Where are the women in Uganda’s boardrooms?

Dr. Maggie Kigozi sits on several corporate boards. Among others, she is a non-executive director at British American Tobacco and Crown Beverages.
Her rise in the corporate boardrooms is attributed to hard work, networking, influence, enterprise and success.
“As the executive director Uganda Investment Authority (UIA), I interfaced with many investors. Some of them realised my potential and that I could add value to their organisation,” she told Jobs and Career, adding that her experience both at UIA and as a successful businesswoman helped her infiltrate the male-dominated boardrooms. Her understanding of investment, trade and tax policies are of important value to the corporate organisation.
When she retired as the ED of UIA, companies came knocking on her door to take on board roles.
“There are more women who are qualified to sit on boards. They are just not being picked and it maybe that time that we demand for legislated quotas.”
Dr Kigozi was talking in reference to a new study by the African Development Bank – the first of its kind – which revealed that of the eight listed companies on the stock exchange, there was a female representation of 12.9 per cent. This figure is much less than the public sector female board representation that is at 30 per cent
The study, “Where are the inclusive boardrooms in Africa’s top listed companies?” places Stanbic Bank Uganda as the only company on the stock exchange that has more than two women on the board.
But what could be the problem?
On one hand, the study points out that boardroom appointments lack the hindsight on why diversity is important for an organisation. It also emphasises that since it is a male dominated area, men will pick men.
Mr Sam Owori, the CEO of the Uganda Institute of Corporate Governance, is quoted in the report as saying female participation in boardrooms confuses male directors.
“...Male directors are so used to seeing the business world with players who are like them, so noting that their boards must have female participation may seem puzzling to them,” he says.
Although Ugandan companies are not obliged to appoint women on their boards, as the law is vague on that issue, Dr Kigozi also notes that depending on the needs of a company, women will need specific skills if they are to make it to any board.
For example, at the time Ms Josephine Okot was picked by Stanbic Bank in 2011 to sit on its board, the bank was reviewing how it conducts business with agribusiness. Her experience in running a successful agricultural venture - Victoria Seeds - was an important pick for her appointment.

Ms. Barbara Mulwana, executive director, Nice House of Plastics and Ms Ruth Emunu are the other woman sitting on the Stanbic Bank board.
“The process of appointment of directors should be sensitive to gender representation,” reads Section 30 of the Capital Markets Corporate Governance Guidelines.
According to the AfDB report, these guidelines are not adequate enough to have more women in boardrooms.
“However, the guidelines do not have the force of law and only apply to the eight listed companies. There is no such language in their Companies Act by which all incorporated companies must abide, so privately-held companies have no governance guidelines by which to comply,” it reads.
It has been laboring work in progress to break the tradition that is perhaps a reflection of corporate organisations.
For instance, in the banking sector with 25 commercial banks, there are only two female CEO’s. In the telecom sector, one of the fastest growing, there is still no female chief executive. In the breweries, men head the two beer companies and two soft drinks companies.
Umeme, until the start of 2015 had no female representation on the board. They looked from within the company and picked Ms. Florence Nsubuga, the Chief Operations Officer.
Ms Nsubuga had just lost out on the Managing Director Job to Mr. Selestino Babungi. The board appointments committee noted that she was picked “after several years of extensive operational experience as a regional, area and district manager with Umeme and Uganda Electricity Distribution Company Limited.”
In 2011, DFCU bank recognised the need for female board members. It was during this period that the bank started a Women Advisory Council. This council consists of four women who advise the Board – but has no voting powers.
Dr. Winfred Kiryabwire, a member of this council, was in 2013 moved up to sit on the board. The bank notes that it is from this council that it can be able to fill any vacant position on the board without going through a long and painstaking search.
According to the report, a “better gender mix among senior management” can be linked to improved profitability of companies.

FEMALE BOARD MEMBERS

Umeme Florence N. Nsubuga Executive Director
Stanbic Ruth Emunu Non-executive Director.
Barbara Mulwana Non-executive Director
Josephine Ayugi Okot Non-executive director
Dfcu Dr. Winifred T. Kiryabwire- Non-Exec. director
Agnes Tibayeita Isharaza - Corporation Secretary
BATU Prof. Dr. Maggie Kigozi - Non-Executive Director
Uganda Clays Ms Agnes Kunihira- Non-executive Director
Vision Group Dr. Monica Chibita- Non-Executive Director
Ms. Grace Dwonga- Non-Executive Director

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