Zenith Bank achieves 53% female workforce in 2024

Zenith Bank has reported a significant increase in female representation within its workforce, with women now accounting for 53% of total employees in 2024.

This marks a notable shift from the 50% female representation recorded in both 2023 and 2022, reflecting the bank’s growing commitment to gender equality at all levels.

According to the bank’s latest gender analysis from its 2022-2024 financial statements, Zenith Bank’s total workforce as of December 31, 2024, stood at 7,704 employees. Of this, 4,090 were women, while 3,614 were men.

This represents the first time in recent years that female employees have outnumbered their male counterparts, signifying a progressive move toward a more inclusive corporate structure.

Zenith Bank has maintained a consistent focus on gender balance over the years. In 2022, the bank employed 6,700 staff, split evenly between men (3,378) and women (3,322), each making up 50% of the workforce. This period reflected a stable commitment to gender equality.

By 2023, the total workforce slightly increased to 6,681 employees, with female representation remaining at 50%. Women accounted for 3,351 employees, while men totaled 3,330.

Although the gender ratio remained equal, the incremental rise in female employees suggested that the bank was actively working toward greater diversity.

In 2024, this trend became more pronounced, as women’s share of the workforce rose to 53%, marking a pivotal moment in Zenith Bank’s inclusion strategy. The 4,090 female employees now surpass their 3,614 male counterparts, solidifying the bank’s leadership in workplace diversity initiatives within Nigeria’s banking sector.

READ ALSO: Zenith Bank expands digital, physical infrastructure amid Fintech disruption

Despite the encouraging workforce statistics, gender disparity remains evident at the leadership level. In 2024, 64% of Zenith Bank’s board members were male, while females held 36% of board positions. Similarly, among top management roles, 68% were held by men, compared to 32% by women.

While these figures highlight the ongoing imbalance in executive positions, the appointment of Zenith Bank’s first female Managing Director/Chief Executive Officer, Adaora Umeoji, is a significant milestone.

Her leadership is expected to pave the way for increased female representation in senior management roles in the coming years.

Zenith Bank’s continued focus on gender diversity suggests that its corporate strategies will increasingly prioritize the advancement of women in leadership.

As gender equality becomes a central theme in global corporate governance, the bank’s progress offers valuable insights into how companies can successfully implement diversity and inclusion initiatives.

Industry analysts believe that if Zenith Bank maintains this momentum, it could set a benchmark for other financial institutions seeking to close the gender gap at all levels of their workforce.

The bank’s commitment to attracting, developing, and retaining female talent is expected to contribute to long-term structural change, ultimately fostering a more balanced corporate environment.