How gender lens investing is shaping more inclusive workplaces

Nearly half of the evaluated portfolio showed above-average performance on gender, and a majority of investments contributed to at least one significant pathway for women’s empowerment—such as improving access to quality employment or financial services. Importantly, the most significant outcomes were seen when both the 2X Challenge "Employment" and "Leadership" criteria were met. These cases demonstrate the value of combining inclusive employment practices with support for women’s leadership and broader cultural change within organisations.

To complement the evaluation, Proparco and Kore Global developed case studies spotlighting the gender journeys of selected clients. These real-world stories unpack how businesses are translating gender ambition into action.

1. Leadership and culture matter 

Organisational culture and leadership engagement are central to meaningful progress. In cases like Biosidus and Mauritius Commercial Bank (MCB), strong leadership support enabled initiatives to take root—through, for example, internal gender working groups, regular training, and senior champions for gender equality.

Creating an inclusive culture, however, requires more than good intentions. It takes persistent effort, including training, employee engagement, and visible support from the executive team. Dedicated gender working groups and internal champions were also crucial in sustaining momentum and accountability.

2. Tailored technical assistance can make a difference

Technical assistance emerged as a powerful enabler of progress—when it was tailored and strategic. Examples range from developing strategies to prevent workplace violence, to designing inclusive leadership programmes and providing unconscious bias training for managers.

Importantly, gender diagnostics were a pivotal first step. These assessments helped companies identify where they stood, what barriers women faced, and where opportunities for change lay. For clients like Biosidus, MCB, and Adenia Partners, diagnostics laid the groundwork for targeted action plans that addressed both structural and cultural dimensions of inequality.

With technical assistance support, these clients moved beyond generic goals to implement context-specific solutions—such as updating governance frameworks and introducing safeguards against harassment. Diagnostics also helped foster internal alignment by grounding discussions in data, creating a shared rationale for action.

3. Targets and accountability drive results

Clients that achieved the greatest impact had one thing in common: clear, measurable, and time-bound goals. Whether through gender action plans, equality charters, or investment commitments, structured frameworks proved essential.

For instance, Adenia Partners used gender performance metrics to embed gender considerations into both internal decisions and across its portfolio. These structured approaches helped align stakeholders, attract resources, and track progress over time—turning ambition into measurable change.

The evaluation confirms that the 2X Challenge "Employment criteria offer a strong entry point into gender lens investing. But if we want to drive lasting and transformative outcomes, we must go further—supporting women's leadership, transforming organisational cultures, and embedding inclusion at every level. 

Proparco is committed to applying these lessons to expand the reach and depth of its gender-smart investments. The newly published case studies offer practical insights and inspiration for investors, fund managers, and companies alike. They show that with the right mix of gender intentionality, tools, and partnerships, gender lens investing can be a powerful lever for building more equitable, inclusive, and resilient businesses.