Office of the National Investment Council has joined the Generation Female Global Summit 2021

On October 1, Office of the National Investment Council has contributed and joined the Generation Female Global Summit 2021 that gathers a diverse range of current and future international women leaders, with the aim to champion leadership development and empower the next generation of leadership.

Olga Magaletska, Head of the Office of the National Investment Council, as speaker took part in the first day of the summit and speak about empowering women in business and entrepreneurship.

She noted that women make up almost half of Ukraine’s working population, but they hold the highest positions in only 27% of private enterprises. The proportion of female managers decreases with an increase in the size of the enterprise. Nevertheless, according to the results of the first quarter of 2021, the gender wage gap reached the lowest level in history and amounted to 18%. The Ministry of Economy of Ukraine has developed drafts of the National Strategy to further reduce the gap by 2023.

The Head of the Office of the National Investment Council also stressed that in the current convocation of the Ukrainian parliament there are only 20.6% (87) of women: “This year Ukraine celebrates 30 years of independence. During this time, Ukraine had six presidents and not a single woman on this post. Eighteen women headed the government and only one person out of 18 prime ministers was a woman. In the first convocation of the Ukrainian parliament, there were 2.5% (12) women. In the current one - 20.6% (87). Yes, we see that the situation is changing. For almost 30 years, women have "grown" in the parliament of Ukraine 8 times. However, with such dynamics, we will need another 30 years for the number of women in the Verkhovna Rada to become as many as men”, - Olga Magaletska said.

She also said that globally the share of women in senior management is increasing incrementally. In 2020, the proportion of women in senior management roles globally grew to 30%, the highest number ever recorded. Eighty-seven percent of global mid-market companies have at least one woman in a senior management role in 2020.

“More and more international institutions, like International Monetary Fund, European Central Bank, European Bank for Reconstruction and Development, World Trade Organization are headed by women.  Among the largest publicly listed companies in the European Union in 2020, only 19.3% of executives and 7.9% of CEOs are women. Despite a record-high number of fortune 500 women CEOs in 2020, there are still nearly 13 companies run by a man for every company run by a woman. Thus, we see that the situation in the world is gradually changing for the better and the holding of such summits only contributes to this. All together, we can change discriminatory social norms and gender stereotypes” – Olga Magaletska summed up.

© 2020 Office of the National Investment Council of Ukraine