Highlights
- The property sector is at a turning point in terms of gender equity
- Riyaad Khan, Co-Head of Real Estate Investment Banking at RMB noted that the property sector has reached a turning point in terms of gender equity
- True transformation requires intentional equity
Rand Merchant Bank’s Drive Towards Gender Equity in the Property Sector
The real estate sector, traditionally dominated by men, is experiencing a transformative shift towards gender equity, thanks in part to pioneering initiatives by industry leaders. Rand Merchant Bank’s Real Estate Investment Banking (REIB) team took a significant step forward in this movement by hosting a key event aimed at promoting gender inclusivity within the property sector.
A Pivotal Gathering for Change
The recent event orchestrated by REIB brought together a myriad of stakeholders including entrepreneurs, property investors, and developers. The primary goal was to discuss the essential elements necessary for success and the importance of creating an inclusive environment that nurtures the development of women in property. By underscoring the shared responsibilities of both men and women, the gathering served as an important reminder of the work still needed to achieve true gender equity.
Challenges and Opportunities in the Sector
Despite a noticeable shift towards equity, the property sector still confronts significant challenges. As highlighted by Thuli Mphuntshe, National Chair of the Women’s Property Network, women remain underrepresented in commercial real estate boardrooms, which underscores a lack of transformation within the industry. Existing empowerment initiatives, while valuable, have not yet achieved widespread impact.
Riyaad Khan, Co-Head of Real Estate Investment Banking at RMB, provided a hopeful outlook, suggesting that the current period is one of the most advantageous in history for women in the workforce. Khan cited a study predicting a surge in women earning tertiary qualifications over the next decade which could lead to an increase in female leadership and a transformation of the business environment.
Intentional Equity for Sustainable Transformation
Mphuntshe advocated for a more strategic and purposeful approach to inclusion. Rather than merely fulfilling quotas, she emphasized the importance of assigning women to roles where they can add substantial value. The event exemplified this approach by showcasing women in senior positions, thus demonstrating the potential for meaningful, internal change.
Guest speaker Natasha Sideris, founder of the Tashas Group, shared her insights on managing a diverse team and emphasized the unique perspectives women bring to leadership roles. Sideris called for a shift in focus towards empowering women to achieve their full potential, rather than constantly highlighting the existing disparities.
The Power of Mentorship and Storytelling
Mentorship was identified as a key strategy for advancing gender equity. Mphuntshe likened effective mentorship to sending the elevator back down, ensuring the success of the next generation. Sideris illustrated this principle with a personal success story from her organization, where a staff member progressed significantly through the ranks, eventually training over 1400 people.
The mutual benefits of mentorship were underscored, as both mentor and mentee stand to gain from the relationship. Mphuntshe encouraged sharing stories of resilience and success, as these narratives often resonate with and inspire others facing similar hurdles.
A Collaborative Commitment to Equity
Concluding the event, a unified call to action was articulated, encouraging leaders of all genders to support the growing inclusion of women in the property sector. Institutional change, mentorship, and storytelling were identified as crucial enablers of lasting progress. The property sector is at a critical juncture, and it is imperative to continue advancing gender inclusion for a more equitable future.
Looking Forward
Rand Merchant Bank’s commitment to gender equality is evident in its organizational makeup, boasting a balanced gender ratio with women in prominent leadership roles. The recent event reaffirmed that achieving gender equity requires a collective, unwavering commitment to transformative change. As the sector evolves, the continued focus must be on empowering women and expanding their opportunities in leadership positions, ensuring that the progress made today translates into a more inclusive tomorrow.
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