May 23, 2018: The Financial Times highlighted two ECP investee companies, Oragroup and Générale Assurance Méditerranéenne (GAM), as positive models for the promotion of gender equity in African business. Binta Touré Ndoye, CEO of Oragroup, a regional banking company in West and Central Africa, and Manelle Otmane, CEO of Algeria-based insurance company GAM, are among very few women chief executives leading financial services corporations in Africa. The companies are majority controlled and 100% owned by ECP, respectively.
The article notes that private equity funds with significant ownership of portfolio companies have a rare advantage of being able to contribute to increasing the role of women in boards and in senior management positions in emerging markets. Women’s participation in leadership roles is widely shown to benefit business.