A publication of International Finance Corporation: Gender Entrepreneurship Markets
First Quarter Edition, Global Newsletter: January 2006
Introduction
IFC GEM welcomes you to its fifth quarterly newsletter designed to keep businesswomen in touch with key events, relevant research and, most importantly, each other!
Research Studies on Women's Access to Finance Initiatives Launched IFC GEM, in its capacity as the Secretariat of the Global Banking Alliance for Women, and the Kauffman Foundation have launched joint studies on initiatives to promote women's access to finance. The IFC GEM study will examine programs and initiatives internationally, with a focus on emerging markets, while the Kauffman Foundation study will look at efforts in the United States. E-mail us with suggestions of institutions that are doing a good job of delivering financial services to women. Read more »
US Women's Business Centers Model Presented in Kenya and South Africa
IFC GEM and the SME Solutions Center in Kenya sponsored the U.S.-based Association of Women's Business Centers (AWBC) to deliver training on its successful business centers model to over 100 Kenyan and South African women entrepreneurs and IFC staff in November 2005. Read more »
IFC Presents at International Conference on Small Enterprise Development IFC's Chief Economist Michael Klein and Amanda Ellis, Head of IFC GEM, addressed the International Conference on Reforming the Business Environment – from assessing problems to measuring results in Cairo, Egypt in November 2005. IFC GEM's Gender and Growth Assessment tool was featured, which was developed to ensure the inclusion of gender issues in investment climate research. Read more »
South African Women Learn—and Win—through the Women Entrepreneurship Programme More than 240 women in South Africa received assistance in developing business plans to build and grow sustainable enterprises through the Women Entrepreneurship Programme (WEP) in 2005. WEP is a pilot project to provide support and access to finance for women from previously disadvantaged communities, designed by Absa (one of South Africa's largest banks), the IFC, the South African International Business Linkages, the Department of Trade and Industry, and the Company and Intellectual Property Registration Organisation. Send an e-mail for additional information.
IFC Trains Women Entrepreneurs in Jordan
IFC's Private Enterprise Partnership Middle East and North Africa (PEP-MENA) organized a two-day December workshop in Amman on pricing strategies and problem solving in partnership with the Jordan Forum for Business and Professional Women. Read more »
First African Woman Head of State Inaugurated in Liberia A new hope for Liberia arrives in the form of Ellen Johnson-Sirleaf, the winner of the Liberian November 2005 election and the country's new president. Known in Liberia as the "Iron Lady," Ms. Johnson-Sirleaf is a U.S.-educated economist, former World Bank official and former finance minister. Read more »
Arab Summit of Business Women Attracts International Participants
Businesswomen delegations from Arab countries, the U.S., Britain, South Africa and China gathered in Cairo for the Second Economic Forum of the Arab Businesswomen Council in November 2005. Hosted by Egypt's First Lady, Mrs. Suzan Mubarak, the forum was convened under the theme "Investment under Peace." Send an e-mail for additional information.
South African Selected 'Woman of the Year' by Women's Trade Organization Futhi Mtoba, the first black female partner and Chairman at Deloitte Southern Africa, was presented with the Organization of Women in International Trade's distinguished 2005 Woman of the Year award at a ceremony in Washington, DC in November 2005. Read more »
Chile and Germany Elect Female Heads of State
Both Chilean and German voters have for the first time in their history chosen women to lead their countries. Michelle Bachelet, a doctor and former exile, became the first female president of Chile in the January 2006 election. Only months earlier, in November 2005, Angela Merkel became Germany's first woman chancellor. Read more about Michelle Bachelet of Chile and Angela Merkel of Germany.
"I am excited by the potential of what I represent - the aspirations and expectations of women in Liberia, African women and women all over the world."
Dr. Sahar El-Sallab, Vice Chairperson and Managing Director of Commercial International Bank Egypt S.A.E. This edition's "GEM" is Dr. Sahar El-Sallab, Vice Chairperson and Managing Director of Commercial International Bank Egypt S.A.E (CIB).. Dr. El-Sallab is a pioneer and key player in reaching out to women clients - an untapped customer segment - in financial services. Dr. El-Sallab is an ardent supporter of CIB's internal gender equality policy and a strong advocate for corporate social responsibility at CIB who has helped CIB reach out to women in an innovative and holistic way. CIB today offers a special "women's club" to discuss investment options and provide information-sharing seminars, a women's credit card entitled "Heya" (the Arabic word for "She"), and sponsorship of charity events like the Run for Breast Cancer Cure. CIB also takes gender equality seriously inside the bank — two of seven Board members are women as well as 45% of senior management and 60% of staff overall.
After graduating from the American University in Beirut, Dr. El-Sallab first worked at Citibank Cairo and then at Chase prior to joining CIB. She is delighted to be part of helping CIB customers grow and become positive forces for economic growth in Egypt. "In my 20 years here, I've seen customers who started really small who then grew into big corporations and became large employers. There's a tremendous satisfaction in being part of that," she explains. "I'm proud of working in an Egyptian environment. It's challenging, but you can see the change; you can see your fingerprints. I want more women to become part of that, creating a positive economic future for Egypt together with men."
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 e-mail us with the details. We look forward to sharing your stories.
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 at GEM-newsletter@ifc.org.