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Saturday, September 23, 2023

Corporate Governance Winners 2021 - Middle East & Africa Ethical BoardroomOrganisations in the Middle East and Africa have stepped up to the challenge of improving gender diversity in recent years, but challenges remain in attracting and retaining women to the workplace. 

According to a recent survey by global leadership community YPO, The Financial Times and the United Nations Women HeForShe programme, 71 per cent of respondents in the region said their organisations as a whole have increased gender diversity, compared to 57 per cent globally. But 32 per cent of them revealed they are also less likely to have females in their organisations (compared to 39 per cent in the rest of world). The report suggests the improvement in workplace gender diversity can be attributed to various regional and government initiatives adopted in relation to gender equality and women empowerment in the recent years.

The United Arab Emirates, home to Dubai and Abu Dhabi stock markets, has recently said it will require at least one female director on the boards of all listed companies, as part of its mission to boost gender diversity. To meet targets, the Central Bank of the UAE (CBUAE) has signed a memorandum of understanding with Aurora50, a social enterprise focusing on achieving gender-balanced boardrooms in the UAE. 

This partnership will advance female representation on public and private sector boards consistent with international best practice through knowledge exchange and building a strong pipeline of female talent. While women are present on the boards of 28 out of 110 listed companies in the UAE, they make up only 3.5 per cent of all board positions, according to data compiled by Aurora50. 

Leading Ladies Africa is a women-focused non-profit entity with a mission to promote gender inclusivity and diversity by increasing participation and representation of women of African origin in fields of leadership, business, politics and advocacy. Its vision is to foster at least 40 per cent female representation in business, politics, governance and enterprise across a broad range of sectors in Africa. Leading Ladies Africa recently developed a list with 50 of the leading African women who are making their mark in the corporate and business sector, spanning different industries in global conglomerates all over the world. 

In its third year, the top 50 list has evolved from being a Nigeria-centric one to an initiative that includes and encompasses the contributions other African women are making in the corporate sector.

Ethical Boardroom is proud to announce the winners of “Best Corporate Governance” in their respective industry sectors across the Middle East & Africa for 2021. The awards recognise the outstanding leadership from boards who have raised the bar to ensure that strong corporate governance plays an essential part in protecting and enhancing long-term value for all stakeholders. Our awards program is a vital part of our continuing mission to elevate corporate governance standards globally.

For those companies and individuals who have made it to the top of the mountain for 2021, we salute you for leading the way


Best Corporate Governance Industrial Services Alba
Best Corporate Governance Real Estate Aldar Properties
Best Corporate Governance Financial Services Banque Saudi Fransi
Best Corporate Governance Telecoms Du Telecom
Best Corporate Governance Holdings Savola Group
Best Corporate Governance Transportation & Logistics Aramex Company
Best Corporate Governance Investments Dubai Investments
Best Corporate Governance Food & Beverage Agthia Group



Outstanding Performance In Governance Real Estate Developer The Red Sea Development Company (TRSDC)



Best Corporate Governance Construction Materials  LaFarge Africa Plc
Best Corporate Governance Financial Services  Zenith Bank Plc
Best Corporate Governance Food & Beverage East African Breweries Limited  (EABL)
Best Corporate Governance Telecoms MTN Group Limited
Best Corporate Governance Holdings Liberty Holding Group

Please note that the company & special recognition winners for the The Americas region will be announced in the Issue 23 edition.