Centum Investment Company Plc has recently announced a significant achievement in its gender equality efforts.
In their latest annual report, the company proudly revealed that they have successfully eliminated the gender pay gap within their organization.
This milestone places Centum Investment Company among the notable Nairobi Securities Exchange (NSE)-listed firms that have chosen to be transparent about their gender wage disparities.
Equity Group and BAT Kenya are among the other prominent companies that have disclosed their gender pay gaps, shedding light on the disparity in earnings between male and female employees.
While these companies are taking steps to address this issue, Centum Investment Company has taken a decisive stance by stating in its annual report that its compensation policies are designed to treat both male and female employees equally.
Equity Group, for instance, openly acknowledged that, on average, their female employees earn 52 percent less than their male counterparts.
In contrast, female staff at BAT Kenya enjoy higher earnings than their male counterparts across various job categories within the company.
The practice of publicly disclosing gender pay gaps is becoming increasingly prevalent among companies listed on the NSE.
This transparency aligns with broader efforts to report on environmental, social, and governance (ESG) performance, with the gender pay gap emerging as a significant focus area.
Shareholders and financiers are playing a pivotal role in encouraging companies to address this issue and create a more equitable workplace.
They recognize the importance of not only generating returns for investors but also positively impacting society. This trend is in line with the global movement toward gender equality and pay equity.
A 2019 report by Equileap, a diversity and inclusion data firm, highlighted that, on average, women in Kenya earned 32 percent less than their male counterparts, a figure below the global average.
The commitment to closing this gender pay gap is a significant step forward in advancing gender equality in the workplace.
