The Women in Business Committee of the American Chamber of Commerce (AmCham) in Egypt and the International Finance Corporation (IFC) have signed 12 agreements with major companies operating in Egypt to promote women’s empowerment and gender equality in economic activity, stimulate growth, and improve the quality of life.
During a seminar organized by AmCham and IFC on Monday, Walid Labadi, Director of IFC in Egypt, Libya, and Yemen, said they aim, through the Corporation’s various programmes, to improve women’s job opportunities in Egypt, in order to help private sector companies, and urge them to take advantage of women’s untapped potential, which motivates economic growth rates.
He explained that the equal participation of women and men in economic activity contributes to raising the GDP by 34%.
He pointed out that providing economic opportunities for women in Egypt is a strategic priority for the International Finance Corporation, stressing that private companies have begun to realize the potential of the female workforce to overcome skills shortages, which contributes to stimulating economic activity.
Manal Hussein, head of the Women in Business Committee at AmCham Egypt, said that women represent about 20.6% of the labour market in Egypt, while they represent about 50% of university graduates.
She indicated that there is continuous cooperation between the Committee and IFC to enhance the economic empowerment of women, noting that a cooperation agreement was signed between the two sides to support women’s economic and commercial activities, to ensure equal opportunities.