A publication of International Finance Corporation: Gender Entrepreneurship Markets
Second Quarter Edition, Global Newsletter: April 2006
Introduction
IFC GEM welcomes you to its sixth quarterly newsletter designed to keep businesswomen in touch with key events, relevant research and, most importantly, each other!
Getting Gender Back on Track "Without adequate financial and political support, the third of the Millennium Development Goals (MDGs) on promoting gender equality and empowering women cannot be achieved," warned World Bank President Paul Wolfowitz at a gathering of senior policy makers and development experts in Washington, DC in February 2006. Read more...
IFC Executive Vice President Emphasizes Need to Focus on Women during Visit to Africa
On his first official visit to developing countries since joining the IFC in January, newly-appointed Executive Vice President Lars Thunell made an effort to reach out to African women entrepreneurs. Read more...
Forum on Women's Entrepreneurship Attracts Top Arab Businesswomen Forty Arab women entrepreneurs and businesswomen participated in a World Bank roundtable in Washington, DC in February, to discuss the role of women in the development of the private sector in the Middle East and North Africa. Read more...
Panel Urges Stronger Support for Rural Women Entrepreneurs
The World Bank's Gender and Rural Development and Community Based Rural Development Thematic Groups recently held a panel discussion on supporting women entrepreneurs in rural operations. Panelists discussed the successes and challenges of ongoing initiatives in India, Indonesia, and Nigeria. Zouera Youssoufou of IFC GEM spoke about current projects that support women entrepreneurs in IFC's agribusiness and mining operations. For more information, please send an e-mail.
IFC Partnership Promotes Women's Entrepreneurship Research IFC's Private Enterprise Partnership Middle East and North Africa (PEP- MENA) GEM program and IFC GEM are partnering with the Center of Arab Women for Training and Research (CAWTAR) to promote research on women's entrepreneurship in the region. CAWTAR will receive funding, technical assistance and training for benchmarking, diagnostic studies, and the creation of a research network. The aim is to formulate policy recommendations to help increase women's participation in private sector development and build a platform for dialogue with policymakers, financial institutions, and the media. For more information, please send an e-mail.
Women Entrepreneurs in Egypt - an Untapped Source of Economic Growth
The German Technical Corporation (GTZ) hosted an art exhibition and seminar series in Cairo throughout February under the theme "Women in Egyptian Society." Gender equality is one area of focus within GTZ, noted Peter Schmidt of GTZ, who chaired the seminar on "Women in Business" in which female entrepreneurs shared their experiences and challenges. IFC GEM also participated in the event. Read more about GTZ's SME Promotion Programme or send an e-mail.
The Global Entrepreneurship Monitor Releases Report on Women and Entrepreneurship Based on surveys in 35 countries, this report reveals that women's entrepreneurship is expanding around the world, but men are more likely to be involved in entrepreneurial activity than women. Read more...
Endowment Advances Women's Rights Globally The Global Fund for Women has completed its successful $20 million Investing in Women Campaign, the largest endowment ever supporting women's programs around the world. The campaign has created two $10 million vehicles: The Legacy Fund, the largest endowment dedicated exclusively to women's rights internationally, and the Now or Never Fund, an emergency fund designed to address women's urgent needs. Read more...
OECD to Launch Pilot Training Project for Women The OECD Centre for Entrepreneurship, SMEs & Local Development is organising a pilot project on women's entrepreneurship in the Middle East & North Africa (MENA) Region. It will train aspiring women entrepreneurs on how to start, manage and grow a business and will teach established women-owned SMEs how to become export ready and access international markets. Read more on the OECD website or send an e-mail.
UN Urged to Appoint a Woman Secretary-General Women's rights groups are lobbying to have a woman appointed as UN Secretary-General, succeeding Kofi Annan who is due to step down by the end of this year. Since the UN's inception in 1945, the post has never been held by a woman. Read more...
Weaving Hope for Rwandan Women During Black History Month in February, New York department store Macy's marketed a second shipment of traditionally-crafted baskets made by Rwandan widows after the first batch sold out. Many of the Rwandan weavers were widowed during the country's genocide, and suffer from the trauma and the effects of HIV/AIDS. Read more...
"No country can expect to progress if half its population is held back from achieving what they're capable of. It is now time to do everything that can be done to help women and girls achieve equality."
The Honourable Joyce Banda, Minister of Gender, Child Welfare and Community Services, Malawi This edition's GEM is the Honourable Joyce Banda, Minister of Gender, Child Welfare and Community Services in Malawi. An influential advocate and community activist, Minister Banda has been helping women and youth gain social and political empowerment through business and education.
In addition to her work in the political sphere, Minister Banda has founded or been active in numerous organizations that work for the betterment of the Malawi people. She founded the Young Emerging Leaders Network and established The Joyce Banda Foundation to provide better quality education and rural development. She also founded the National Association of Business Women of Malawi, the strongest rural non-political network for women in the country that gives women access to credit, training, information, markets and technology. Internationally, Minister Banda has been involved in the formation of the African Federation of Women Entrepreneurs, the Council for the Economic Empowerment of Women in Africa, and was the first chair of Americans & Africans Business Women's Alliance, an organisation established in Chicago to enhance trade between American and African women. Always active in business, she was the first woman in Malawi to chair a statutory corporation.
Minister Banda has received several international and national awards, and has been voted Woman of the Year twice in Malawi. In 1997, she received the prestigious "Africa Prize for Leadership for the Sustainable End of Hunger," a recognition shared with President Joaquim Chissano of Mozambique. "I count myself fortunate that I have had the opportunity to work with many women and witness their growth from a point of not knowing where to get the next meal to feed their family to levels of financial independence that have placed them in the mainstream of business," says Minister Banda. "This often has resulted in their building enough confidence to stand for elections in their communities and quickly move all the way up to the policy formulating tables on national organisations, parliamentary seats and state corporations."
Each Women in Business newsletter spotlights either a women's business association that has developed an innovative idea or process that promotes women's entrepreneurship, or an enterprising and inspiring woman who has achieved success. If you have a success story to share, please email us atGEM-newsletter@ifc.org with the details. We look forward to sharing your stories.
Correction
Our last issue's Spotlight was on Dr. Sahar El-Sallab, whose correct title is Vice Chairperson and Managing Director of Commercial International Bank Egypt S.A.E. We regret the error.
IIFC GEM is looking for women and men experienced in the field of private sector development and gender for future short-term assignments. If you have relevant experience and would like to be included in our database, please email us at GEM-newsletter@ifc.org.