UAE Leads GCC in Women's Board Representation, Report Reveals

The UAE is leading the Gulf Cooperation Council (GCC) region in women's representation on the boards of publicly traded companies, according to the newly released GCC Board Gender Index Report 2024.

The report, a collaboration between Heriot-Watt University and Aurora50, provides a comprehensive data set on the gender composition of company boards across the GCC.

The UAE boasts the highest percentage of women holding board seats in the region, with 10.8% or 133 out of 1,231 board positions in 168 listed companies on the Abu Dhabi Securities Exchange and Dubai Financial Market. However, this figure still lags behind the global average of 26% reported by MSCI.

Why this matters: The underrepresentation of women on company boards has significant implications for the economy and society, as it can lead to a lack of diverse perspectives and ideas. The underrepresentation of women on company boards has significant implications for the economy and society, as it can lead to a lack of diverse perspectives and ideas. Increasing the number of women in leadership roles can contribute to more inclusive and effective decision-making, driving business growth and social progress simultaneously.

Across the GCC, women hold a mere 5.2% of the 5,591 board seats in 752 publicly listed companies. Qatar has the lowest percentage of women on company boards at 1.8%, followed closely by Saudi Arabia at 2%. The utilities sector leads with the highest percentage of female board members at 8%, while the IT sector ranks among the worst, with women making up just 1.8% of company boards.

Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, co-founder of Aurora50, emphasizes the importance of diverse leadership, stating, "A diverse board helps create a diverse, inclusive organisation: diversity creates impact for the organisation, industry and society. The need for a pipeline of female talent, from managers to senior leaders to board directors, becomes increasingly clear."

The report serves as a call to action for entities across the GCC, including government bodies, academic institutions, and businesses, to increase the pipeline of qualified women for leadership roles. Maryam Butti Al Suwaidi, CEO of the Securities and Commodities Authority, believes the report will"contribute to raising awareness about and promoting the benefits of gender diversity in the GCC region, while also increasing participation of women in senior roles across the region."

The GCC Board Gender Index Report 2024 was published against the backdrop of the World Economic Forum's annual gender gap report in 2023, which showed that the Middle East and North Africa remained the region furthest away from gender parity, with full regional parity expected to be attained only in 2156. Professor Dame Heather McGregor, Provost and Vice Principal of Heriot-Watt University Dubai, who has conducted academic research into gender balance on public company boards for several years, was eager to continue this work in the GCC region.

The report emphasizes the importance of transparency, providing a centralized and accessible data source to facilitate comparisons across companies and countries. GCC countries continue to make strides in women's empowerment and gender equality, the GCC Board Gender Index Report 2024 serves as a valuable benchmark to track progress and identify areas for improvement.

While the UAE leads the region in women's board representation, there is still significant room for growth across all GCC nations to harness the full potential of their female talent and achieve more diverse and inclusive leadership.

Key Takeaways

• The UAE is leading the GCC region with 10.8% of women holding board seats in publicly traded companies.
• Women hold only 5.2% of board seats across the GCC, with Qatar and Saudi Arabia having the lowest representation.
• Diverse leadership can drive business growth and social progress, emphasizing the need for more women in leadership roles.
• The utilities sector has the highest percentage of female board members at 8%, while the IT sector has the lowest at 1.8%.
• The report calls for increased efforts to create a pipeline of qualified women for leadership roles across the GCC region.