just for the rich but a tool to grow financially. She noted that women make mistakes in having a mindset that money is for men and indulging in lifestyle inflation.
Business Promotion Officer, Embassy of Sweden in Abuja, Sara Ibru, said Sweden was able to turn its economic tides by leveraging exports and involving women almost at an equal level in politics and business. She added that Sweden has three crucial areas for female inclusion, namely, human rights, access to resources and representation.
The panel on ‘ Profit with a Purpose: Pioneering Social Enterprise for Inclusive Growth’, had the Founder, Chess In Slums Africa, Tunde Onakoya, who said that empathy is the bedrock of social enterprise.
Onakoya also noted that the real gap is in access to opportunities as talent is universal but opportunities are not.
The Founder and Producer, Simone’s Oasis, Tonye Faloughi- Ekezie, said social enterprise should be driven by the desire to solve a problem, adding that passion not income should be the impulsion.
At the panel on board inclusion titled, ‘ Breaking Barriers: Path To Creating Inclusive Boards’, Non- Executive Director, Ftse 50, Ngozi Edozien, said diversity on boards allows firms to make better decisions as women have a different way of approaching situations compared to men. She added that female diversity has been shown to have a positive impact on financial performance, risk management and ability to attract and retain the right talent.
Executive Director, WIMBIZ, Hansatu Adegbite, noted that for women to get on boards, they should identify the network in the industry they belong to and join any association within the context of their core areas of expertise because most decision makers are in that network. “Volunteer when you join; don’t be invisible, build capacity,” she advised.
Also speaking, Human Settlement Officer, UN Habitat, Dr. Omoayena Odunbaku, advised young girls to conceptualise and work towards their goals, adding that women should make themselves available to be mentored.
The day one of the festival peaked with a fireside chat focused on ‘ Passing the Torch; Navigating Generational Businesses in Nigeria - A Daughter’s ( Genz) Perspective’, where Guardian Woman Festival Creator and Chief Strategy Officer ( CSO) Global, The Guardian, Anita Ibru, and MD, Dunhill Ventures, Natalie Torin, said infrastructure such as energy and security are needed to harness local tourism. They urged female professionals and entrepreneurs to maintain a positive mindset, offer best services and thrive wherever they are. While noting the importance of normalising equal opportunity in families, they affirmed that as long as there are a set of rules, structures, enabling environment and document that allow succession, challenges would be averted, adding that emotions should be excluded in dealing with such firms and it should be seen as a business.
On day two of the festival, the panel sessions focused on ‘ Leveraging Strength in Femininity for Success’ was moderated by the Head of Operation, Nomba, Zainab Alabi.
Speaking, the General Manager, Lagos State Residents Registration Agency ( LASRAA), and Founder, Wecyclers, Bilikiss Adebiyi- Abiola, noted: “I had to tap into my alpha- female - to be assertive, pushful and confrontational - to be successful as a leader when I started my own company. This side is often not well received by people but the truth is that’s really the side we have to tap into if we want to get results.”
Actor and radio host, Folu Storms, said: “Team sports help you deal with people and teaches you to work with people to achieve your goal. I find that because men play a lot of team sports, they are naturally in- tune with working as a team. Men will therefore often do sports such as football and basketball once a week as a standard.