Banking sector employs more women than men

A recent report by the Uganda Bankers’ Association (UBA) sheds light on the gender distribution within the banking sector.

The findings reveal that women constitute the majority of employees, indicating a significant shift that has been supported by affirmative action programs over the years, the Daily Monitor reports.

As of December 2022, out of the total 19,362 employees in the sector, approximately 52 percent, equivalent to 9,984 individuals, are women, while men make up 48 percent, totaling 9,378 employees.

However, the report highlights a shift in the percentage of women employees as seniority levels increase. In middle management, the gender distribution is nearly equal between females and males.

At the executive director level, the proportion of women drops to 34 percent, considerably lower than the 66 percent representation of men. By December 2022, there were 103 female executive directors compared to 197 male executive directors.

UBA, which serves as an umbrella association for the banking sector, encompasses 36 financial institutions, most of which have a substantial number of women employees.

Nonetheless, the report reveals that men dominate executive director positions, with 76 percent (50 individuals) being male and only 24 percent (16 individuals) being female. Additionally, among the 36 financial institutions, only eight have women occupying the positions of chief executive officer or managing director.

Among the banks with a significant representation of women staff, Brac stands out with a workforce of 1,915 employees, comprising 1,574 females and 341 males. Other banks such as Absa, Stanbic, and dfcu Bank also have notable numbers of women employees.

However, it is important to note that gender dominance is not consistent across all financial institutions.

Some institutions, including Centenary Bank, Post Bank, Pride Micro Finance, Uganda Development Bank, and Equity, are still predominantly staffed by men.

For example, Centenary Bank, employing 3,003 people, has a slightly higher number of male employees (1,529) than female employees (1,411). Similarly, Post Bank has 1,115 male employees compared to 487 female employees, and Pride Micro Finance has 632 male employees compared to 361 female employees.

Mr. Wilbrod Owor, the Executive Director of UBA, commented on these statistics, suggesting that they may indicate the positive outcomes of affirmative action programs implemented over the years.

He further mentioned that the upcoming banking sector-led women economic empowerment initiative, in addition to government policies promoting gender equity in employment, is expected to further enhance these trends.

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Women in banking vs men