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Banking on Women


 

AT A GLANCE

 

  • Women entrepreneurs are changing the face of the global economy, helping to sustain job creation and economic growth. It is estimated that women-owned entities represent over 30% of registered businesses worldwide. Yet on average about 10% of women entrepreneurs have access to the capital needed to grow their businesses.

 

  • Women have impact on sustainable economic growth, for instance although women comprise 50% of the population in Sub Saharan Africa they produce more than 80% of the food  for the continent. Less than 12% of agribusiness investments are directed at women smallholder farmers.

 

  • According to the Harvard Business Review, women control about $20 trillion global consumer spending and earn about $18 trillion extending their circle of economic influence. 

 

  • Yet, unfavorable business and regulatory environments are among the barriers that still impede women entrepreneurs from accessing finance.  According to an IFC-McKinsey study this has resulted in a credit gap of approximately $320 billion. 

 

  • The fact that many emerging markets financial institutions have yet to develop sustainable strategy to address this significant market gap represents a missed opportunity and constrains private sector development.

 

  • IFC’s Banking on Women program is playing a catalyzing role for partners and financial institutions to help them to profitably and sustainably serve women-owned businesses.

 

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