A publication of International Finance Corporation: Gender Entrepreneurship Markets
First Quarter Edition, Global Newsletter: January 2007
Introduction
IFC GEM welcomes you to its ninth 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.
Global Banking Alliance (GBA) for Women Holds Annual Summit in Scotland Fifteen banks that are members of the GBA from around the world met in Edinburgh this November to exchange best practices on supporting women entrepreneurs and ways of reaching into this highly profitable market. This year’s annual GBA summit was organized by the Bank of Scotland and by GEM, which acts as the Alliance’s secretariat. Read more... (PDF, 13kb)
IFC Investment Supports Women Entrepreneurs in Uganda IFC has extended a $6 million loan to DFCU Bank in Uganda, which will be used to improve the company's liquidity and to on-lend to women entrepreneurs, accompanied by GEM technical assistance. DFCU's chairman said, “We have enjoyed an excellent relationship with IFC. This new partnership is a reflection of IFC’s confidence in DFCU.” Read more...
The Other Half of Gender A new World Bank book, The Other Half of Gender, is making the case that promoting gender equality as a Millennium Development Goal will be difficult, if not impossible, without considering men in the gender and development debate. Read more...
GEM Trains Over 150 Participants in Advocacy and Media Skills A two-day advocacy and media workshop, conducted as part of GEM's Gender a Growth Assessment (GGA) process, brought together this October over 150 women entrepreneurs, government counterparts, and civil society representatives in Ghana, Tanzania, and Uganda. For more information, contact Jozefina Cutura.
Study on Access to Finance for Women in South Africa Launched IFC GEM has launched “Access to Finance for Women Entrepreneurs in South Africa: Challenges and Opportunities,” the first research study on this topic since apartheid. Read more... (PDF, 548kb)
Indonesia Showcases Voices of Its Women Entrepreneurs IFC’s Program for Eastern Indonesia Small and Medium Enterprise Assistance (IFC PENSA) has published the Voices for Women in the Private Sectors bookletand a study on Access to Credit for Businesswomen in Indonesia. Read more...
Nobel Prize Awarded for Microfinance The Norwegian Nobel Committeehas awarded the Nobel Peace Prize for 2006, divided into two equal parts, to Muhammad Yunus and Grameen Bank for their efforts to create economic and social development. Read more...
Businesswomen's Summit in the United Arab Emirates (UAE) Nearly 250 businesswomen from 16 countries in the Middle East and North Africa (MENA) joined with women executives from the US for the 2006 MENA Businesswomen’s Summit in Abu Dhabi, UAE this fall. For more information, please send an e-mail.
Pension Funds Launches Equal Pay Campaign The UK Local Authority Pension Fund Forum - a grouping of 38 public sector funds – has started an engagement campaign on equal pay with the top 350 UK companies as part of its work to promote good workforce practices. Read more...
Forbes 100 Most Powerful Women Angela Merkel, The Chancellor of Germany is #1 on the Forbes annual listings of the most powerful women in the world. The power ranking is based on the composite of visibility measured by press citations and economic impact. Read more...
Mandating Women’s Equality in Spain In a culture defined by machismo, the new Socialist government headed by Prime Minister Zapatero is legislating equality in Spanish politics and business. All political parties must now allocate 40 percent of their candidate lists to women, and all large corporations are required to give women 40 percent of corporate board seats. Read more...
Dr. Victoria Kisyombe, Managing Director, Sero Lease and Finance, Ltd. A veterinarian by profession, Victoria Kisyombe has been at the forefront of efforts to increase women’s access to finance in Tanzania. She founded Sero Lease and Finance, Ltd. in response to the problems facing women micro-entrepreneurs in rural areas.“We went into this because most women lack collateral. We decided to look at leasing as our main product,” Victoria says. Sero Lease offers financial leasing products, loaning funds for equipment purchase that becomes the property of the client once all payments are made. Incorporated in 2002 as a limited liability company, Sero Lease has 28 employees and over 3,000 exclusively female clients with an average loan amount of Tsh 500,000 (around US$500) and a 99 percent payback rate. “Before we lease out anything, we sit down with the women. We give them the opportunity and make sure they understand what credit is all about,” says Victoria. Sero Lease also runs a not-for-profit training center through the Sero Businesswomen Association that provides basic business and bookkeeping skills, as well as sensitization programs on HIV/AIDS and legal issues facing women entrepreneurs.
Dr. Kisyombe earned her masters degree in Veterinary Medicine from the Centre for Tropical Veterinary Medicine at the University of Edinburgh in the UK. Her current priorities include lobbying for the passage of a new leasing law, opening additional branches for Sero Lease in rural areas, and starting leasing of agriculture implements.
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.
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.