Enquête Gouvernance et Parité -- Women on Boards in Morocco

March 10, 2022

IFC, in partnership with its partner institution Club des Femmes Administrateurs (Women on Boards Association, CFA) in Morocco, and support from PwC, have conducted a survey study exploring the relationship between board diversity and board effectiveness. This study comes at a time when Morocco has triggered a series of corporate governance reforms, with a recent change of the public limited liability company (Societe Anonyme) introducing a de facto quota for women representation on boards (30% by 2024, and up to 40% by 2027). This study, the first ever in Morocco and the Maghreb region, aims to accompany the recent reform drive, help gather data on board practices in the country, and raise awareness about the importance of benefits of board diversity. In fact, the analysis of the survey data of 133 respondents has revealed a positive correlation between gender diversity on boards and board effectiveness.