Latest news with #EconomicEmpowerment
Business Recorder
3 days ago
- Business
- Business Recorder
Wage employment, entrepreneurship: Pakistan faces significant gender gaps: World Bank
ISLAMABAD: Pakistan faces significant gender gaps in wage employment, entrepreneurship, and access to productive assets, with an estimated 47 million women are not in the labor force, and around 55 million unbanked, says the World Bank. The bank in its report, 'Women's Economic Empowerment in Pakistan: An Evidence Guided Toolkit for More Inclusive Policies,' stated that Pakistan faces a plethora of economic, human capital, political, and climate-related challenges. The role of women in addressing these challenges is crucial to Pakistan meeting its full potential for inclusive growth and competitiveness. Economy's growth model needs urgent overhaul: World Bank An estimated 47 million women are not in the labour force, and there are 55 million unbanked women. The gender gap in earnings in Pakistan stands at 18 percent. Employed women earn less than their men counterparts. This means that, for every Rs1,000 earned by an employed man, an employed woman earns Rs818. The gender gap in earnings has remained stable over the years, from around 40 percent in 1999 to 39 percent in 2017. However, recent data indicate there has been a significant narrowing of the gap, to 18 percent. This large reduction is driven by an increase in earnings among women and a dip in men's earnings. Improving gender equality in the economy and society thus appears to be a necessary path to addressing many of the country's development problems, such as the country's stagnating per capita income, human capitalcrisis, and the recent worrisome increase in poverty. Pakistani women need more visibility and autonomy in all spheres of the economy and society. Their legal rights lag those of their peers in other South Asian countries and are lower than the global average. The report noted that women in Pakistan face significant barriers to entry in the labour force, securing fair, higher wages, physically accessing markets to develop their businesses, accessing financial services, owning productive assets, especially land and other property, having an equal say over important day-to-day decisions, and living lives free of gender-based violence. Overcoming these and other like barriers requires solutions that go beyond one size fits all and, instead, focus on addressing problems by putting women and girls at the forefront of policy design. Women in Pakistan also contend with critical issues related to safety, mobility, agency, and restrictive social norms. The report provides an in-depth analysis of these disparities and introduces an evidence-based policy toolkit that prioritises actionable solutions drawn from global and regional evidence while highlighting areas that require further research. Utilising extensive micro data from national and regional surveys, it offers a comprehensive 20-year review of trends and insights into women's work and empowerment across multiple indicators, paving the way for targeted, data-driven policy interventions. Copyright Business Recorder, 2025
Associated Press
6 days ago
- Business
- Associated Press
South Africa denies bending the rules to give Musk's Starlink preferential treatment
JOHANNESBURG (AP) — South Africa's minister of communications on Tuesday denied accusations that a draft policy watering down Black ownership requirements for tech firms was not proposed to benefit the Starlink business of white South African-born tech billionaire Elon Musk. Under South African law, foreign-owned companies are required to sell 30% of their subsidiaries to shareholders who are Black, or from other racial groups disadvantaged under the apartheid system of white minority rule, in order to acquire a license. However, Communications Minister Solly Malatsi on Friday proposed easing the requirement, prompting criticism from various political parties. He put forward the directive days after South African President Cyril Ramaphosa met with U.S. President Donald Trump at the White House, when Trump made baseless claims that white South African farmers were being systematically killed. A senior lawmaker, Khusela Diko, questioned the timing of the directive and whether the country was bending over backwards to accommodate Musk's Starlink satellite telecoms business. On Tuesday Malatsi appeared before Parliament in Cape Town to defend the move and denied suggestions it was introduced specifically for Starlink. Lawmakers questioned whether the directives were correctly opening up the playing field for foreign players or tampering with the government's economic empowerment agenda by catering to Starlink. Musk has repeatedly denounced the Black ownership laws and said on social media that Starlink wasn't able to get a license to operate in South Africa because he was white. South African authorities say Starlink hasn't formally applied. Malatsi said the regulations would allow for more than one new operator to enter the market, boosting competition. 'We are not attempting to open a special dispensation for Starlink or any other company or an individual,' Malatsi told lawmakers, adding that work on the policy direction started around September, and was not prompted by the recent meeting between Trump and Ramaphosa. 'There is no conspiracy on our part with regard to this policy direction,' said the minister. Stakeholders, industry players and the public have been given 30 days to send in submissions and provide comment before the framework is finalized.
Jordan Times
18-05-2025
- Business
- Jordan Times
Senate president opens digital empowerment conference in Aqaba, highlights role of women
Senate President Faisal Fayez on Sunday inaugurates the 'Digitisation for Economic Empowerment in a Rapidly Changing World' conference in Aqaba (Petra photo) AMMAN — Senate President Faisal Fayez on Sunday inaugurated the 'Digitisation for Economic Empowerment in a Rapidly Changing World' conference in Aqaba, organised by the Pioneering Centre in partnership with the Arabia Centre for Entrepreneurship and Empowerment. The conference aimed to explore pathways for economic empowerment and entrepreneurship in the context of rapid digital transformation, the Jordan News Agency, Petra, reported. It also brought together entrepreneurs, business leaders, and experts from across the Arab world to exchange experiences, highlight success stories, and present innovative models for digital and economic growth. In his opening remarks, Fayez underscored the significant strides Jordan has made in advancing women's participation in economic, social, and political spheres, attributing the progress to the continuous support of His Majesty King Abdullah, who has long championed women's role in national development. 'Jordanian women have become active partners in society and a cornerstone of sustainable development,' Fayez said, noting that women in Jordan have achieved remarkable accomplishments across diverse fields and assumed leadership positions at national and international levels. He emphasised that Royal support has translated into legislative and regulatory reforms that uphold women's rights, strengthen their role in both the civil and military sectors, and ensure their inclusion in decision-making processes. "Reforms to municipal, parliamentary, and decentralisation laws have also institutionalised women's political participation by allocating quotas and providing affirmative measures to bolster their presence," he added. 'Today, Jordanian women serve as ministers, judges, ambassadors, parliamentarians, senators, military officers, and occupy senior leadership roles in local, regional, and international institutions.' Fayez also commended the transformation of Aqaba from a Royal vision into a national success story, citing the leadership of HRH Crown Prince Hussein in steering the city's development into a modern, future-ready hub on the Red Sea. On the subject of digital transformation, Fayez stressed that digitisation is no longer a luxury but a necessity for national progress. He highlighted its critical role in advancing women's economic empowerment by improving access to technology, digital education, and entrepreneurship opportunities, particularly in online platforms and small-scale personal ventures. The conference featured a series of discussions focused on women's entrepreneurship, digital inclusion, and the role of public and private sector institutions in enhancing women's participation in economic and social development.
IOL News
08-05-2025
- Business
- IOL News
Tshwane's unemployment crisis: Mayor Moya's vision for economic revitalisation
Mayor Nasiphi Moya wants to tackle youth unemployment through the Economic Revitalisation Strategy. Image: Supplied / City of Tshwane The City of Tshwane is facing a dire situation, with a staggering 37,8% unemployment rate, predominantly affecting young people. This was highlighted by Mayor Nasiphi Moya at the launch of ActionSA's initiative at the Apartheid Museum this week, aiming to reshape South Africa's economic agenda for lasting change. Despite the seemingly daunting challenge, Moya expressed confidence that the city's Economic Revitalisation Strategy can help reduce unemployment by growing the local economy to 3,9% by 2029. She highlighted widespread poverty, service backlogs, and neglect in certain regions, as well as the marginalisation of informal settlements and townships from growth centers and essential services. According to her, meaningful transformation requires tangible action in cities, making them more equitable, inclusive, and responsive to people's needs, rather than just relying on speeches and policy statements. Since taking office in November last year, she emphasised the need to build a city that serves everyone, not just the privileged few, requiring a fundamental shift in investment, budgeting, and measuring success. 'Central to this is the implementation of a bold yet practical Economic Revitalisation Strategy to grow Tshwane's economy to 3,9% by 2029. This strategy effectively gives expression to this party's call for truly Inclusive Economic Empowerment. A policy proposal that advocates for the inclusion of all people who have been left out of the economy since 1994 and before,' she said. Moya explained that the strategy is about creating jobs and restoring dignity, not just numbers on a spreadsheet. 'It is about people like a young woman from Hammanskraal, who dreams of finding work in a city that believes in her future,' she said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ The revitalisation strategy is built on six key pillars, which include investment attraction, infrastructure delivery, township and Small Micro Medium Enterprise development, innovation and skills, land and property activation and a more supportive regulatory environment Moya said: 'We are unlocking development corridors, fast-tracking high-impact projects, and putting city-owned assets to productive use – from Wonderboom Airport to the Tshwane Fresh Produce Market and the Rooiwal power station.' Her administration, she said, aims not only to attract investment but also to ensure it is distributed more equitably
