Nairobi: The Kenya Institute of Management (KIM), in partnership with the Kenya Private Sector Alliance (KEPSA), Nairobi Securities Exchange (NSE), and New Faces, New Voices (NFNV), has launched the KIM Board Diversity, Equity, and Inclusion (DEI) Report 2024. This publication tracks diversity in boardrooms across organisations, highlighting progress, challenges, and opportunities in advancing DEI in leadership structures across various sectors.
According to Kenya News Agency, since 2012, KIM has consistently monitored boardroom diversity, focusing on gender representation and broader DEI principles. The 2024 findings provide critical insights into board composition, leadership demographics, and sectoral representation. The report reveals that women hold only 23 percent of board seats worldwide, with local female board representation declining slightly to 35 percent in 2024 from 36 percent in 2021. Leadership gaps persist, with women constituting only 32.3 percent of CEOs/MDs and 21.3 percent of board chairpersons.
The report also indicates that respondents represent a range of backgrounds, with a majority serving as managers, board directors, and executive leaders. Professionals in finance, business, academia, and legal fields are the most represented, reinforcing strategic governance capacity. 'Board members are predominantly 46 years and above, with 58.1 percent holding at least an undergraduate degree and 56.4 percent attaining postgraduate qualifications,' read the report.
Religious diversity remains an area for improvement, with 62 percent of board members identifying as Christians, highlighting the need for broader representation. While progress has been made, the findings underscore significant gaps that organisations must address, including: strengthening policies to promote gender balance at executive levels; enhancing efforts towards disability and ethnic diversity inclusion; encouraging younger professionals to join boards for multi-generational perspectives; and implementing sector-specific strategies to address unique DEI challenges.
As thought leaders in corporate governance and management, KIM reiterated its commitment to driving inclusive leadership through research, advocacy, and capacity-building programs. According to the institution, the report serves as a call to action for organisations to embrace and implement DEI best practices for sustainable business growth and equitable leadership representation. KIM urged corporate leaders, policymakers, and stakeholders to leverage these insights to build more inclusive boardrooms that reflect the diversity of Kenyan society, stressing that investment in DEI is not just a compliance issue but a strategic imperative for long-term success.