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Creating Opportunities for WomenA publication of International Finance Corporation's Gender ProgramFourth Quarter Edition, Global Newsletter: October 2009IntroductionIFC's Gender Program welcomes you to its twentieth 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. Wherever possible and appropriate, we provide a link for further detail. In this issue you will find news on IFC and World Bank Group activities, including the IFC-facilitated study tour for African banks to Australia's 2nd largest bank by assets to exchange experiences on delivering financial services to women entrepreneurs; global news reports such as the inauguration of Africa's first women bank in Tanzania; upcoming events around the world which includes the Global Banking Alliance for Women (GBA) Summit to be held in Singapore in October, and Resources such as the report by the Heinrich Böll Foundation on gender and environmental financing mechanisms. This quarter's spotlight is on NBS Malawi, one of Malawi's largest banks by asset size, and its women's program. This newsletter shares helpful news and information with women entrepreneurs around the world. If you or your business association have an event you would like to make known, have a success story to share, or would like to tell us what you would like to read more about, please e-mail us. Table of ContentsNews from IFC's Gender Program and the World Bank Group Global Gender News This Month's Spotlight Did You Know? Events Links to Resources Read PDF version of this newsletter News from IFC's Gender Program and the World Bank Group
» Return to Table of Contents Global Gender News
» Return to Table of Contents Spotlight OnNBS Bank – Malawi Eager to reach out to small and medium entrepreneurs and with a specific interest on women, NBS partnered with IFC in 2008. IFC provided a USD 3 million credit line to NBS Bank together with Advisory Services from the Africa Micro Small and Medium Enterprises Program (AMSME), a program aimed at boosting lending to smaller businesses across Sub-Saharan Africa, and the Gender Program. With support from IFC's Gender Program, NBS Bank launched its Women's Program which entailed a clear shift in the way the Bank viewed and served their women clients. Bank staff received training in client relationship management and were exposed to global best practices through the Global Banking Alliance (GBA) for Women. IFC also supported the bank in developing a business training program for their women customers with the goal to improve their business skills and boost their confidence to seek financial services. Capturing the women's market has resulted into a growing and improved loan and savings portfolio for NBS. The share of loans to women entrepreneurs has grown from 30% to 38% since the inception of the IFC-NBS partnership, and it has become an important part of the bank's lending portfolio. At the same time, women borrowers have proven to be excellent clients when it comes to meeting their repayment obligations. Furthermore, an improved reputation in the women's market led to the opening of over 750 new savings and current accounts for women entrepreneurs. "Not only is the women's program in line with our growth strategy but it has also helped us to unlock significant value in women-owned businesses." says Gilford Kadzakumanja, Deputy CEO, NBS Bank. When the government of Malawi scrapped import duties on big buses in 2007, Angela was ready to seize the opportunity. Given the good relationship and track-record she has managed to keep with NBS bank, in November 2008, she received a loan of US$ 186,000, part of which enabled her to increase her fleet by purchasing a 65-seater bus. In addition, Angela received business training under the bank's Women's Program. "The training was very educative and gainful. It broadened my knowledge in business and I am now in a better position to manage my business." Says Angela. NBS's goal is that half of its small and medium enterprise loans are allocated to women by the end of 2009. As envisaged by NBS management, they would like to see successful women businesses not just growing in number but also graduating into corporate entities. For more information on NBS Bank, visit http://www.nbsmw.com. In each newsletter we spotlight either a businesswomen association that has developed an innovative idea, a 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. » Return to Table of Contents Did You Know?...43% of wealthy individuals in the US, defined by the US Internal Revenue Services (IRS) as individuals with assets of at least $1.5 million, are women. Additionally, more and more of these prosperous women use their wealth deliberately and systematically to aid other women in need. Read more... » Return to Table of Contents Call for Consultant CVsIFC's Gender Program is looking for expert consultants in the field of private sector development and gender, labor policies, gender implications of special economic/export processing zones, women's access to justice and alternative dispute resolution for future short-term assignments. If you have relevant experience and would like to be considered for an assignment, please email us. » Return to Table of Contents Events
» Return to Table of Contents Links to ResourcesThe Heinrich Böll Foundation has published a study entitled "Gender and Climate Finance" suggesting that the different environmental financing mechanisms have provided only limited benefits for the Least Development Countries (LDCs) and the poorest and most disadvantaged within those countries, namely women. Read more... A study by the Journal of Global Management Research analyses the status of women-owned small and medium enterprises in Cambodia as well as their specific challenges and opportunities. Read more... CARE launches a report showing positive results of their access to finance program in Africa. Read more... A recent survey by The Kauffman Foundation found that the financing sources and strategies of high-tech firms differ by gender. The findings reveal that women entrepreneurs raised significantly smaller amounts of financial capital at startup than men did. Read more... Read a report launched by "Realizing Rights" analyzing gender issues in ongoing corporate initiatives and offering some recommendations for future actions. The ILO has published a glossary of terms around Gender, Employment and the Informal Economy issues. Read more... We would like to thank the Canadian International Development Agency (CIDA), the U.K. Department for International Development (DFID) and the Ministry of Foreign Affairs of Iceland for their support. E-mail us to suggest a link. » Return to Table of Contents Published by IFC's Gender Program. Please e-mail us your comments, queries, subscribe and unsubscribe requests. | SITE TOOLS  
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