Bridging the Gap: Emerging Private Sector Response & Recovery Measures for Gender Equality amid COOVID-19.

We are excited to announce our contribution to the UN Women and International Finance Corporation report, tagged – Bridging the Gap: Emerging Private Sector Response & Recovery Measures for Gender Equality amid COOVID-19.

 

Lonadek as a multi-award winning ISO 9001: 2015 certified Engineering Technology and Innovation Solutions Company that offers Science, Technology, Engineering and Mathematics (STEM) focused services through talent engagement, have seen the need to expand access to information for women entrepreneurs. Most especially in times like this where COVID brought an emergence of global economic crisis.

 

The UN Women report is aimed to inform companies around the world on emerging practices and initiatives for supporting women employees, entrepreneurs and those in value chains amid the COVID-19 pandemic. It is structured according to six pillars, whereby each pillar provides a short introduction, examples of what companies are doing to further progress, and practices with takeaways that other companies can apply.

 

Having seen that one of the key steps needed to foster a safe and successful economic recovery is an expanded access to the digital skills needed to fill new jobs, Lonadek Global Services paid for the Harvard Manage Mentor premium collection program so that all staff are encouraged to skill-up amid the pandemic. Lonadek also offered free COVID-19 Business Audit services to Women in Business and STEMpreneurs. Lonadek, the Cedar STEM and Entrepreneurship Hub, and the Vision 2020 Career Counselling Initiative (Our CSR Arms) hosted free webinars on topics like innovation and entrepreneurship, partnership, collaboration and strategic alliances for the new norm, etc to support those who are unemployed, Girls in STEM, Youths, STEM teachers and career counsellors.

 

The negative economic impacts of COVID-19 are felt disproportionately by women and girls, who are generally earning less, saving less, and holding insecure jobs or living close to poverty. When emergency costs arise, women tend to rely on their savings In many countries, women do not have the same inheritance rights as men, therefore if their husband dies from COVID-19, they can lose their joint assets and be pushed into poverty. As a result, COVID-19 is likely to affect women’s risk profile and exacerbate their protection gap. Providing insurance coverage for all women, particularly women entrepreneurs, in addition to value-added non- financial services such as mentorship, financial literacy, and education on business sustainability, is crucial for supporting women economically during the pandemic and beyond.

 

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