International Women’s Day is celebrated annually on March 8th and is a global day that celebrates the social, economic, cultural, and political achievements of women.
International Women’s Day 2023 is an opportunity to reflect on the progress that has been made in advancing gender equality and women’s rights over the past year. It is also a time to celebrate the achievements of women in various fields and to recognize the contributions of women to society.
International Women’s Day 2023 provides an opportunity to highlight the ongoing challenges and barriers that women continue to face, including gender-based violence, unequal access to education and healthcare, and limited economic and political opportunities. The day is a call to action for individuals, organizations, and governments to work towards gender equality and to create a more inclusive and equitable world for all.
International Women’s Day 2023’s theme is “embrace equity.” We will dive into equity in the workplace, in the fintech industry specifically, and discuss what you and your company can do to embrace it.
What is equity in the workplace?
Equity in the workplace refers to a work environment where all employees are treated fairly and without bias or discrimination. It means that individuals are given equal opportunities for growth, development, and advancement based on their merit and qualifications rather than their personal characteristics such as gender, race, ethnicity, religion, sexual orientation, or disability.
Equity also includes the fair distribution of resources and benefits, such as pay, benefits, promotions, and training opportunities. It ensures that everyone has access to the same resources and opportunities and is not excluded or disadvantaged because of their personal characteristics.
To achieve equity in the workplace, organizations need to examine their policies, practices, and culture to identify and address any biases or barriers that may prevent certain groups from accessing the same opportunities as others. This can involve measures such as diversity and inclusion training, implementing policies that ensure equal pay for equal work, providing flexible work arrangements, and creating a culture that values and respects diversity.
Where do we stand with equity in emerging markets?
Gender equality and equity in emerging markets
Gender equality is an important issue in emerging markets, as women in these countries often face significant barriers to achieving economic and social empowerment. These barriers can include limited access to education and healthcare, discriminatory social norms, and legal and institutional frameworks that limit women’s rights and opportunities.
Women’s economic participation in emerging markets has increased significantly over the past few decades. For example, in sub-Saharan Africa, the share of women in wage employment outside of agriculture increased from 15% in 1991 to 24% in 2019.
Despite this progress, women in emerging markets still face significant barriers to economic participation. For example, women are more likely than men to work in the informal sector, which often lacks labor protections and benefits. They are also more likely to work in low-paying, low-skilled jobs.
Overall, while there has been progress in promoting women’s equity in emerging markets, significant challenges remain. It is essential to continue to work towards creating policies and initiatives that promote women’s economic, political, and social empowerment in these markets.
PayU is operating directly in high-growth markets and has offices in 18 countries, including Nigeria, South Africa, Colombia, Argentina, and India.. It is a sustainable business, with a mission to create a world without financial borders. As such, one of its most important missions is to fight against discrimination in these countries, and help to promote financial inclusion. It integrates alternative payment methods into its local payment systems that serve underbanked and unbanked populations. Additionally, it offers equal job opportunities in those countries.