Women in Taxation Highlight Diversity, Inclusion for Business Growth …laud Grant Thornton’s Women in Business Report

By Doris Israel Ijeoma The Society of Women in Taxation (SWIT) Lagos chapter emphasized the critical role of diversity and inclusion in business growth during a recent visit to Grant Thornton Nigeria. The delegation praised the firm’s Women in Business Report for its two decades of insights and consistency. SWIT Lagos, led by President Sandra Momah, highlighted the importance of including women in leadership roles to drive national development. Mrs. Momah commended the report for showcasing progress among women in mid-market leadership and stressed that women-led SMEs significantly contribute to Nigeria’s GDP, citing National Bureau of Statistics data. Dr. Ngozi Ogwo, Managing Partner/CEO of Grant Thornton Nigeria, noted that the firm’s research has consistently addressed gender imbalances and provided actionable solutions. She highlighted that women’s representation in senior management in the mid-market has increased from 19.4% to 33.5% over 20 years, but stressed the need for continued effort towards gender parity. The SWIT delegation included officials such as Yetunde Olowofoyeku, Fumilayo Oguntoyibo, Olabisi Idowu, Ede Nkiruka, and Kike Kola-Fashanu. They were welcomed by Grant Thornton executives, including Mr. Orji Okpechi and Mr. Victor Usifo. Dr. Ogwo pledged Grant Thornton’s support for SWIT’s activities and announced the nomination of a SWIT ambassador within the firm to coordinate with the organization’s local chapter. SWIT, founded in 2010, aims to empower women in taxation through professional development, advocacy, and networking, contributing to the socio-economic development of women in Nigeria.

Too Few Women Breaking Corporate Glass Ceiling – Grant Thornton

  Concerned about what it referred to as the slow pace of the race towards attaining parity in the rate of women versus men in senior management positions, global professional services and accounting company, Grand Thornton has released a report to commemorate the international women’s day titled “Pathways to Parity: 20 Years of Women in Business Insights.” “While the percentage of women in senior management roles globally has increased from 19.4% to 33.5% over two decades, progress remains disappointingly slow with just a 1.1 percentage point increase from last year. At the current rate, parity won’t be achieved until 2053” it lamented in the report that marks two decades of devoted research into the representation of women in senior executive positions around the globe in mid-market businesses. The report delineates three distinct avenues by which businesses can expedite their journey towards gender parity in senior management. These avenues include designating a female senior leader and a C-suite member as the respective recipients of responsibility for diversity, equity, and inclusion (DE&I); executing an independent DE&I strategy with quantifiable objectives; and providing flexible work schedules. Adding voice to the report, Grant and Thornton Managing Partner and CEO in Nigeria, Dr. (Mrs.) Ngozi Ogwo, says “In today’s world, it is essential for women to be an integral part of DE& I (Diversity, Equity, and Inclusion) leadership teams, as they bring unique perspectives, experiences, and insights that contribute to the creation of a more balanced, empathetic, and effective workplace culture.”  Others who commented on the report were Peter Bodin, CEO of Grant and Thornton International Ltd (GTIL). She says: “Our Women in Business research has been a significant contributor to the global debate on equity in the workplace for 20 years. While we’ve seen some positive change over that time, we also know that sustainable change takes an intentional effort and clear accountability from leadership at every organisation. Through the Grant Thornton International Business Report research and the pathways, we identify, we aim to give mid-market organisations a roadmap to accelerate progress and build more diverse, resilient and successful businesses.” “Mid-market companies have the agility to drive significant change,” says Karitha Ericson, global leader of network capability and culture at Grant Thornton International Limited (GTIL). “By adopting the pathways to parity outlined in our report, achieving 50% representation of women in senior management within the next five years is within reach.” The Grant Thornton International Business Report (IBR), the world’s preeminent mid-market business survey, provides information for the Women in Business (WiB) report by conducting biannual interviews with about 5,000 senior executives from listed and privately held companies across the globe. The report, which was first released in 1992 in nine European nations, currently conducts annual polls of almost 10,000 business executives across 28 nations, offering insights into the commercial and economic concerns influencing the growth prospects of organizations worldwide. About 5,000 chief executive officers, managing directors, chairs, and other senior decision-makers from all industrial sectors in mid-market companies across 28 countries were interviewed between October and November 2023, from which the conclusions in this research were derived.  

Grant Thornton Applauds Aba Integrated Power Plant For Boosting Industrialization

Grant Thornton Nigeria has congratulated the Abia state government and Geometric Power on the successful launch of the Aba Integrated Power Plant. This milestone marks a pivotal moment for industrial growth in Africa, especially in Aba, known as the “Taiwan of Africa.” The Aba Integrated Power Plant is a cutting-edge energy facility, including a 141 MW gas-fired power plant, a 27-kilometer gas pipeline, and a distribution utility. This autonomous system generates and distributes its power supply, boosting local industry. Led by Professor Bartholomew Nnaji and supported by Professor Ngozi Okonjo-Iweala, the project is hailed as a game-changer for Nigeria’s energy sector. Grant Thornton Nigeria’s CEO, Dr. Ngozi Ogwo, emphasized the importance of uninterrupted electricity for business growth and innovation. The plant’s 24-hour operation is expected to enhance productivity, attract investments, an

Grant Thornton Nigeria Welcomes Tayo Adedokun to Fuel Optimism in Economic Growth

Grant Thornton Nigeria, a key player in assurance, tax, and advisory services, is gearing up for robust economic growth, driven by optimism in the mid-market.  The firm is delighted to announce Mr. Tayo Adedokun as the new partner in the Advisory service line, reinforcing its commitment to providing high-quality transactional advisory services. The evolving economic landscape calls for responsible economic policies to attract domestic and foreign investments. Dr. Ngozi Ogwo, Managing Partner and CEO, emphasizes the firm’s dedication to nurturing a resilient business environment in Nigeria and across Africa. Dr. Ogwo highlighted the pivotal role Transactional Advisory Services play in upholding business transaction integrity. These services, encompassing financial evaluations, risk assessments, and compliance reviews, instill trust and confidence in the market. Having joined the firm in 2009, Tayo Adedokun’s transition to the Advisory service line in 2016 marked a turning point. His exceptional performance in valuation, due diligence, and corporate governance review engagements has significantly contributed to the firm’s success. Mr. Orji Okpechi, Head of Advisory Services, underscored the importance of TAS in economic development, citing its involvement in mergers, acquisitions, capital raising, restructuring, and strategic financial planning. These services, he noted, facilitate and support complex business transactions crucial for economic growth. Against the backdrop of regional and global economic policies, the role of TAS has become increasingly vital.  TAS stimulated investment and entrepreneurial initiatives, fostering confidence in investors and businesses. This, in turn, has led to increased investment inflow, business expansion, job creation, and overall economic prosperity. Grant Thornton Nigeria, part of the Grant Thornton International Ltd global network, operates with over 200 staff and 10 partners across three locations and four office. The firm’s commitment to seamlessly integrate into diverse business environments underscored its role in fostering economic resilience and growth.