Investing in women’s future: The time for action is now
Sponsored by Jubilee Insurance
By Caroline Ndungu
On International Women’s Day, I had the privilege of joining a panel discussion on NTV under the theme, “Economic Empowerment: Women Driving Change and Shaping the Future”. It was an inspiring and thought-provoking conversation, highlighting both the progress made over the years and the challenges that still stand in the way of true economic empowerment for women.
Recently, I had the opportunity to interact with Zipporah Kittony and Dr Julia Ojiambo – two trailblazers who have been at the forefront of advancing women’s rights in Kenya. Their stories reminded me of how much progress we have made, yet also of how much more remains to be done. While there have been remarkable strides in gender equality, the reality remains that the pace of change is far too slow.
Over the past three decades, more women have risen to leadership positions, gained access to financial resources, and broken barriers in male-dominated industries. Policies promoting gender inclusion have been established, and organisations continue to commit to diversity and equity.
However, despite these advancements, gender parity remains distant. Women continue to be underrepresented in leadership roles and struggle to access capital. The World Economic Forum’s Global Gender Gap Report 2023 estimates that at the current pace, it will take 131 years to achieve full gender equality. More than a century is far too long to wait.
One of the most critical takeaways from the discussion was the realisation that policy alone is not enough to drive real change. While it is essential to have legal frameworks that protect and promote women’s economic rights, these policies must be enforced with tangible actions that ensure women are not just participants in the economy, but decision-makers shaping its future.
True progress requires accountability, not just promises. Companies need to move beyond statements on diversity and actively ensure that leadership positions reflect gender inclusivity. Pay structures must be fair and transparent, and workplaces should foster an environment where women can thrive without systemic barriers holding them back.
Technology is also a game-changer in enabling women to balance work and family without having to make difficult trade-offs. With virtual platforms and flexible work arrangements, women can contribute meaningfully to their workplaces while still attending to family responsibilities.
At Jubilee Insurance, we support working mothers, ensuring career growth does not compromise family well-being. A great example of this is our on-site crèche, which allows mothers to bring their children to work, ensuring they remain productive while having their little ones close by.
This initiative, combined with the flexibility offered by remote work technology, demonstrates how businesses can actively create environments where women do not have to choose between career progression and family life.
Another crucial aspect of the conversation centred on the power of collective action. No single institution can address gender inequality on its own. Financial inclusion, for instance, is not merely a banking issue; it is a societal concern that requires a coordinated effort. When financial institutions, insurance providers, and policymakers come together, they can create solutions that truly empower women.
At Jubilee Insurance, we recognise the importance of such partnerships. Among our initiatives, the Lipa Mdogo Mdogo model, developed in collaboration with Diamond Trust Bank, enables women to access health insurance through small, manageable payments, making financial security more attainable.
Similarly, our Maisha Fiti programme focuses on preventive healthcare, acknowledging that economic empowerment is closely linked to health security. These are just some of the partnerships we have established to drive meaningful change, ensuring that women can seize opportunities with confidence and resilience.
Access to capital remains one of the biggest challenges for women entrepreneurs. Many women-led businesses struggle to secure funding despite ample research showing that they deliver strong financial returns. Initiatives like FrontEnd Ventures, which prioritise investment in women-led enterprises, prove that backing women is not just a social good but a smart business decision. Women consistently reinvest in their families and communities, creating a ripple effect that fosters broader economic growth.
The conversation on women’s economic empowerment can no longer focus solely on why it matters. The evidence is clear: Empowering women leads to stronger economies, healthier communities, and more resilient societies. However, this is not a women-only issue. Men must be active allies in the push for gender equity. When men advocate for policies that support women, mentor and sponsor female colleagues, and challenge workplace biases, they contribute to an inclusive economy that benefits everyone. True equality is only achievable when all of society is invested in the change.
The real question now is: How will we accelerate progress? The answer lies in bold commitments, strategic partnerships, and unwavering accountability. The time for action is now, and the future of economic growth depends on it.
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Caroline Ndungu is the Group Head of Marketing and Corporate Communications at Jubilee Holdings