Botswana-based pan African microfinancier Letshego will adopt a policy of diversity, equity and inclusion (DEI) in board appointments going forward.
The policy change will likely see more involvement of historically excluded groups in Botswana, including women, youth and persons with disabilities in the company's Board of Directors.
The change is part of a new constitution that the company plans to adopt, pending shareholder approval at the annual general meeting on the 20th of June.
"It is specifically recorded that appointment of Non-Executive Independent Directors shall be in accordance with the [policy of diversity, equality and inclusion,” the proposed amendment reads.
DEI refers to a framework used by organisations to foster a workplace where everyone feels valued, respected, and has equal opportunities to participate and succeed.
DEI initiatives aim to address historical and systemic inequities that may have resulted in some groups being underrepresented or facing discrimination.
Currently, of the company's 11 directors, only three are women being Catherine Lesetedi, Gwen Muteiwa(Group Chief Financial Officer), and recently appointed Tebogo Tomango.
Letshego's move is an interesting one at a time when DEI policies have faced scrutiny as critics state that they lead to reverse discrimination and undermine meritocracy. Meanwhile, proponents say they lead to the representation of diverse groups, address systemic disparities, and foster inclusivity.
Some companies which have recently dialled down on DEI initiatives include Google, Amazon, Accenture and Goldman Sachs.