A publication of International Finance Corporation: Gender Entrepreneurship Markets
Second Quarter Edition, Global Newsletter: April 2007
Introduction
IFC GEM welcomes you to its tenth quarterly newsletter designed to keep businesswomen in touch with key events, relevant research and, most importantly, each other! We provide brief descriptions of news, events, and online resources that will involve, inspire and inform you and others like you. Wherever possible and appropriate, we provide a link to further detail.
Women's Economic Empowerment Focus of Berlin Conference A number of European governments, the OECD, and the World Bank Group teamed up this February at a conference in Berlin to discuss ways of increasing the economic power of women. Opened by the German Chancellor, Angela Merkel, and Development Minister Heidemarie Wieczorek-Zeul, the conference focused on the implementation of World Bank's Gender Action Plan launched last September to enable more women to take part in economic processes. Read more...
IFC Extends Line of Credit to Exim Bank in Tanzania This February the IFC signed a US$5 million line of credit with Exim Bank in Tanzania, which will allow the bank to meet the financing needs of its female clients, particularly those running small and medium enterprises. IFC GEM will provide assistance to help the bank reach out to the women's market and make business and management training available for women entrepreneurs. Read more...
IFC Supports Women Entrepreneurs with Loan and Training in Uganda On February 27 DFCU Group in Uganda launched its women's program, supported by a US$2 million IFC line of credit. "Although Ugandan women own 40 percent of their country's private enterprises they represent only 9 percent of credit," said Cherie Booth Blair QC at the launch of the program in Uganda. Read more...
IFC and Newmont Address Gender, HIV/AIDS in Mining Operation in Ghana IFC signed this winter a linkages cooperation agreement with Newmont Ghana Gold Limited to collaborate on supporting small and medium enterprises in the Brong-Ahafo region of Ghana, Newmont's Ahafo gold mine. The program will place a special emphasis on supporting women entrepreneurs and will incorporate HIV/AIDS into its training activities through IFC GEM and the IFC Against AIDS programs. For more information, contact Natalie Africa.
World Bank Group Celebrates International Women's Day A variety of events marked this year's March 8 celebrations of International Women's Day at the World Bank Group. The Pangea Artisan Market & Café, Vital Voices and GEM sponsored a screening of the Oscar-nominated movie "Water," and a discussion with Somaly Mam, a Cambodian activist against sexual slavery, and the founder of AFESIP. For more information, contact Jozefina Cutura.
Symposium Focuses on Gender and Development in Liberia Organized by the World Bank, UNIFEM, and the Initiative for Inclusive Security, the one-day symposium hosted 19 women government and civil society leaders from Liberia. Read more...
Vital Voices Hosts Leadership Summit for Women in Africa The Vital Voices Global Partnership, together with African and international partners launched a new initiative at the Vital Voices of Africa: A Leadership Summit for Women and Girls in Cape Town, South Africa this January. Read more...
Millennium Challenge Corporation (MCC) Announces Gender Policy This winter the MCC announced a formal policy to integrate gender analysis into its assistance programs. "Decades of experience and research demonstrate that gender inequality is a significant constraint to sustainable, long-term economic growth and poverty reduction," said Ambassador Danilovich at the launch. Read more...
Gender Bias Increases Poverty Inequality at home between men and women leads to poorer health for the children and greater poverty for the family, says a new study done by UNICEF, the UN children's agency. Read more...
Young Women Develop Entrepreneurial Skills through College Bazaar A college bazaar for female Emirati students at the Dubai Women's College is developing entrepreneurial skills as students create and implement their business ideas, ranging from cooking food to designing T-shirts. For more information, contact Monica Gallant.
The Cartier Women's Initiative Awards To encourage more women to create their own businesses, Cartier and the Women's Forum for the Economy and Society joined forces in October 2006 to launch the Cartier Women's Initiative Awards. The application deadline is April 15, 2007. Read more...
Exxon Mobil Foundation to give US$5m to Educating Women and Girls The Exxon Mobil Foundation is to make US$5 million in grants available to organizations aimed at improving education and opportunities for women and girls in developing countries. Read more...
International Women of Courage Award Ceremony This March the U.S. State Department paid tribute to ten Women of Courage at an awards ceremony hosted by Secretary of State, Condoleezza Rice, the only ceremony at the State Department that pays tribute to emerging women leaders worldwide. Read more...
"We cannot tackle our problems alone, as shown by issues such a climate change and biodiversity. This is why it is so important for us to empower women as actors in the global world, to have networks, and to exchange experience on practical problems and potential solutions."
- Angela Merkel, Chancellor of the Federal Republic of Germany
Julian Omalla, Owner, Delight Ltd. Julian Omalla, a successful and energetic Ugandan entrepreneur, is the owner of Delight Ltd., a business that includes juice production, a bakery, farm, and a hostel. Julian was never shy or modest. When she was young, she dreamed of being a pilot, and loved chemistry and physics. A friend sponsored her to go to Israel where she studied fruit science. When she came back to Uganda, she started being a trader, but was cheated and lost all her money. Yet she didn't lose her spirit, and started again from scratch. In 2000 she was nominated as the "Young Business Woman of the Year" and won a plane ticket to travel to Belgium, where she bought a fruit juice machine.
In 2000 the demand for Julian's products was outstripping supply, and she turned to the Uganda Investment Authority for funding to expand her operations. She started trading in Sudan. The company grew fast, and her farm is now the largest in Uganda. The farm delivers maize and beans to the World Food Program and has over 100 employees. Even at this stage, she has experienced problems with bankers. One bank she had a relationship with used to bounce her checks, and she felt they did not understand her business. She recently turned to DFCU bank to borrow funds. As a prerequisite to getting their loan, she took a DFCU seminar on business skills, to better understand how to manage the funds. "The training has given me the confidence and understanding of how to borrow from the bank. It was wonderful," she says.
She has won several awards dedicated to women's entrepreneurship, and has been the frequent subject of radio and talk shows in Uganda. Julian has big plans for her business. She wants to finish building her hostel and then to build another one. She is also launching new products - maize and millet flour - and is planning to expand her exports to Sudan and other countries.
Each newsletter we spotlight either a women's business association that has developed an innovative idea or process that promotes women's entrepreneurship, or an enterprising woman who has achieved success. If you have a success story to share, please email us with the details. We look forward to sharing your stories.
The IFC GEM team wishes to thank Avis Charles, who so kindly volunteered to provide access to markets training for women entrepreneurs in Zanzibar this winter. The feedback was fantastic. For more information about her work, visit www.avischarles.com.
IFC 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.