Women in Business Newsletter


A publication of International Finance Corporation: Gender Entrepreneurship Markets


Global Edition: October 2005



Introduction



IFC GEM welcomes you to its fourth quarterly newsletter designed to keep businesswomen in touch with key events, relevant research and, most importantly, each other!



Table of Contents



News from IFC GEM and the World Bank Group
Global Gender News
Inspirational Quote
This Month's Spotlight
Call for Consultant CVs
Events
Links to Resources
Read PDF version of this newsletter


News



News from IFC GEM and the World Bank Group

Ghana Event Honors Innovative African Women
Over 300 participants attended the Pan-African Women Inventors and Innovators Awards in Accra, Ghana in early September. With sponsorship from IFC GEM, the event comprised practical training, seminars, exhibition and awards. The awards acknowledged women role models and served as a platform to broaden horizons and increase aspirations of the participants. read more >>


IFC Trains Women Entrepreneurs in Afghanistan
The IFC held a two-day workshop for women entrepreneurs in Kabul, to help businesswomen learn and share innovative approaches to business growth. read more >>


IFC Survey Finds Vietnamese Businesswomen Get Too Little Training
IFC GEM and the Mekong Private Sector Development Facility (MPDF) released the findings of a survey of 500 women-owned businesses in Vietnam and presented the key findings at a series of national forums in October. read more >>


IFC Hosts Regional Gender Forum on Women in Enterprise
The South Asia Enterprise Development Facility (SEDF)-sponsored Regional Forum on Engendering Small and Medium Enterprises in Dhaka, Bangladesh on October 2 and 3 brought together more than 200 regional stakeholders to share experiences and best practice. read more >>


African Development Bank Supports Women in Business
IFC GEM took part in the African Development Bank's seminar on Promoting Women’s Entrepreneurship in Africa, held in Tunis in September. Send an email for additional information.


Global Exchange Forum Focuses on Understanding Women's Social Capitalread more >>


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More News

South Africa Celebrates Women in Technology
About 500 women gathered for the annual Technology for Women in Business Awards on August 9 in Cape Town. The awards celebrated the achievements of women who have successfully used technology to grow and sustain their businesses in South Africa. Businesswoman and architect Polo Moretlo won the award for her talent and the energy she has invested into her interior design company. read more >>


New Saudi Labor Law Includes Provisions for Women
On September 26 the Council of Ministers in Saudi Arabia approved the new labor law that allows women to work in all fields that suit their nature and raises the rate of Saudization of jobs in companies to 75 percent. The law entitles women to four weeks of maternity leave before and to six weeks after childbirth. An employer providing jobs to 50 women or more must arrange for babysitters to take care of their children aged below six.


Men in Denmark Increasingly Fired for Taking Parental Leave
While the numbers of women in Denmark getting fired because of pregnancy is declining, a rising number of fathers risk getting the pink slip because they want to take parental leave. While such incidents were rare prior to 2003, they seem to have risen due to an increased awareness about men’s rights to care about their newborn child.


Sex Discrimination Suit against Morgan Stanley Results in $40 Million Settlement
Wall Street brokerage firm Morgan Stanley agreed to pay $54 million to settle claims of sex discrimination at the firm, including higher pay for men and strip-club outings with clients. Morgan Stanley will set aside $2 million for diversity training and anti-discrimination programs. “This consent decree is a watershed in safeguarding and protecting the rights of women on Wall Street,” said District Judge Richard M. Berman who was hearing the case.



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Inspirational Quote



"If we are able to expose more women to business, we will start building the foundations of prosperity for our economies' future in Africa."

- Honorable Alan Kyerematen, Minister of Trade and Industry, Ghana


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Spotlight On:



Nella Kumafo, Sanel Designs
Ms. Nella Kumafo, a professional artist and a winner of the 2005 PAWII award, is this edition's GEM for her innovativeness and her dedication to turning her love of art into a profitable and socially conscious business operation.

Ms. Kumafo displayed her entrepreneurial spirit already as a graduate student of fine arts at Kwame Nkumah University of Science and Technology. It was the successful outcome of a university research project that led her to business. Ms. Kumafo founded her company, SANEL DESIGNS, out of postgraduate research work on the usefulness of waste plastics.

The vision of SANEL DESIGNS is to "make use of waste materials for productive ventures to the benefit of the society that recognizes the value of art and of finding a lasting solution to the problem of waste that has been indiscriminately disposed of and is a health and an environmental hazard." The company's products include pavement block and tiles, bead blinds, fountains, flower vases, and other decorative products. Currently, SANEL DESIGNS operates from a small store room in Kumasi, Ghana. SANEL DESIGNS aims to extend its collection of raw materials to other African countries, a task that Ms. Kumafo has turned to with her characteristic determination.

Ms. Kumafo was among the fifty finalists of Ghana Development Market and took part in an entrepreneurial skill workshop organized by the Ghana Development Market. She has eight years of experience as a teacher.


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.


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Call for Consultant CVs



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.


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Events



Global Summit of Black Women Business Leadersread more >>

First Annual Conference of US-China Women Business Leadersread more >>

2005 OWIT World Conferenceread more >>

Commonwealth Business Forum 2005read more >>

International Conference: Reforming the Business Environmentread more >>

The International Alliance for Women 2006 International Forumread more >>


Email us
details of your event.


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Links to Resources



UNIFEM's Progress of the World's Women 2005 Report

BBC Debate on Women's Empowerment

Why Men Earn More: The Startling Truth Behind the Pay Gap – and What Women Can Do About It

Onlinewomen Bulletin

The Center of Arab Women for Training and Research (CAWTAR)

Prowess: Promoting Women's Enterprise Support


Email us to suggest a web link.


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Published by the Gender Entrepreneurship Markets unit of the
International Finance Corporation, managed by Amanda Ellis.
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