The bells are ringing at many a stock exchange across the world, but this is not for the opening or closing of the trading floor. This is for gender equality.

In commemoration of the International Women’s Day, the Nairobi Securities Exchange (NSE) took part in a global  initiative dubbed Ring the Bell for Gender Equality.

The event is aimed at raising awareness of the importance of gender equality to both business growth and sustainable economic development.

NSE partnered with the International Finance Corporation (IFC), the UN Sustainable Stock Exchanges (SSE) Initiative, UN Global Compact and UN Women for the ceremony.

The NSE chief executive  Geoffrey Odundo said the bourse is committed to enhancing and spearheading gender equality for growth and development of various enterprises in Kenya.

“We will work with various market players to ensure highest levels of gender parity are upheld in line with our commitment to the Women Empowerment Principles (WEPs),” he said.

Read: Gender debate wave is also sweeping through business

Now in its fifth edition globally, the Ring the Bell for Gender Equality initiative in Kenya culminated with a full day executive training that brought together over 80 women in senior management positions in various companies in Kenya.

“Empowering women therefore is not only the right thing to do but it is also the smart thing to do.”

The training dubbed, Future Women CEOs and Board Members, is aimed at growing the number of women in corporate leadership in Kenya through capacity building.

Global Compact Kenya Executive Director Judy Njino said Kenya’s growth will never be assured in the absence of gender equality, and businesses have a pivotal role to play.

“As we celebrate International Women’s Day, we are reminded yet again of the challenges women face at the workplace, marketplace and communities, even as evidence mounts on the positive impact of gender equality in society,” she added.

A record breaking 85 stock exchanges in the world are expected to participate in this year’s Ring the Bell for Gender Equality, according to the SSE website. Running from between March 6 and March 14, the number of bourses this year is set to break last year’s 65 exchanges.

Stefan Handoyo, Corporate Governance Program Lead, International Finance Corporation (IFC) Kenya – World Bank said, “‘‘Gender equality is linked to sustainable development and is vital to the realization of increased prosperity in society.”

“Empowering women therefore is not only the right thing to do but it is also the smart thing to do.”

See Also: Kenya outranks Rwanda in women workplace equality index