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Citigroup Admits It Pays Women 29% Less Than Men

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In a surprisingly transparent move, Citigroup revealed that female employees globally earn 29% less than their male counterparts, while U.S. minorities earn 7% less than non-minority employees.

Citigroup is the first U.S. bank to publish unadjusted pay gap figures, which the financial institution defined in a press release as “the difference in median total compensation when we don’t adjust for factors such as job function, level and geography.”

When adjusted to account for these factors, however, the bank said that women globally are paid 99% of what men are paid on average and there is no statistically significant difference between the earnings of U.S. minorities and non-minorities at Citi.

Yet women also remain underrepresented in the bank’s top ranks, Citi’s analysis found. Though women account for just over half of Citigroup’s workforce, they make up just 37% of senior positions between the assistant vice president level and the managing director level.

Still, Citigroup’s wage gap and gender imbalance is far from unique within the traditionally male-dominated banking sector. Women account for just 19% of C-suite positions in financial services, slightly lower than the 22% average for U.S. women overall, according to a McKinsey study.

This lack of upward mobility creates a self-perpetuating cycle, in which women find it difficult to advance because there are are fewer women in executive positions who can help them climb the ranks.

Citigroup disclosed its compensation data following pressure from activist shareholder Arjuna Capital, which filed a shareholder proposal asking the bank to report on its global median pay gap.

“This new level of transparency provides investors with baseline metrics to understand broad pay equity at the company,” said Arjuna managing partner Natasha Lamb, adding that investors view pay gap disclosures as “benchmarks to improved diversity in representation, and the performance benefits that diversity affords.”

Citigroup’s pay gap revelation reflects a growing push from investors for more diversity in companies’ leadership. Last year, BlackRock, the world’s largest asset manager, urged companies in which it invests to place at least two female directors on their boards.

Large investors like Vanguard and State Street Global Advisors have also led the charge for more diverse leadership among their respective portfolio companies.

“This is not simply just a good thing to do or corporate responsibility,” Lamb told Bloomberg last year, after Citigroup pledged to increase compensation for women and minorities in an effort to bridge pay gaps. “There really is a profit motive here as well in order to attract and retain top talent.”

Countless studies have quantified the benefits of diverse leadership and an inclusive workforce, highlighting increased innovation, strong financial performance and lower employee turnover.

For its part, Citigroup pledged to increase representation of women and U.S. minorities in higher-level roles. The company aims by the end of 2021 to hit 40% female representation globally at the assistant vice president through managing director levels and 8% for black U.S. employees.

Citigroup also said it is committed to narrowing the wage gap for both groups, admitting that the company has substantial work to do.

“This reiterates the importance of our goals to increase representation of women and U.S. minorities in senior and higher-paying roles at Citi,” Sara Wechter, Citigroup’s head of human resources, said in a release. “That is how we will reduce the difference in our raw pay gap numbers over time.”

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Health

Kenyan Hospital Opens Human Milk Bank – A Rarity In Sub-Saharan Africa

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Kenya’s first human milk bank has opened at Pumwani Maternity Hospital. Moina Spooner, from The Conversation Africa, spoke to the team spearheading APHRC’s research efforts in the establishment of Kenya’s first milk bank.

How long has it taken to open? What were the biggest obstacles?

The process of establishment of human milk banking in Kenya started in 2016. It was spearheaded by the NGO PATH, in partnership with APHRC and Kenya’s Ministry of Health, among other partners. It was rolled out in two phases.

During phase one we assessed people’s perceptions and acceptability of using donated human milk. We also looked at how feasible it would be to set a bank up. The results were encouraging. About 90% of participants were positive about it, 80% would donate their breast milk, and about 60% indicated that they would allow their children to be fed with donated human milk.

A committee was also set-up to provide oversight and guidance on human milk bank work in Kenya. They were sent to South Africa to learn more about the human milk banking process. Finally, local strategies were developed.

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We are now in phase two of the project: the establishment of a pilot human milk bank in Pumwani Maternity Hospital. This includes the launch of a research project which examines its feasibility, effectiveness, acceptability and aims to estimate the cost of establishing an actual human milk bank in Kenya.

There have been challenges. Being a new concept, there have been some logistical challenges, for instance some of the equipment wasn’t locally available so it took longer to get it all done and installed.

There have also been concerns by some community members and health workers over the safety and quality of the donor human milk.

However, we’ve had support from the government which has been critical in addressing the logistical challenges. Advocacy and communication activities are also being rolled out to create awareness on human milk banking and address any concerns.

What is a milk bank and how does it work?

Human milk banks are facilities that systematically collect, pasteurise, test, store, and distribute donated breast milk.

An effective system has many operational processes to ensure it provides safe, high quality donor milk. They start with screening and recruiting donors who must be healthy mothers with surplus milk beyond the needs of their own child’s. Donors must undergo health checks including tests that screen for HIV, syphilis, and hepatitis B and C. Diseases could be passed to children through breastmilk.

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Donors must then express milk in hygienic conditions, after which the milk is pasteurised. This involves heating the milk in a water bath at 62.5°c for 30 minutes followed by rapid cooling.

At the bank, the milk is frozen and stored at -20c. When needed, it’s thawed to room temperature and issued to children who don’t have access to their own mothers’ milk. A prescription by a qualified health professional is needed for this.

Why are they needed?

Although breastfeeding is the most natural and best way to feed infants, many babies may lack access to their mother’s milk. This could’ve happened for many reasons – maybe the mother is sick, hasn’t got enough breast milk or is dead.

From our formative research, 44% of newborns in urban health facilities were separated from their mothers for varying periods of time. This ranged from less than an hour to more than 6 hours and even days after birth. Of these infants, only 14% were fed on mother’s own milk during separation. 36% of the newborns weren’t fed on anything during this period and an additional 23% were fed on formula or cow’s milk.

When breastfeeding is not an option, the World Health Organisation (WHO) recommends donated human milk as a lifesaving alternative. Particularly for babies that were born early, have low birth weight, are orphaned, malnourished or are severely ill.

Evidence paints a very strong picture in favour of donated human milk over infant formula. It’s more effective in reducing the risk of disease and infections – like inflammatory bowel disease, leukemia and respiratory tract infections – in newborn babies and is better tolerated by babies that are born prematurely.

In the US and Brazil, the use of donated human milk was reported to reduce the length of hospital stay for sick infants and save on the cost of health care.

Given the benefits of using donated human milk over infant formula, the WHO has called for the global scale-up of human milk banks. These are expected to increase access to safe donor human milk.

Is this the first of many?

Although WHO recommends that the milk banks be set up, Kenya is just the second, after South Africa, to establish a human milk bank in sub-Saharan Africa – even though it is a pilot.

We hope that human milk banking will be scaled up in Kenya and the rest of sub-Saharan Africa, using the evidence we generate from our research.

-The Conversation

-Elizabeth Kimani-Murage; Research Scientist at the African Population and Health Research Center and Adjunct Assistant Professor, Brown University

-Milka Wanjohi, Taddese Zerfu, Esther Anono and Eva Kamande from the African Population and Health Research Center contributed to the writing of this article.

The Conversation

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Sport

Simidele Adeagbo: What I Learned From The Most Terrifying Winter Olympics Sport

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At the 2018 Winter Olympics in PyeongChang, South Korea, I became the first African and black woman to compete in the daring sport of Skeleton.


Skeleton, in which athletes hurl themselves on a sled, head first, down a frozen ice track at 80 miles per hour, is considered by some to be the most terrifying Winter Olympics sport. I never imagined I would find myself hurtling down an icy hill on a metal, carbon fiber tray of sorts with no brakes, safety belt or steering mechanism.

But when I discovered the sport about 100 days before the Olympics, I was motivated to take it up in hopes to inspire others, break barriers and shift the narrative around Africa on the world’s biggest stage. I ultimately changed the course of Olympic history and learned about the power of having a vision and pushing the limits to break into unknown spaces.

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At the beginning of my journey, I asked myself two very simple questions. ‘Why Not Me? And Why Not Now?’ I knew that someone had to make history as the first African woman to compete in the sport of Skeleton at the Winter Olympics and I didn’t see any reason why it couldn’t be me and it couldn’t be right then. Despite coming from Nigeria, a place with no ice or snow and having no prior knowledge of Skeleton, I had a vision to become the first African woman to compete in Olympic Skeleton.

We often hesitate to establish a vision for the things we want to do thinking that someone else will do it, while also waiting for a perfect time for it to be done. As best-selling author Mel Robbins notes in The 5 Second Rule, “If you have an instinct to act on a goal, you must physically move within five seconds or your brain will kill it.” Through my unconventional path, I learned how to keep my vision alive by taking action instantly.

As I pushed to break barriers, I also learned the value of embracing chaos and how to keep moving forward. In the sport of Skeleton, you’re on the edge of danger and control at any given time. This taught me to expect and appreciate the chaos that comes with life.

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Before every run, I take down the track, I have a game plan. But when navigating down massive twists and turns going at speeds faster than cars travel on the freeway, things don’t always go as planned.

Through my experiences on the Skeleton track, I’ve learned to embrace life’s chaotic, unplanned moments and adapt as needed along the way. In the same way, as I was beginning the sport, I would painfully bump into the walls on my way down the track. These are called “hits”. Hits slow you down and are to be avoided as much as possible. But in Skeleton, just as in life, hits are inevitable.

On this journey, I learned to take the hits, no matter how big or small and keep pushing forward.

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Finally, in Skeleton, flying down the track at crazy speeds, you have to make decisions in split seconds and the natural reaction is to panic. However, panicking is counterproductive as it causes the body to tense up and actually slows the sled down. Remaining cool, calm and collected is the best thing a Skeleton athlete can do.

With more time in the sport, I ultimately learned to trust my instincts, relax and enjoy the ride. Perhaps this is the most important lesson of all as this has become my personal ethos for achieving success in life.

By taking action instantly, embracing chaos and relentlessly pushing forward and relaxing and trusting our instincts, we can all apply these winning strategies for high performance in business and life. Who knew you could learn so much from the most terrifying Winter Olympics sport?

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Arts

Naomi Campbell Has Big Plans For Africa

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The globally-popular Naomi Campbell was in Durban, in South Africa’s KwaZulu-Natal, for the FORBES WOMAN AFRICA 2019 Leading Women Summit, to talk about her abiding interest and investment in the African continent.


As a supermodel who  has scaled stratospheric heights in fashion, Naomi Campbell has graced global runways and magazine covers, so when she came calling in Durban for a FORBES WOMAN AFRICA event, the anticipation was bigger than any cover shoot we have ever done.

For the 2019 Leading Women Summit held in the coastal South African city for the first time on International Women’s Day, the British-born supermodel, activist, philanthropist and cultural innovator exuded her signature grace and glamor in a sea-blue Marianne Fassler dress.   

In 2017, Campbell was named contributing editor of British Vogue by its  Editor-in-Chief, Edward Enninful.

When I complimented her March 2019 cover for British Vogue, she said, considerately: “I wish I could have brought you one, I could have grabbed a copy for you from the airport [in London] yesterday.”

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Campbell caught her break as a fashion model when she was just 15 years old, and has featured in advertising campaigns for luxury houses including Burberry, Prada, Dolce & Gabbana, Marc Jacobs, Louis Vuitton, Yves Saint Laurent and Valentino.

Beyond her work in fashion, she has used her celebrity for fundraising and non-profit initiatives across the globe. In 1997, South African President Nelson Mandela named Campbell an “honorary granddaughter” for her activism. She also now has a YouTube channel, Being Naomi.

Campbell aims to integrate African and international luxury markets “bringing storied retailers to countries such as Nigeria, South Africa and Morocco, as well as introducing African artists to global audiences”.

“The strongest woman I have met come from Africa,” she told an audience of 500 during an on-stage interview at the FORBES WOMAN AFRICA Leading Women Summit.

“There’s many great women. I was very blessed and lucky to meet Miriam Makeba when I came to South Africa. I didn’t know her story but it was just her presence. Then Winnie Mandela… I met many powerful and strong women with inner strength and I am very much attracted to women with strength. You learn from them, you take from them, you observe them and how they speak. I have always considered myself a work-in-progress.”

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She added: “For me, modeling has been a blessing in my life. I am very grateful. It led me to meet the most amazing people. Where I am at in my life today, is to use the almost 33 years that I have been in this business to help make awareness, to open the minds to the brands that I work with and have worked with all these years.

“They need to come to this continent, not just come in and out and take, but [invest] in the infrastructure and make a commitment to the communities in Africa.”

A day before the event, when FORBES AFRICA caught up with Campbell, and before settling down for our brief interview, she began with a disarming: “What do you think is a good restaurant to go to in Durban?”

“I am tired but excited,” she had laughed. More from the exclusive interview:

You have said that you are investing in communities and infrastructure in Africa. Can you tell us more about your Africa plans?

My plans are to start serving my industry, brands and the continent. And seeing that we are such big consumers [of brands] in the rest of the world, yet we don’t have it ourselves on the continent… And it’s what works in all businesses, like fashion, architecture and technology. We are big influencers so why don’t we have these things? It’s mind-blowing, so now is the time.

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You are working a lot with African designers?

I want to take them out into the western world and bring the western world in… so vice versa.

Are African designers in demand in the West?

Yes, because of the textiles. I don’t want to see that their textiles are copied and they don’t get credit for what they have done.

For me, the workmanship, the textiles, this is what we need to keep on the continent. We cannot allow other brands and designers from the West to come in and take your textiles.

What are some of your best memories of Nelson Mandela since your first meeting in 1993?

I have many great memories here in South Africa, and undoubtedly always with ‘grandad’, when he would send me out to the people, to different townships and villages and just put things in perspective for me.

Yes, I was coming from a fashion background, but I am a human being too and coming from a middleclass family, it’s something you feel to do, it’s not something anyone can push you to do. I am not sure what he saw in me and thought that I could do it, but I really love him and miss him.

Lending your celebrity to important causes, you have worked for global health, women’s rights etc… is there any passion project that you are working on right now?

My passion project is Africa. It is such a beautiful rich culture, with minerals and so many natural resources.

The narrative and perception also have to change. It is understood in the wrong way. 

All through your career, how have you managed to be so versatile across diverse industries?

There’s no plan to me, I just do what I feel. I [go with] gut instinct really of each thing I commit myself to doing, and I always follow through.

Where do you see yourself in five years?

Hopefully, in the continent of Africa.

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What’s it like being a contributing editor on British Vogue?

It’s great working with Edward Enniful and fun to be an editor. I travel anyway but I get to travel and interview people from all walks of life.

It’s interesting to hear other people’s lives, their experiences, strengths and their hopes to get them on their journey. It’s not really like interviews but more conversational.

What is the best part of being an African woman in the 21st century?

African women have always been extremely strong. On the African continent, people are really smart… I have always had high respect for them.

They are so smart and educated, and yet what do they do with it once they have got it, and this is where it needs to change.

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