Inclusion of women in financial field key: IMF

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A recent study by the International Monetary Fund (IMF) has said the inclusion of women in the banking and financial field can contribute remarkably in enhancing economic growth and foster financial stability.

In a research paper titled ‘Women in Finance: An Economic Case for Gender Equality’ released this week, the IMF has revealed that elevation of women into powerful positions is likely to increase production and efficiency in finance and governance issues.

The study posits, women are more likely to be better risk managers than men stating that the discriminatory hiring practices usually produce women who are better qualified and more experienced than their male counterparts.

The study further cites that more women on boards contribute to diversity which leads to formulation of better decisions.

IMF also recommends that developing countries should always strive to strike gender balance and give room to women to contribute on financial issues.

The research resonates well with President Emmerson Mnangagwa’s vision of empowering women as evidenced by the emergence of the Women Empowerment Bank of Zimbabwe which offers visionary business minds with affordable loans to start their own projects.

President Mnangagwa’s cabinet is also reflective of gender balance with women like Cde Oppah Muchinguri-Kashiri occupying powerful government posts.

IMF further encourages women to apply for opportunities and challenge for posts in fields traditionally dominated by men.