ZBFHL CFO Mungoni’s advice for women in accounting

STAFF WRITER

Women remain significantly underrepresented in leadership roles within accounting and finance.

Globally, only 15% of Fortune 500 CFOs are women, and in Zimbabwe, a mere 12% of CFO positions in Zimbabwe Stock Exchange (ZSE)-listed companies are held by women, according a study survey conducted in 2023.

Speaking on “Shifting from Technical Roles to Leadership for Women in Accounting,” Emmah Mungoni, CFO of ZB Financial Holdings (ZBFHL), emphasized that women in accounting can step into leadership by developing a strategic vision, enhancing financial leadership skills, and demonstrating influence over business outcomes.

Although women hold 28% of senior leadership roles in finance and accounting in Zimbabwe, the promotion rate for women in finance is 20% lower than for men, according to ZimStats, 2023. This gap represents a missed opportunity for organizations and a call to action for women seeking leadership positions.

To move from technical roles to executive leadership, Mungoni said women in accounting should develop financial storytelling skills. This is the ability to simplify complex financial data and communicate insights effectively is crucial for leadership.

She also advised that women in accounting should proactively identify challenges and propose data-driven solutions.

Furthermore, they should strengthen decision-making confidence, meaning they should back recommendations with strong financial analysis and present them assertively.

There is also need to gain exposure beyond finance broadens leadership capabilities.

More importantly, they should seek mentorship and leadership training . They should learn from successful leaders accelerates career progression.

She also highlighted key challenges women in accounting  face, including lack of role models and mentors, gender biases and stereotypes, limited access to leadership development programs, balancing career growth with personal responsibilities and confidence gaps and imposter syndrome

Mungoni’s message is one of empowerment.

 “Invest in leadership development, seek mentorship, and step up to leadership opportunities—then go for it.”

By prioritizing self-development and taking bold steps, more women in accounting can break barriers and redefine leadership in finance.