At the launch of PwC Ghana's Gender Diversity Banking Report, experts urged concerted efforts and effective collaboration among stakeholders to elevate the presence of women in leadership roles within the banking industry.

Titled "Changing Currency: Examining Trends and Challenges of Female Participation in Ghana’s Banking Sector," the comprehensive report, compiled from a survey conducted over four months, delves into the experiences and perspectives of women in Ghana's banking sector.

The survey specifically targets females in senior management positions and female board members. Through interviews conducted across 13 banks in Ghana, PwC aims to identify the various factors hindering women's career advancement while also analyzing the factors that propel them in the industry.

Key findings from the report reveal that many female executives feel that banks prioritize diversity and inclusion as secondary concerns, overlooking their pivotal role in driving progress and fortifying organizational resilience.

Furthermore, establishing a healthy work-life balance affects women across all levels within bank hierarchies, with particular emphasis on the scarcity of female representation in upper management, where the stakes are high.

Industry-wide initiatives and partnerships are seen as opportunities to provide enhanced education and collaboration avenues for women in banking.

Andrea Dwamenah, a Manager at PwC who presented the key findings, stated that interviews were conducted with 26 individuals, mostly women in senior management positions, and Human Resources Executives, to gain a comprehensive understanding of the banks' stance on diversity, inclusion, and work-life balance, among other factors.

The report aims to delve deeper into the reasons behind the disparity in the number of men compared to women in top positions, providing insights into the financial services industry.

Dwamenah highlighted the desire among women in the industry for networking opportunities, mentorship from women in other banks, and knowledge sharing to foster professional growth and development.

Addressing other obstacles to female representation in senior positions, Dwamenah mentioned women's self-doubt, skepticism from colleagues, family objections, and societal expectations. She also noted the issue of sexual harassment within the Ghanaian banking sector, emphasizing the importance of addressing and combating it effectively.

Dwamena expressed her anticipation that the report would spark discussions, even uncomfortable ones, as they are crucial and necessary to address.

"And I expect it to be a long discourse. I don’t want it to be spoken about once and then goes away," she said.

The Changing Currency report highlights the pivotal role women play in advancing Ghana’s banking sector and sheds light on the avenues they must go through to be fully engaged stakeholders in the industry,” Clara Amarteifio-Taylor Partner and Inclusion & Diversity Leader, stated. “It is my hope that through the report, more women feel empowered to push themselves to excel within the sector.”

“Conducting a study on female participation in Ghana’s banking sector was essential,” Vish Ashiagbor, Country Senior Partner, remarked. “By gaining a deeper understanding of the challenges and opportunities women face in the financial services industry, we enhance our ability to provide tailored solutions that drive positive change.”

The launch event attracted a distinguished audience of senior executives from across Ghana’s banking sector. It featured insightful panel discussions with esteemed industry leaders, including Dr. Cynthia Forson, Board Member at CalBank; John Awuah, CEO and President of the Ghana Association of Bankers, and Pearl Nkrumah, Executive Director at Access Bank.