Breaking Barriers 2024: Women in finance have made great strides, but what's next?

Published on
August 15, 2024
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I clearly remember the most iconic moment of the 2015 Golden Globes Amy Poehler and Tina Fey hosted.

"George Clooney married Amal Alamuddin this year," said Tina.

"Amal is a human rights lawyer who worked on the Enron case, was an adviser to Kofi Annan regarding Syria, and was selected to a three-person U.N. commission investigating rules of war violations in the Gaza Strip,"

As far as we have come, it's a long way to go before we start seeing change for women in finance (Photo: Tim Mossholder)

"So tonight, her husband is getting a lifetime achievement award."

While many laughed, remarking from the brilliance joke, it reminded me of how much harder it is for women to be recognized as achievers than men.

As we approach Women's Day here in South Africa, I reflect on my career, especially my fellow women in the world of finance.

While significant strides have been made in empowering women, especially in the fields of sport and acting, there is still much to be done to get women around a boardroom table, make decisions, and gain recognition for their contribution to the world of finance.

Women's journey in the business world has been long and challenging.

From being employed only as secretaries, receptionists, and support staff, women have progressed to leadership roles in recent decades citing societal changes, including the women's rights movements and increasing access to higher education.

In the 20th century, trailblazers like Katharine Graham, who led The Washington Post Company, and Estee Lauder, the co-founder of the cosmetics company bearing her name, changed the face of business and set precedents for women in business.

Their success stories inspired future generations of women to pursue careers in business and aspire to leadership roles. Leaders like Indra Nooyi, former CEO of PepsiCo, and Mary Barra, CEO of General Motors, exemplified women's growing influence in corporate leadership.

However, while progress has been made, the challenges remain.

Women in business often face issues such as unconscious biases, unequal pay, and a lack of representation in many sectors.

Here in South Africa, we are slowly making progress in recognizing and making space for women in the corporate world. However, the Boardroom doors still need to be pushed through.

Per PwC's Executive Directors Report 2022, only 8% of CEOs and 22% of CFOs are female across all companies on the JSE, while most executives (85%) are male.

Recognizing women in the business world is not just a matter of equality but a strategic advantage for any business. As more companies embrace gender diversity and inclusivity, the business landscape will continue to evolve, becoming more innovative, equitable, and reflective of our diverse world.

Whilst women remain outnumbered in most boardrooms across South Africa, Accensis, our a small firm with a progressive attitude, has made strides in empowering women and giving them the majority of the seats around the firm's boardroom table.

Our management team includes six women, all of colour.

Our staff complement is 67% female, most of whom are trainees studying towards a professional qualification or who already hold a financial degree.

The women of Accensis make up a beautiful tapestry of dynamic, intelligent, hard-working individuals who come together every day to provide our clients with the best advice and service in an industry still dominated by men.

To the women of Accensis and across South Africa: my message for this Women's Month is to keep shining brightly, be brave but never rude, be confident but never arrogant, and uplift yourself and those women around you to the greatest of heights.

Celebrate your achievements and continue striving for your goals.

May you shatter those glass ceilings and knock down those boardroom doors!