Egypt concerted efforts to promote women’s economic empowerment and gender equality in the private sector. By implementing these initiatives, Egypt is taking a significant stride towards harnessing the immense potential of its female workforce and fostering a business environment that values and supports gender equality.
The Egyptian Gender Equity Seal is an important policy initiative that aligns with the gender equality model developed by the World Bank. It aims to enhance gender equality within various companies and promote a fair and inclusive labor market.
In a significant step towards promoting women’s economic empowerment and gender equality in Egypt, the country has initiated the “Economic and Social Empowerment of Women” project. The project aims to design market-based solutions that empower women economically and enhance measures to prevent violence against them, ultimately increasing their participation in the labor market.
As part of this project, a specialized training program was successfully implemented in 2023. The program focused on accrediting auditors to integrate and incorporate gender equality perspectives within the private sector. Multiple batches of auditors have graduated from this comprehensive training program, equipped with the necessary knowledge and skills to effectively address gender equality issues in the corporate world.
Additionally, a dedicated training program was conducted to train trainers and prepare ambassadors for financial literacy initiatives. These ambassadors, hailing from various private sector companies, have played a pivotal role in raising awareness and educating 828 female workers during the first half of 2023. Their efforts have contributed to empowering women economically and enhancing their financial knowledge and independence.
To further institutionalize these initiatives, specialized comprehensive units for economic models are being established within the National Council for Women. These units will serve as key drivers in developing and implementing effective strategies that promote women’s economic empowerment and gender equality.
The “Egyptian Gender Equity Seal (EGES) and Gap Closure Incentive Unit” has been established at the headquarters of the National Council for Women. This unit will focus on building capacities and supporting companies in creating an inclusive work environment that fosters the integration of women into the labor market. By providing guidance and incentives, the unit will encourage private sector organizations to adopt policies and practices that promote gender equality.
The journey towards achieving gender equality and women’s empowerment in Egypt began in 2021 when the country launched the Gender Equality Model, localized within the Egyptian context. This model paved the way for the establishment of the Egyptian Gender Equity Seal, which now operates under the auspices of the Women’s Skills Development Management at the National Council for Women.
The Financial Regulatory Authority, in line with the United Nations’ principles of women’s empowerment, actively encourages non-banking financial institutions to embrace similar principles and commit to promoting women’s empowerment.
One of the key features of the Equity Seal is its accessibility for institutions of all sizes. Regardless of whether an institution employs 20 or 20,000 individuals, the Equity Seal evaluates each organization based on its unique context. This evaluation process enables institutions to develop tailored plans that are realistic, achievable, and specifically catered to their needs. Moreover, the Equity Seal facilitates the review of policies, procedures, and operations, ultimately leading to the discovery of hidden potentials and the identification of areas for improvement. The validity of the Equity Seal is for three years, after which companies undergo a review process to ensure continuous progress.
In a promising development, 24 new institutions have recently signed a letter of intent to embark on the auditing and review process of their internal policies. These institutions are committed to ensuring the full implementation of women’s equality within their organizations, with the ultimate goal of obtaining the prestigious Equity Seal.
