Event | Engaging Women as Leaders: Innovation, Financing, and Collective Action | World Bank Live

Event | Engaging Women as Leaders: Innovation, Financing, and Collective Action | World Bank Live
Engaging Women as Leaders
Engaging Women as Leaders: Innovation, Financing, and Collective Action
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ABOUT THE EVENT
TRANSCRIPT
AGENDA
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SPEAKERS
Gender equality is an urgent moral and economic imperative. Yet achieving it is uniquely challenging and complex. We must act collectively to accelerate gender equality for a more peaceful, prosperous, and livable world.
During the event, speakers from government, international organizations, the private sector, and civil society pressed for the economic inclusion and empowerment of women, agreeing on the enormous benefits to economies and societies of accelerating gender equality. They stressed the importance of commitment and action of international and national actors to pave a path toward equality, despite the scale of the challenge, and concentrated on the transformative potential of women’s financial empowerment, highlighting the essential role for public finance in reaching women and girls with social services, especially the poorest and most vulnerable.
In support of accelerating gender equality, the World Bank Group aims to release a new
Gender Strategy for the 2024-2030
early next year – an ongoing consultation process on the proposed Strategy is open until November 30, 2023.
The
Women Entrepreneurs Finance Code (the WE Finance Code)
– a commitment by financial service providers, regulators, development banks, and other financial ecosystem players to work together to increase funding provided to women-led enterprises – was launched the following day. A Joint Statement of Support was signed by the presidents of six multilateral development banks – We-Fi’s Implementing Partners, who will pilot the WE Finance Code in 24 countries across the developing world.
[Rachelle Akuffo] Hello and welcome to the 2023 Annual Meetings of the World Bank Group and IMF. I'm Rachelle Akuffo, anchor for Yahoo Finance, and we are live here from Marrakesh, Morocco. Before we start, I want to acknowledge the devastating earthquake that took place in Morocco last month. At this very difficult time, we are here to stand by Morocco and its people. Over the next 90 minutes, we'll be discussing how to engage women as leaders and the role of innovation, financing and collective action in accelerating gender equality. You can share your thoughts on this topic anytime using the hashtag #WBmeetings. Of course, please send us your questions either online at worldbank.org or in person, using the QR codes that you see displayed in the chairs in front of you. Our event features two distinguished and inspiring panels. In the first panel, we'll hear from policymakers on why women's leadership is so important in a time of overlapping crises. And then in the second panel, we'll hear from the private sector and civil society leaders on the specific solutions they're developing to empower women. Let's dive right into the first conversation. Please. join me now in welcoming our panel. Miss Anna Bjerde, World Bank Managing Director for Operations. Miss Amina Mohammed, Deputy Secretary-General of the United Nations. Her Excellency, Rania Al-Mashat, Minister of International Cooperation of the Arab Republic of Egypt. A welcome to you all. Thank you so much. [Audience applauds] So, Anna, we will kick things off with you. As we know, the World Bank has an ambitious mission to end poverty on a livable planet. Can you tell us how the Bank is placing gender equality in its mission and strategy?
[Anna Bjerde] Great. Thank you so much. And wonderful to be here and wonderful to be here together with Amina and Rania. I'm just so delighted. Yes, absolutely. We have a new vision, which is to end poverty on a livable planet. If you think about that planet, 50% of that planet is represented by women. Yet, these 50% are not having the same opportunity as the other 50%. We think about this very much through the lens of equality. Why it matters is because it is, for us, a fundamental moral question, frankly, but it's also an economic and social development question. Just to give you a little bit of a sense, why do I say that? That is because gender gaps in economic development impose a huge economic and social cost. I just want to mention two numbers that really stay with me just to kind of focus us and center us for a moment. Globally, GDP per capita could be 20% higher if women employment were at the same rate of men's. 20% higher. Imagine today in a time when we're looking at a decade ahead of us of such slow growth, we could make such a difference. And get this one, this number I also think about so often, economic gains could be five to six trillion more if women started and scaled businesses at the same rate as men did. And let me not stop there. Women, when they are represented as leaders in communities, in policies, in businesses, we know we have a better outcome on resource management, we have better environmental stewardship, and perhaps most importantly, we see a marked correlation between the prosperity of today's generation and next generation because of the decisions that women make today. For us, it's absolutely instrumental that we put women at the center of our new vision and in how we step up and do development going forward.
[Rachelle Akuffo] It must be frustrating when you hear these numbers and the difference it could really make if more women had the sort of investment and the sort of access to opportunities. I want to turn to Her Excellency, Rania Al-Mashat. Minister Al-Mashat, the world is undergoing major changes in response to crisis as well as innovation. With that in mind, that also includes digital transformation and green transitions as well, what is Egypt doing to empower women, youth and other marginalized groups to drive positive change as leaders, innovators and entrepreneurs? If you could give us two or three examples.
[Rania Al-Mashat] Thank you very much. First, let me also say that I'm extremely delighted and honored to be on this panel with one of the key figures pushing the agenda on SDGs and women forward, Amina Mohammed and of course, my dear colleague Anna as well from the World Bank. Before I speak about that particular aspect, let me say that women's participation in the economy is macro-critical. This point about macro-critical means that it's no longer just a statistic that we're trying to improve, but it has become fundamental in national programs, because if we are able and the quantification on a global scale was just mentioned, also a quantification on a national scale is mentioned. In Egypt, if we have parity, our GDP grows by 34% more. That's a huge number. That means there is economic gains not just for women, but for the whole economy. We are able to unleash a lot of potential. When you talk about digitization, entrepreneurship and female participation on all of this, programs related to financial inclusion become extremely, extremely important. In the country in 2015, there was a gender strategy that was launched. It looked at the economic, social and political aspects related to gender participation. This was extremely important and with the central bank, a lot of work on financial inclusion because through that you are able to create entrepreneurship, ecosystem. You are also able to create more engagement on the SMEs where women come very much in the center. Climate. As part of the dialogue on climate action, particularly adaptation, it has been shown that in countries where there are adaptation issues, if women take the lead, then definitely there's going to be gains because they are in the communities themselves. In our case, we have also put together a climate/gender agenda. This was launched several years ago. As we are pushing forward as presidents of COP27 in Sharm el-Sheikh, several initiatives related to gender and climate action, very, very important. Pinpointed with targets that just not applied for Egypt but in the continent, and also learnings with South-South cooperation as well. As Minister of International Cooperation, we work with all partners, World Bank, bilaterals, and of course, with the United Nations being the biggest multilateral institution. Most of the programs that we do are driven from strategies. Each of the strategies we have with our development partners, inclusive economy comes into play. Inclusive here means women and youth. This is, again, an overriding objective, and then it's translated into different projects and programs with our development partners. Finally, there is a lot of synergy across the programs. Here, government involvement becomes important to create complementarity between what the World Bank is doing, what the UN is doing within the country, within our national borders, so that we are able to leverage the comparative advantage of each of our partners to be able to meet our national goals.
[Rachelle Akuffo] You raise some important points there, not just on the collaborative side, but having this inclusion as macro-critical. When you look at things through that lens, it really does change the narrative. Miss Mohammed, I want to bring you in here. As the UN Deputy Secretary General, can you tell us how far we are from SDG number five, which is gender equality, and what are the main challenges that we still face to gender equality? And also, what should make us hopeful?
[Amina J. Mohammed] Okay, three and one. Thank you very much. And great to be with two amazing women who are walking the talk. It's not easy to do that in the spaces, even when we get them to lead. We're not doing very well. We met in New York as a global community to assess halfway through where we were with the SDGs overall. Goal five, the gender goal, was always going to be the one that we got for sure. We just didn't know the ambition. Having got it, we called it our docking station. Whatever we did in the investments in women on the other 16 goals had to matter for goal five. Sadly, the targets that we have, over 140 of them, only 15% met. We went in very sober that we had in fact, regressed. In some places, we were flatlining. We were not making the progress at all. Worse still, we didn't have the data to tell us in many cases where we're at. At country level, we had an aggregate and that really just masked where the real issues were for gender, whether it was school or access to SRSH and our issues around equal pay, all of these we are off track. But we did go in there knowing that we had the solutions and that clearly the means of implementation had been a barrier and women are often the first to fall off that radar when we talk about investing in agriculture, investing in the energy transition. It's almost as though you are invisible. Here, very specifically, we saw where we were not and know where we need to be. Therefore, as we look at raising the resources for it, we can be very specific about those areas. I think here, with the energy transition really important, this will be about green transitions, there will be green jobs. It's an opportunity to bridge the gap that we have as we do things differently. It is the same as for the digital divide, and we speak to education. We know how far behind we could be if we're not all connected. This is a place that we need to be because we are not. We are almost invisible. When you come to the question of what gives us hope, is that governments are doing much more than they did eight years ago in recognizing that gender is an issue and that they've got the strategies, but often it is the means of implementation. It is the debt crisis that many are facing today. It is the exacerbation of that lack of being able to recover from COVID-19 or perhaps the cost-of-living crisis that we see as a result of the war in Ukraine. Hope is that we can resolve this. We're here in Marrakesh because there is a reform agenda that we've all said we can do with the means of implementation. The SDG stimulus we put in front of everyone to say that this can happen with what you have existing. When you talk about the prosperity and the ending poverty and a livable planet, all of this gives us hope because we know exactly where women need to be in that and the kind of investments that need to happen. I think that we're working better across institutions with government, recognizing that this work has to be done at the country level. This is not going to be 40,000 feet up. I think we've got the policies, we've got the tools, the frameworks, now we really have to help countries to get to where they need to be.
[Rachelle Akuffo] With that in mind, then, Anna, I want to bring you back in here. Because if we do approach things not just from that high 40,000-foot view, but also at the country level, share your perspectives then on the power of innovation, financing or collective action to drive change, and give us a few examples of what the Bank is doing in these aspects.
[Anna Bjerde] Yeah, absolutely, but since I'm in the mood of shocking people a bit with numbers today, I want to mention two more things which again should wake us up, if they haven't already. One is according to the World Economic Forum Global Gender Gap Report, at the current rate of today, it will take us 131 years to close gender gaps. Just a reminder, before COVID-19 we estimated it was 100. What happened? Women are harder hit by crises than men are. Just a reminder that in a few years, we set off a huge increase in the years that it will take. This is absolutely fundamental. The second thing is we published something called Women Business and the Law, and I hope if you're not already following it, I actually think it's quite insightful. It finds that only 14 countries, 14 around the world, have laws that give women the full same rights as it gives men. 14 countries. As my colleagues say, we have a lot we can work on, but we also have a long way to go. But hope there is, because this year we have two Nobel Prize winners who I think we should actually mark here today. [Audience applauds] We have Narges Mohammadi, we all know, who is getting the Nobel Peace Prize honored for her fight against the oppression of women in Iran. A reminder that we don't take oppression anywhere. Not in Iran, not anywhere. The second person, of course, is Claudia Goldin, who is getting the Nobel Prize in Economics. Harvard professor honored for research on gender gaps in the labor market and how to narrow it. I find that the recognition of these two women is also so inspirational for why we need to keep this fight going. But now let me answer your question. What are we doing? It goes back to the evolution roadmap at the World Bank and what we're trying to do to change, and we're really trying to get to scale. There are three ways that we're finding through our work that we need to focus on and we need to do differently. The first one is we really need to take advantage of the evidence we're getting of how to reach women and reach the women equality and close that gap. We instituted some years ago an innovative little pilot project in one region called Gender Labs. This has now spread to many, many more regions, and it's giving us the evidence of what type of interventions help to get to scale. That's number one. The second one is to really link the research work we do to operations. I'll be very honest with you, I find it often easier to have a research or have a report than it is to do the operation. I'm pushing hard in the World Bank that we take our research to our operational front because it's not enough to have a good report. We have to have action on the ground. The last one is to influence high level reforms and policy dialogues. This is where I'm very encouraged to see so many now really infused by this innovation that we need to be out there talking at all levels with stakeholders about the importance and the cost of not closing this gap, because it's real, it's economic, it's social, and I have to say again, it's moral. We're really trying to really go to scale. That is the biggest innovation, I think, that we can bring at this point, because that's what's needed.
[Rachelle Akuffo] Minister, I know we got some signs of hope here from our other two panelists. If you could leave us with your final thought on what's giving you hope, especially when you look at the gap that Miss Bjerde was just talking about as to where we are with gender equality.
[Rania Al-Mashat] If we're going to look at the gap and say that's going to hold us back, we won't be able to overcome it. I think it's actually a motivation. The second point is the quantification of all of this, even though there's so many numbers out there, but they're very important in the policy dialogue, not just the policy dialogue across government. Remember that gender is a cross cutting theme. If you're talking about transportation, gender comes in. If you're talking about energy transition, gender comes in. It's a cross cutting theme, and therefore all of these statistics and numbers are so important in the policy dialogue within government, and then they create a very important platform for our engagements with the rest of the world. Today, there's not a single, for example, if we're talking about the private sector that needs to come and invest in a country, unless there are certain ESG benchmarks related to gender, then it's going to be very difficult to compete as a country with respect to other countries in order to attract investment. I believe that the convergence of views on how to address many of these issues is very important. It's becoming more mainstream and it's not taken, as I mentioned, just as a nice number that we want to close. It has economic implications, which makes the global goals achievable, and the global goals go beyond what we want to do in our country specifically, and then each country trying to address its national goals is contributing to the global goals, and then we all have to report back on the SDG matrix, which we do with a lot of determination, but also with a lot of pleasure, because it does humanize this concept of people planet. It's not just very big slogans, it actually, at the end of the day, comes to the rural areas, comes to the young girls, comes to the violence against women, adolescents, et cetera, et cetera. I just want to mention one program that we have in Egypt, Haya Karima Decent Life, which goes to 4500 villages. It's not just about infrastructure development, it's human capital infrastructure as well. The only way to do that is by creating more jobs for women, financial inclusion, and also for the youth.
[Rachelle Akuffo] Appreciate all of your commentary this afternoon. I hope you're all feeling motivated by what you've heard here to take this call to action. A big thank you to our guests for joining us to discuss the importance of accelerating gender equality. You certainly are the embodiment of women's leadership, and we appreciate your insights. Thank you very much. [Audience applauds] Before moving on to our next panel, I'd like to introduce two very special guests. They are women entrepreneurs supported by We-Fi, and they traveled from Jordan and Bolivia to share with us their personal journeys as leaders and as entrepreneurs. Let's welcome our first Ignite speaker, Hanan Shahin, Co-founder and CEO of Bloomcart. [audience applauds]
[Hanan Shahin] Hello, everyone, or Marhaba, as we say it in Arabic. My name is Hanan Shahin. I'm the Co-founder and CEO of Bloomcart. MENA’s first try before you buy software. I'm a Jordanian, by the way. For some reason, ever since I was a child, I knew that education is the key to security and success. Later on, I studied architectural engineering, and I thought my future was set. But I had a nice experience for 13 years to experience something other than architecture. But architecture sharpened my mindset and logic. Ironically, not as an engineer in an office, but as an entrepreneur developing other industries, like ecommerce. For the past 13 years, I sharpened my tools. I worked as an employee, a freelancer, and I even founded my own business in 2014, MENA’s first ecofriendly event planning startup. But I found my true calling during the most unusual time, the Pandemic. The Pandemic, as horrific as it was, also gave me a business idea. People were no longer going to stores to shop for items anymore, and I saw an opportunity to help small clothing businesses sell remotely. Now, when it comes to clothes, we know that people have to try before they do the buy. And the challenge was, how are we going to do the try in a market where 80% of shoppers pay in cash rather than credit cards and where there is no infrastructure for easy returns? It turned out to be simple. We brought fitting rooms home to them. This is when we created Bloomcart, the try before you buy business. We created a fully automated try before you buy software. But people were not familiar with that. We had another idea of finding something they are actually familiar with, which turned out to be WhatsApp. Then we integrated our software to that. We set up a calendar for people to book their trial appointments. This is how shoppers are able to have their in-house fitting room experience through WhatsApp. We then deliver the items, they try them out, and they only pay for what they decide to keep. For logistics, we worked with freelance drivers. Does it sound intensive? Yes. Is it successful? Also, yes. After two years of intensive hard work, we are now onboarding merchants. We have just started finally generating revenues, and we have also started generating recognition. We won a grant by the Queen Rania Entrepreneurship Awards. We then raised an angel round. In 2022, Bloomcart was selected as one of the fastest growing companies in the world by Founder Institute Silicon Valley. We then raised an investment round from Flat6Labs and Loyal VC in Canada. Bloomcart was also a finalist at the IFC She WINS Arabia in Dubai. But I must say, expanding to the MENA market is not an easy job. It's not like the North American market or the European one. We don't have one format that fits all MENA countries. Each country has its own specifications when it comes to language, shipping, returns, payments, regulations, and even the level of digital penetration to commerce. These are all challenges we face expanding our business. But they are also opportunities. They also great opportunities for us and gaps we can fill. I have my own challenge on a personal level. Most women I know will have to choose between having a family and a career. I consider myself one of the lucky ones who managed to do both. I have these two beautiful boys and I am building my business. But I must say, I couldn't have done it without the full support from my husband on the home front. To any of you familiar with the Middle Eastern culture, you will know that his attitude is very unusual and rare. To all policymakers listening to this today, there are important things you can do so that no woman will have to choose again between having a family and a career. You can help create childcare support systems that actually work for both parents. They say it takes a village to raise a child, and yes, of course it does. So please, please don't leave it all to women. Thank you. [Audience applauds]
[Rachelle Akuffo] Thank you so much. Thank you, Hanan, for your sharing your story with us. Indeed, it does take a village to make sure that women entrepreneurs are supported with the financing and the tools they need to succeed. Of course, good luck to you and your business. Hopefully, women won't have to keep making that choice. Now, I want to welcome our second Ignite speaker from Bolivia, Miss Valeria Diaz, Co-founder and CEO of Munay, a social fintech company based in Bolivia that's working on getting financing on the hands of women entrepreneurs. Welcome, Valeria. [Audience applauds]
[Valeria Diaz Romero Urdininea] Thank you very much. Good afternoon, ladies and gentlemen. My name is Valeria Diaz Romero. I am from Bolivia. I am the CEO and co-founder of Munay, a social fintech that aims to empower women entrepreneurs. I'm here today thanks to the We-Fi that supports the We Exchange Latin American competition. Munay was recognized as one of the top 15 startups in Latin America. But today, I don't just represent myself. I'm here as a symbol for every woman in this room and women everywhere. I am here to tell you my story. I am told my story started even before I was born. My parents couldn't have kids. They were told by doctors they couldn't. However, after five years, I came along. I beat the odds right from the beginning. I was a rebel before I was born. I guess I lived up to that reputation. I have never accepted the status quo, even though I was growing up in a society that has traditionally valued men higher than women. From an early age, I volunteered in different projects. I was assisting in a nursing home. I helped building houses in rural areas. I have also worked in various projects in the United Nations in Bolivia. However, my education was in business administration. How was I going to bring these two worlds together? I think my true calling revealed itself in 2018. I used my holidays to volunteer in Africa. I spent a month on a women's empowerment project with girls that had violent or drug addicted parents. That volunteer experience literally changed my life. From that point on, I was certain of my path. I wanted to help women and the fates were with me. I applied for and I got an all-inclusive scholarship to study abroad. I did a master's in Management and Leadership in Switzerland. Not only was I able to study, I met like-minded people from Bolivia. We decided to create Munay, a startup for women. Munay is a social fintech that aims to financially empower women entrepreneurs. These are women who dream of becoming economically independent, making their businesses sustainable over time. Many Latin American women start their businesses as an alternative to stop being exposed to situations of violence, dependence and exclusion. We all know here that starting a business is difficult. But it is even more so for women. We lack technical skills and financial resources to even begin that journey. Just look at Latin America, where 82% of women that start their businesses do it with their personal savings. They cannot get access to credits because of all the requirements of traditional banking. We also feel totally alone during our entrepreneurial journey. That's where Munay comes in. Munay is built on three pillars gender sensitive financial product, access to relevant business knowledge, and access to a supportive community. With these three pillars, we provide support to women entrepreneurs throughout their entrepreneurial journey. In the last two years, we have supported more than 500 ventures led by women. That's around 1500 people in total. We have disbursed more than 55,000 dollars. That came to about 250 dollars per person. It doesn't sound like a lot of money, does it? You cannot even imagine how important this amount of money can be for them. We also provided more than 1600 hours of training sessions. Of course, we know we're just a tiny part of the solution. What women entrepreneurs need today are opportunities. We need institutions to see women as strategic partners. It means stop seeing aspiring women in financial terms only, look at them through a different lens. It means to assess the whole person, their dreams, their hopes and their commitment to their ventures. Look at women as strategic partners. What if we could unlock doors to even greater opportunities for women? Imagine the untapped prosperity that awaits us if we unite reshaping our world. Thank you very much. [Audience applauds]
[Rachelle Akuffo] And thank you too, Valeria, and thank you to Hanan again for sharing your inspiring stories and for continuing to beat the odds. I just want to remind you that throughout the program you can share your thoughts online using the hashtag #WBmeetings and you can submit your questions online at worldbank.org. Before diving into our next panel discussion, let's take a look at a brief video that highlights the importance of accelerating gender equality. [Video speaker] Gender equality is an urgent priority. It is both a fundamental human right and essential for global development. Removing barriers to gender equality can unlock economic productivity, reduce poverty, deepen social cohesion, and enhance well-being for current and future generations. Yet achieving gender equality is challenging and complex and requires collective action. The world is experiencing an unprecedented set of crises, pandemics, economic downturns, climate change, conflict, all of which have greater negative impact on women, girls, sexual and gender minorities, and marginalized groups. We have the power to change this. That is why we are taking bold action to end gender-based violence, elevate human capital, expand and enable women's economic opportunities, including through access to services like childcare, and engage more women as leaders. Studies estimate economic gains of five to six trillion dollars. If women started and scaled new businesses at the same rate that men do, closing employment gaps between women and men could yield as much as a 20% increase in GDP per capita. No country, community or economy can achieve its potential or meet the challenges of the 21st century without the full and equal participation of everyone. Join us as we work to accelerate gender equality to create a more peaceful, prosperous and livable world for all. [Audience applauds]
[Rachelle Akuffo] Now, let's turn to private sector and civil society leaders on some of the most innovative programs that put more financing and resources in the hands of women. Joining us now on this panel, Miss Leïla Doukali, National President of the Association of Women Business Leaders of Morocco. Miss Ruth Zaipuna, CEO of NMB Bank. Mr. Andrew Torre, Regional President for Central and Eastern Europe, the Middle East and Africa at Visa, and Miss Faith Lumonya, Economic Justice and Climate Action Lead at Akina Mama wa, Africa. Welcome to you all. Thank you so much. [Audience applauds] So, Leïla, I want to first kick things off with you. Talk us through how AFEM supports women entrepreneurs and what examples, give us a few that you can share about how associations like yours really harness their collective action to foster innovation.
[Leïla Doukali] Thank you so much, Rachelle. I'm so glad to be part of this panel. Thank you for your invitation. The Moroccan Women Business Association, AFEM, has been working for 23 years now to encourage business creation by women and to help women entrepreneurs seek more growth. Our association roadmap for the next three years takes into account an exhaustive and underground inventory of the situation of female entrepreneurship in Morocco. Morocco for Women has tremendous potential because more than half of university seats are occupied by young girls. We have one of the highest rates of female engineers in the world, which we subsequently lose for societal reasons. This, therefore; results in a business creation rate that is too low compared to the potential. The last study from the World Bank said comparing to the potential of Morocco we should be at 35% or 40% of employment rates. We are now around 20%, and for creation by business women is only around 10%, which is very low. We work, all of us at AFEM, on a daily basis to be as close as possible to this population through our regional representations to encourage them to be active in the economic development of our country. For these Moroccan women, they need to be listened to, to be reassured, to be supported because we are convinced that their personal development essentially involves the accomplishments of their dream and their financial empowerment. Due to their recurrent family and societal responsibilities, we must work closely in close collaboration with the public authorities to provide them with efficient programs that will help them to be in a position of actions and not in a posture of submission where they suffer the weight of our traditions. As part of our desire to develop public and private partnership, we are actually conducting a program with the Ministry of Industry and Trade dedicated to the development of women in industry. We have tremendous potentials in sectors such as crafts, cosmetics, agro, fashion. We want to give more visibility to both nationally or internationally and more economically to those women and we can do it. We also joined the Leadership Program led by the Ministry of Higher Education to raise awareness among students and reach out to them so that they can start thinking about maybe creating their own business. Because, as I said, half of the seats of the university are occupied with young girls, but we lose them at 25 years old because of societal reasons. We have also signed for the financing aspect because it's also a problem with the partner Bank here because we want them to facilitate the access to finance through personalized support. I said personalized, it's very hand by hand. We have to take it and to make it reinsured, otherwise she's not going through. We are launching now, I know that [Unintelligible] is here, very soon a new generation of accelerator incubator in the Casablanca-Settat region, not to mention all the action to carry out to support our members such as the Health Team, meetup, training sessions, access to a national international network, support with public authorities.
[Rachelle Akuffo] It's good that you're bringing in those examples because a lot of people are really looking for some bold direction to see some real significant change here. Ruth, I want to bring you in here because you took the pioneering decision for your bank, NMB, to be the first to issue a gender bond in Sub–Saharan Africa to finance women-led enterprises. What can you tell us about investor interest in gender inclusive instruments? Maybe you could start off by highlighting a few key ways that NMB has really been championing inclusive and sustainable growth.
[Ruth Zaipuna] First of all, thank you very much, and thank you for having me here. It is really an honor. And you are very right. I think gender bonds are a relatively new concept in sub–Saharan Africa. As you have rightly said, NMB Bank was the first in sub-Saharan Africa to issue a gender bond. This is a gender bond that is designed to support projects and businesses that promote gender equality and women empowerment. Now, at NMB, as an organization, we actually have put in place a clear strategy and commitment towards deriving gender equality and economic empowerment of women. In 2019, as part of our strategy and in partnership with IFC under the Finance to Eco Initiative, we made two commitments. First, we committed to advance workforce gender equality and gain a gender equality certification, specifically the Edge Certification, in three years. Second, we committed to drive economic empowerment of women through the creation of a unique market proposition for women. In 2020, we actually commenced the Edge Certification process and we launched the unique Women Proposition, and we called it NMB Jasiri Women Proposition. The Jasiri Women Proposition actually has two key objectives. First is to help women to achieve their economic goals through tailored banking solutions. Second, to promote commercial viability, to improve commercial viability of their businesses through financial education, study tours, product knowledge and training, but also to bring them together so that they can network, they can share experience, share successes and share opportunities. Now, fast forward three years later through hard work, commitment and disciplined execution of our strategy and agreed initiatives, last year in 2022, we became the first financial institution in Africa to be awarded the Edge Certification, and we became the first financial institution in sub-Saharan Africa to issue a gender bond. Now, back to your question. When you said, how can we address the question on investor interest in gender-inclusive instruments? I think I would say, firstly, just being the first gender bond in sub–Saharan Africa, the bond actually set a new benchmark for issuance of gender-based instruments. But now, for NMB, the remarkable successes of the bond, including an oversubscription of 197% and cross listing of this bond at the Luxembourg Stock Exchange, actually provided us with the much-needed clarity in terms of investor appetite, in terms of demography but also in terms of investor interest in gender inclusive instruments. There are three insights that we noted, and please allow me to share these. I think the first great insight that we noted the Jasiri Bond provided is the strong appetite of women in supporting empowerment initiatives. From a gender perspective, women were the largest investors in the Jasiri Bond. They actually accounted for 52% of the investors. But we also noted that despite operating in a capital market that is still at its infancy, there is a strong investor appetite from local population. In the case of the Jasiri Bond, actually 99% of the investors with almost 80% of them were local. 99% of the investors were local with 80% of them originating from outside the business city of Dar es Salaam. I think this further just highlights the fact that there is a growing investor base outside the business cities. For NMB, we were actually able to tap into this exciting market through our vast branch network of over 230 branches. But third, for institutions and foreign investors, the Jasiri Bond provided a great fit for investors who are interested in impact investing. For example, we received a $10 million investment in the bond from IFC. And for us, this was actually a true testament of investors' confidence in the Bank's vision and impact investors growing commitment in promoting socioeconomic empowerment agenda. I think I would say based on our experience, it is evident that gender bonds are an important investment option that uniquely provide a perfect win-win situation for issuers, for communities, and for the investors. Thank you. [Audience applauds]
[Rachelle Akuffo] You raised a good point about… oh, yes, about that need for really a tailored knowledge of what's needed on the ground versus sort of a broad-brush solution that perhaps might not address the needs. Andrew, I want to bring you in here because as we know, a global organization such as Visa engages with public and private sector stakeholders across multiple touch points. What are some of the systemic barriers that you see in women's access to finance and what are the opportunities to address them on a global scale?
[Andrew Torre] Thank you. I think the previous panelists did a really good job talking about the significant barriers that exist, systemic real barriers to women's economic empowerment. I won't belabor those. I want to just first of all, thank the World Bank and We-Fi for really convening us and bringing us together to have this conversation. It's incredibly important. I'm incredibly optimistic about the opportunity with the digital economy to really remove some of these structural barriers and really close these gaps folks talked about, and I'll talk about three things that we see that are important. The first one is to get access to the digital economy. The second thing is to have inclusive financial products, and the third is about public private sector partnerships. If you think about participation in the digital economy, we have barriers right there and they're gender-based barriers. According to GSMA, in the lower middle-income countries, there's a 17-percentage point gap between men that own smartphones and women. Women 17 point less than men. And on the Internet access, it's a 19-percentage point gap. And the digital economy, the bedrock of a digital economy, is a smartphone, and it is Internet access. I think this is something that governments play a really, really strong role in, in bringing up and helping support this infrastructure, that it's ubiquitous and affordable. I think it's the first thing we think about. The second thing is around inclusive financial products. Ruth talked about one. We see and then I think previously it was talked about that 1.7 trillion-dollar financing gap. One side of it is financing gap. The other side of it, if you're an optimist like me, is it's a market opportunity. We see lots of fintechs and institutions like Ruth’s, NMB, that see that as an opportunity to go out and capitalize on that. I think one of the things that I think is emblematic of what we're seeing is there are lots of fintechs coming into this space. We just recently launched a fintech accelerator program in Africa. We had over 1000 applicants for 20 something spots in our first accelerator program. What was phenomenal about this, this is across Africa, is that 50% of those applicants were focusing on women-owned, micro-small businesses, and also inclusive financial products. Over 50. The other thing that I thought was startling, in the total applicant pool, 30% of the applicants were women-owned or women-led. The cohort we picked ended up being 40%. If you think about that more broadly, you have digital fintech startups that want to go out, they want to offer these products, and when they're women-owned and led, they're also going to be more mindful of the products that women are going to want and the way they're going to market to them. That is incredibly important. I think the third thing is on the private-public sector partnerships, we work in an ecosystem. At our core, we spend a lot of time talking to governments, talking to civil societies like Leïla’s organization. One of the things that we have to support and finance women is a global platform called She's Next, which is a real spotlight on women entrepreneurs. Leïla, actually, we were just talking in the back, and she's going to be on our judging panel, I think it's next week, Leïla, right? For a cohort of women entrepreneurs in Morocco that we're going to provide mentoring, support, knowledge and funding. And we often work with governments across the continent, across the Middle East, with the SME authorities who have a real eye on this as well. In our last cohort here in Morocco, there was a company called Neoli, and what they did is they saw a real market opportunity to bring a digital marketplace to the artisans, the artisans that you'll see if you walk around Marrakesh or Fes or other areas that were really limited to selling to those who come into their store or on their stalls. During COVID-19 there was horrible economic situation for them. The woman founder of this company Neoli created a marketplace, got them all online. Now they didn't need to just reach the people that walked into the store, it was open to the world and to the globe. I think that really is the power of public and private sector partnerships, supporting women entrepreneurs. There's one women entrepreneur who created a digital marketplace that supported thousands of other entrepreneurs across cities, across Morocco.
[Rachelle Akuffo] And certainly, these are the kinds of stories that remind us that even though we do see these gaps and these barriers, there is also opportunity there. With that in mind, Faith, I want to bring you in here because we're going to talk about a different sort of barrier, one that's not systemic, but we're talking about climate change. We know that women are bearing the brunt of climate change. They're also critical in helping communities build climate resilience. In your view, what can we learn from the efforts of grassroots movements and particularly youth and women, in working towards gender equality and climate justice? Faith.
[Faith Lumonya] Thank you very much for that question, and thank you very much for inviting me. I am from the civil society, and I think there's usually reservations about engaging. But I think for me, one of the things I want to start with is acknowledging that we are operating within a world where everything has been placed in the marketplace, and so, everyone is rushing to get a profit from solving some of the challenges that we currently face. Unfortunately, those that live at the margins of society, but also, those that are disproportionately affected, are the ones that then a lot of the solutions that are being advanced so that a certain group of people can maximize a certain profit are the same people, are these same people who I'm talking about. When you think about the climate crisis and gender inequality, these are two systemic issues. They are systemic, they are a result of systemic barriers and structural barriers. Addressing them will require that we adopt structural and systemic approaches. But one of the things that we continue to see, for instance, even when it comes to the climate crisis, is that what we are getting are solutions that are merely addressing symptoms rather than addressing the causes. Even when you think about gender inequality. Again, a lot of what has been done is provide a few dollars here and there to try and support women entrepreneurs, but not addressing the structural barriers as to why they are unable to be able to grow beyond the point that they are operating. I think for me to share some of the lessons that we have learned. One of the things that we have learned as grassroots movements is that we can no longer talk about getting us to participate in spaces such as these. We can no longer talk about getting access to certain monies. We are saying let's interrogate why the money is not getting to us. We are saying why? Let's interrogate why we are not at that table when it comes to decision making. I think for me one of the things I want to do is just make four points. One is that yes, we know that the World Bank, for example, has advanced the private sector as one of those actors that can support, for instance, delivering social services, but one of the things that we have learned is that the private sector cannot deliver social services that will respond in addressing the lived realities of people. We know, for instance, that the World Bank has been investing in Kenya around the Africa medical equipment facility. But a lot of the companies, medical health facilities that have benefited from this particular project have been the larger ones of which the majority of the women in a lot of in this particular community largely rely on the smaller facilities, because the objective really of private sector is to maximize profits. We can't run away from that. These are individuals putting their money so that they get a return. We know that it's important that we bring back public sector. We need to bring back the role of the state and ensure that the state is deeply involved in providing the services that we need. The other thing I want to talk about is the fact that, again, to go back to the private sector, we know that without regulating the private sector, the private sector will operate with impunity. I'll give an example from Uganda where I come from. There is a public private partnership that was invested in by the World Bank. One of the things that we have seen is that there's been continued women and men working in precarious conditions and the company is not being held accountable because they wield a lot of power over the state and over the people. We know that the idea of deregulation is not working and particularly when it comes to issues of human rights. The private sector has distanced themselves from taking up that obligation and ensuring that they protect the rights of people, because, again, their focus is on maximizing profits. It's important. For me, the point I'm trying to emphasize here is the role of the state. And then finally, as I conclude, I'll try and tie up the two points. I know this is a World Bank space, but we know that the World Bank works closely with the IMF. I think one of those very painful experiences that we have had is the impact of austerity measures in our countries, our governments, because of austerity measures imposed on them by the IMF and the World Bank, because there are loan conditionalities. We are now in a situation where our key social sectors like health, like education, are underfunded, and what is being funded is sectors like industry, which are essential, but I think it's important for us to really center people and center the lives of those that are at the margins. Financing health, financing education must be the role of the state. It's important that there are all the gaps that are being put in place to limit their active involvement in financing development in these sectors are removed.
[Rachelle Akuffo] Faith, important to get that civil society aspect in there, absolutely. I do want to do a quick fire round here for all of our panelists here. We heard from Anna and the ministers earlier that it takes leadership and innovation to really move the needle on gender equality. We need to act with a sense of urgency. I'm going to ask each of you to name one top priority that you believe either your organization or the broader policy community must focus on in the next twelve months. Leïla, let’s start with you.
[Leïla Doukali] Yeah, Rachelle, if I may, I have two, please. The first is the establishment of the Turnkey Industrial program dedicated to women, of which we will include innovation. We were supposed to talk about innovation, we didn't have time for it.
[Rachelle Akuffo] It's included in here.
[Leïla Doukali] Okay. And the second is to convince young women currently being finalized of their higher education curriculum to be an actor of the economic development of our kingdom.
[Rachelle Akuffo] And Ruth, in terms of your top priority that either you or your organization or the broader policy community really should focus on with a sense of urgency in the next twelve months.
[Ruth Zaipuna] Thank you very much. I think for NMB Bank, the key priority and focus for us is, and it will continue to be financial inclusion. Why? Because financial inclusion and the whole aspect of access to finance, I think they continue to be key factors when it comes to the women economic empowerment agenda. I think Tanzania, for example, in our country, we are making good strides already when it comes to financial inclusion. Financial inclusion in Tanzania now has increased from 65% in 2017 to 76% in 2023. However, only 22% of Tanzanians use banking services. For us, as a bank, financial inclusion will continue to be key. We will continue to accelerate our efforts to ensure that we bring more Tanzanians into the formal banking sector. We are already making big progress already. Last year in 2022, we opened almost one million new customer accounts. This year we have plans to open 1.2 million customer accounts, and we are making progress already. We are actually opening more than 5000 new customer accounts on a daily basis. We will continue to invest in digital technologies. We will continue to invest in agents banking because these are the services that will actually ensure that we reach all Tanzanians, even in rural areas.
[Rachelle Akuffo] And Andrew, your top priority?
[Andrew Torres] Sure, I'll step it up a level and just say I think more broadly, the private sector, if the private sector is serious about things, they have strategies for it, they have business goals for it, and they hold the business accountable. Businesses have strategies around what they offer, but now we've also heard in the previous panel around climate change. I think if we're going to get serious, we ought to have a women's economic empowerment strategy. We ought to have real initiatives behind it, and we ought to drive it with our frontline teams, the businesses. It's worked really, really well for us. I was talking about She's Next and the other things. But you need to back it at the institutional level and make sure your teams know it is a priority.
[Rachelle Akuffo] And Faith, your priority over the next twelve months?
[Faith Lumonya] I think for me, the priority should be restructuring the global economic architecture. I use the word restructuring because it's not reforming. What we need is an overhaul of the current system, the current system that is managed by the IMF, by the World Bank, by the UN, by the World Trade Organization, because what we currently have is a group of institutions that are gatekeeping economic oppression. What we need is a restructuring of our system to center those at the margins of this global world that we live in and not be driven by the decisions of the rich. I think for me, one of the other things I want to see democratizing as part of the restructuring process, is to democratize. Because when we talk about women's leadership, and from an African perspective, when you think about the representation of our countries within the IMF, within the World Bank, for example, we only have two people representing 46 countries from the sub-Saharan Africa, while the US and the different European countries have representation for each of their countries. The system is unfair and it's flawed. It's important because if we are talking about women's leadership, we know how patriarchal the African society is. That is already a limitation in as far as when women will be able to actually lead on behalf of sub-Saharan Africa or Africa. For me, what we need is a complete overhaul of the current system and a restructuring of the global economic architecture. Thank you.
[Rachelle Akuffo] You're very welcome. Thank you. Thank you all so much. Now, of course, I want to turn to a few questions from our audience. As you recall, they've been posting questions online both before and during the event as well. Again, hashtag #WBmeetings and you have the QR codes on the back of your chairs there. This first question here directed to Leïla. “How can we engage with the survivors of gender-based violence, especially in the rural areas, so they become independent and run their own businesses?”
[Leïla Doukali] This question was not supposed to be dedicated to me. I think it was when we were talking about innovation. We're supposed to talk about innovation. Can you repeat the question, please? There's no problem with that.
[Rachelle Akuffo] They did ask for your insights. But if there's a way that you can perhaps factor that in, you could factor in innovation to it too, because it really is about helping women become more independent, even if it is coming out of a terrible situation.
[Leïla Doukali] Yeah, absolutely. Can I talk about innovation, which is in the heart of our concerns? Also, it's very important because we talked about it just later, sometime before. It's a real source of growth, and our women, we are talking about women and development here. I would like also to talk about Moroccan women here. The average age here in Morocco for women entrepreneur is around 42 and 45 years old. This generation is not very comfortable with the tool of digital, especially since the majority of our businesswomen are in the trade and service sectors. These sectors need innovation to develop. Innovation is one of the essential criteria of our programs. The world is evolving at a high speed and AFEM for Moroccan women through its Digital Developments and Innovation Commission, we have the responsible with us today here, ensures that this important component is integrated into every process that we do. If we want those women to be competitive, as I said, in a market which is becoming more and more harder. This commission was created to respond to the challenges and opportunities that arise from digital transformation, innovation and mastering of digitalized essentials for the growth and sustainability of our companies. We work also, we don't forget the green aspect of our businesses. It's very important, and we created also a Green Commission, with the World Bank, also, we have been involved in the We-Fi program where a certain number of our members follow training in ecommerce to become trainers. We are still waiting for the second part of the program dedicated to businesswomen, which would like to develop their businesses through ecommerce.
[Rachelle Akuffo] I know we're tight on time. I do want to make sure that we get to all of our panelists. If you could wrap up your most salient point here to address how you'd like innovation to be addressed.
[Leïla Doukali] Simply not missed. We are late here in Morocco, we missed the digital turn. We have to fix it now and not miss the turn of the intelligence, Artificial Intelligence. It's coming. It's in front of us and we need to master it.
[Rachelle Akuffo] We've already seen such rapid changes and developments in AI, as you mentioned there. Andrew, next question to you. “How can companies put into practice the various issues that were discussed today to better support women?”
[Andrew Torres] Yeah, it's a really good question. I think one is about having organizational focus on it. I'll give you an example of something that we care deeply about and which I think is an imperative to what I talked about earlier, which is financial education, financial literacy. Faith talked a lot about it as well. This is something that we've had a long-standing history of doing and sponsoring. If I think about something that's going to make a big change too, you've got the digital economy and people are ready to start using innovative products, it's crazy to think that they're going to be using them and using them responsibly if they're not educated. I think we, as an ecosystem, have a responsibility to make sure there is real financial education and literacy. I think over the next, let's say, we should make year 2024 the year that we all focus on that, that governments really have a national curriculum and they'll bring in the private sector. There are lots of companies like us that do a lot of training, but I think that is going to be critical. Financial education, financial literacy.
[Rachelle Akuffo] Unfortunately, we are out of time, but please make sure you follow all of our panelists. This has been a fantastic discussion here. This does bring us to the end of our event. I want to thank you all for your insightful and thought-provoking discussion. Gender equality is an urgent imperative that calls on all of us to take collective action. I want to thank you to our online audience for joining and participating in the dialogue. You can watch the replay of this session and our other events at worldbank.org/annualmeetings. Of course, please continue sharing your comments online with the hashtag #WBmeetings. Let's continue to accelerate equality together. Thank you again to all here for joining us. [Audience applauds]
00:00
Welcome
| Engaging Women as Leaders
Panel discussion
| Anna Bjerde, Managing Director of Operations, The World Bank; Amina J. Mohammed, Deputy Secretary-General, United Nations; Rania Al-Mashat, Minister of International Cooperation, Arab Republic of Egypt
01:58
How the World Bank is placing gender equality in its mission and strategy
04:30
How Egypt is empowering women, youth and other marginalized groups
08:26
Challenges and hope in achieving SDG number five: Gender equality
12:17
The power of innovation, financing, and collective action to drive change
15:49
Hope on the horizon to achieve gender equality
Inspiring stories of women entrepreneurs
19:03
Hanan Shahin, Co-Founder & CEO, Bloomcart, from Jordan
25:27
Valeria Diaz, Co-Founder & CEO, Munay, from Bolivia
31:03
Explainer video:
Accelerating gender equality
Panel discussion
| Ruth Zaipuna, Chief Executive Officer, NMB Bank Plc; Andrew Torre, Regional President for Central and Eastern Europe, Middle East and Africa (CEMEA), Visa Inc.; Faith Lumonya, Economic Justice and Climate Action Programme Officer, Akina Mama wa Afrika; Leïla Doukali, National President, Association of Women Business Leaders of Morocco
33:34
How associations harness collective action to foster innovation
38:46
Investor interest in gender inclusive instruments
44:46
Addressing systemic barriers in women's access to finance
50:02
Working towards gender equality and climate justice
57:09
Top priorities to to move the needle on gender equality
1:02:40
Live Q&A | Helping women become more independent
1:06:49
Live Q&A | How can companies better support women?
1:08:11
Closure
Anna Bjerde, World Bank Managing Director for Operations
“50% of the planet is represented by women, but they do not have the same opportunities as men… […] let’s talk about the importance of closing this [gender] gap…it is economic, it is social and it is moral”
Rania Al-Mashat, Minister of International Cooperation, Arab Republic of Egypt
“Women’s participation in the economy is macro-critical. It is not just a statistic we are trying to improve, but it is fundamental in national programs.”
Amina J. Mohammed, Deputy Secretary-General, Executive Office of the Secretary-General, United Nations
“We are off track on gender SGD 5, but we have the solutions […] we have the policies, tools, and frameworks – it’s the implementation that needs to be improved."
Hanan Shahin, Co-Founder and CEO of Bloomcart, Jordan
“My message to policymakers is this: there are important things that you can do so that no woman has to choose between having a family and a career […] It takes a village [to raise a child], so don’t leave it all to women.”
Valeria Diaz Romero
Urdininea
, Co-Founder and CEO of Munay, Bolivia
“Stop seeing inspiring women in financial terms only – assess the whole person, their dreams, their hopes, and their commitment to their ventures.  Imagine the untapped the prosperity that awaits us if we unite in reshaping our world."
Leïla Doukali, National President of Association des Femmes Cheffes d’Entreprises du Maroc
“Women need to be listened to, reassured and supported […] we are convinced that their personal development essentially involves the accomplishment of their dreams and their economic empowerment.”
Ruth Zaipuna, CEO, NMB Bank, Tanzania
“Gender bonds are an important investment option that uniquely provide a perfect win-win situation for issuers, for communities and for the investors."
Andrew Torre, Regional President for Central and Eastern Europe, Middle East and Africa, Visa Inc.
“If we [in the private sector] are going to get serious we need a women’s economic empowerment strategy."
Faith Lumonya, Economic Justice and Climate Action Programme Officer, Akina Mama wa Afrika
“Climate and gender inequality are systemic crises […] solutions have to address causes and structural barriers.”
Resources
Publications
Gender Equality in Development: A Ten-Year Retrospective
Gender-Based Violence Prevention and Response in World Bank Operations: Taking Stock After a Decade of Engagement (2012-2022)
A Retrospective of IFC’s Implementation of the World Bank Group Gender Strategy
World Bank Gender Thematic Policy Notes Series
Gender Innovation Lab Federation Causal Evidence Series
Other related links
World Bank Gender Strategy 2024 – 2030
Women Entrepreneurs Finance Initiative
IFC: Gender Equality & Economic Inclusion
Watch more events on Gender
Virtual Q&A
Abigail Dalton
Operations Officer, World Bank
Abigail Dalton
Hello everyone and welcome to our event “Engaging Women as Leaders: Innovation, Financing, and Collective Action”.
Moderator: Kristyn Schrader-King
We'll start the event in a few minutes. Please stay tuned and submit your comments and questions using the Live Chat. We remind you that interpretation will be provided in Arabic, French, and Spanish.
Moderator: Kristyn Schrader-King
Gender equality is an urgent moral and economic imperative. Yet achieving it is uniquely challenging and complex. We must act collectively to accelerate gender equality for a more peaceful, prosperous, and livable world.
Moderator: Kristyn Schrader-King
Today’s event, hosted during the 2023 World Bank Group and IMF Annual Meetings being held in Marrakech, provides an opportunity to hear from leading global voices on this important topic.
Moderator: Kristyn Schrader-King
What is the impact of gender inequality on economic development
Tinyade Matiya
Closing the gender employment gap would raise long-run GDP per capita by nearly 20% on average. Studies estimate economic gains of $5-6 trillion if women started and scaled new businesses at the same rate as men do. Expanding quality childcare can yield multi-generational impacts by promoting equity and improving women’s employment and productivity and child development. And addressing gender-based violence (GBV) can offer enormous gains. WBG estimates the costs of intimate partner violence (IPV) at up to 3.7% of GDP​.
Expert: Abigail Dalton
As we empower women to be leaders what are we doing to educate and inform the men in their lives to avoid gender based violence?
Gwen
Working with men and boys is critical for reducing gender-based violence. For instance, a World Bank Sahel women empowerment and demographic dividend project established safe spaces for adolescent girls where they receive training and social support, using religious leaders to raise awareness of risks of child marriage, early childbearing, and the benefits of keeping girls in school. In addition, it created husbands and future husbands' clubs to mentor members on gender equality.​
Expert: Abigail Dalton
Is there a way of closing system barriers that hinder women's economic mobility especially in developing countries laden with gender inequalities and imbalances due thier patriarchal nature
Thina Mpofu
Closing gender gaps in labor force participation and the quality of jobs, including removing the constraints that restrict the growth and performance of women-led businesses, can be a driver of inclusive growth, with the potential to raise long-run GDP per capita by more than 20%. Further, research shows a connection between women's economic empowerment—the ability and power to generate income and accumulate assets, and to control their disposition—and other objectives, including links with child nutrition, education, and reduction in gender-based violence. In addition to sectoral support to boost women's economic empowerment in finance, agriculture, health, and education, the Bank is investing in comprehensive programs to empower women and girls. More operations include investments across the lifecycle. And the WBG Gender Strategy Update will elevate women's economic empowerment as a strategic goal alongside closing gender gaps.
Expert: Abigail Dalton
Over the next ninety minutes, we’ll be discussing how to engage women as leaders, and the role of innovation, financing, and collective action in accelerating gender equality.
Moderator: Kristyn Schrader-King
This event is organized by the World Bank Group, including IBRD, IDA, and IFC, in partnership with the Women Entrepreneurs Finance Initiative (We-Fi).
Moderator: Kristyn Schrader-King
You can share your thoughts on this topic any time using the #WBMeetings.
Our event features two distinguished and inspiring panels. In the first panel we will hear from policymakers on why women’s leadership is so important in a time of overlapping crises; and in the second panel we’ll hear from private sector and civil society leaders on the specific solutions they are developing to empower women.
Moderator: Kristyn Schrader-King
Welcome everyone! I am Kristyn Schrader-King, and I will be moderating today’s live chat. I am supported today by my colleague Hellen Wagura. We are also joined by our experts: Abigail Dalton and Farid Tadros who are online to answer your questions. You can submit your questions in English, French, Spanish or Arabic.
Moderator: Kristyn Schrader-King
Today’s event is being moderated by Ms. Rachelle Akuffo, Anchor, Yahoo Finance.
Listed on this page you can see the speakers participating in today’s discussion.
Moderator: Kristyn Schrader-King
In the first conversation, we will hear from policymakers on the importance of accelerating gender equality and why women’s leadership is so important in a time of overlapping crises.
Moderator: Kristyn Schrader-King
Ms. Anna Bjerde kicks off the discussion by elaborating on the World Bank’s ambitious mission – to end poverty on a livable planet – and how the Bank is placing gender equality in its mission and strategy.
Moderator: Kristyn Schrader-King
Can you share examples of WB role in successful collective actions or collaborations led by women that have had a significant impact on their communities or industries?
Saba Naz
The Women Entrepreneurs Finance Initiative (We-Fi) is a global partnership of 14 donors and 7 Multilateral Development Bank partners that was launched in 2017 to support women entrepreneurs by scaling up access to financial products and services, building capacity, expanding networks, offering mentors, and providing opportunities to link with domestic and global markets. We-Fi programs are now operating in 67 countries with more than 400 partner organizations and have helped get $3.3 billion in funding and capacity-building to over 170,000 Women-led SMEs since our founding.
In addition, We-Fi will be launching a multi-stakeholder initiative, the WE Finance Code, at the annual meetings to close the finance and data gaps affecting women entrepreneurs. The Code is a commitment by financial service provider, regulators, development banks, and other financial ecosystem players to work together to increase funding provided to women-led micro, small and medium enterprises (WMSMEs) around the world, so that they can grow and add value to the economy and their communities.
To learn about We-Fi
we-fi.org/
To learn more about the WE Finance Code
tinyurl.com/4737fd3d
ExpertFarid Tadros
Minister Al-Mashat explains what Egypt is doing to empower women, youth, and other marginalized groups to drive positive change as leaders, innovators and entrepreneurs.
Moderator: Kristyn Schrader-King
How can we make young adolescents girls participate more in digital space for improved productivity.
Philomena Irene
Addressing women’s digital literacy, especially for vulnerable women, is urgent. Skills such as basic computer skills and digital literacy, social media and digital communication skills, e-commerce and online entrepreneurship, digital marketing and online branding are critical to ensuring women can benefit from and thrive in the ongoing digital and green transition and enter high-value, male-dominated sectors. Complementing such digital skills training with soft skills, engaging role models, and creating structured linkages to the labor market through internships, apprenticeships, and job placement programs can have positive outcomes. For example, this brief examines how the World Bank’s We-Fi ‘E-Commerce for Women-Led SMEs’ project addresses the constraints faced by small- and medium-sized enterprises (SMEs) run or managed by women operating in: Algeria; Djibouti; the Arab Republic of Egypt; Jordan; Lebanon; Morocco; and Tunisia connection Women-Owned SMEs to E-Commerce Platforms in MENA
tinyurl.com/ycxy3awa
Expert: Abigail Dalton
Hi all! How can we encourage women to join key industries such as the mining industry and manufacturing industry that are still predominately male? Safety is one of the factors that deter us, how to go about this?
Khutso
The World Bank is working to remove barriers to participation across sectors. One World Bank project seeks to address the gender gap in managerial positions at a state-owned company dedicated to supplying the public with running water and sewer services) by setting gender targets for staff promotions, launching  a targeted communication campaigns to motivate women to apply to management and technical positions, and offering targeted training to fill existing capacity gaps in women’s technical and leadership skills. The company is also part of the World Bank’s Equal Aqua Global Platform, which seeks to deepen gender diversity and inclusion in water institutions.
Expert: Abigail Dalton
Ms. Amina Mohammed looks at what it will take to achieve SDG 5, which is Gender Equality, and what the main solutions are to achieve gender equality.
Moderator: Kristyn Schrader-King
Women, Business and the Law:
wbl.worldbank.org/...
Moderator: Kristyn Schrader-King
Evolution Roadmap:
www.worldbank.org/...
Moderator: Kristyn Schrader-King
Gender Innovation Lab:
www.worldbank.org/...
Moderator: Kristyn Schrader-King
You can learn more about the World Bank’s work in Gender in our “Gender Equality in Development: A Ten-Year Retrospective”. This report explores global progress and lessons learned over the past 10 years in promoting gender equality – it takes stock of global progress and considers the impact of evidence-backed solutions to close the most persistent gender gaps. It examines the evolution of World Bank Group’s engagement on gender and highlights promising approaches. (
openknowledge.worldbank.org/...
Moderator: Kristyn Schrader-King
Two women entrepreneurs, supported by We-Fi, have traveled from Jordan and Bolivia to share with us their personal journeys as leaders and entrepreneurs.
• Ms. Hanan Shahin, Co-Founder and CEO of Bloomcart
• Ms. Valeria Diaz, Co-Founder and CEO of Munay
Moderator: Kristyn Schrader-King
How has world Bank helped to fight gender based violence in a country ?
Nakirya Annet
The World Bank Group is committed to ending gender-based violence (GBV), and is working with more clients to prevent and respond to GBV in all its forms across all sectors. Over the past 10 years the World Bank has significantly ramped up its work to prevent and respond to GBV in all its forms. The Bank has increased its lending on GBV-related activities, including prevention and response activities so that women and girls can live lives free of violence and receive the care they need if they do experience violence. Lending operations incorporating activities to prevent and/or respond to GBV have increased more than 10-fold, from 38 in 2012 to 390 in 2022, with entry points in every sector to increase investment in prevention and response and deepen impact. The World Bank is stepping more firmly into the policy space through development policy financing (DPF) to foster policy and regulatory change. In 2013, there were only six development policy operations (DPOs) that are GBV-related, all of which were in the Latin America and Caribbean region. Today, there are 44 active DPOs with actions related to GBV, spread across all regions, in countries such as Uzbekistan, Tonga, and Egypt. World Bank-financed initiatives to prevent and/or respond to GBV are present in over 97 countries – up from 21 countries in 2012. And there are very strong links with the new WBG Gender Strategy for 2024-2030 (under preparation) in mobilizing collective action and working through communities and exploring ways to transform negative gender norms engaging men and boys alongside women and girls for sustained impacts.
Expert: Abigail Dalton
Not a question... Just happy wiy
Diana Irungu
Hi Diana, we are happy you could join us!
ModeratorWorld Bank
How can women be able to solve financing, growing skills, improve on systems to be able to close the gaps that lead to business failure in turn lead to support and growth of small enterprises into medium and large enterprises.
Susan Asiret
Addressing the financing and skills gaps faced by women entrepreneurs is essential to spur business growth and enabling small businesses to flourish into medium and large enterprises. Moreover, supporting the growth of women led businesses is a core element of a country’s economic development. According to the Global Entrepreneurship Monitor, in developing countries, 17% of women run their own businesses and a further 35% aspire to do so in the future. Over half of working women in developing countries view entrepreneurship as a path to economic empowerment, twice as many as in developed countries. Finding ways to unleash their potential to create and grow businesses is critical.
For more information on the Global Entrepreneurship Monitor Report:
tinyurl.com/yc394pu2
ExpertFarid Tadros
With reference to your support in projects; what challenges and barriers do women face when aspiring to leadership roles, and how can these obstacles be addressed effectively?
Saba Naz
Enormous gender gaps in corporate leadership persist. Globally, women hold 19.7% of board seats, and 6.7% of board chair, 5% of CEO, and 15.7% of CFO positions Despite evidence that shows that companies with more gender-diverse leadership demonstrate a stronger commitment to inclusive growth, broader stakeholder focus, and good ESG practices which contribute to better financial performance, reduced business risk, greater resilience, and enhanced sustainability.; an increase of 10 percentage points in women’s representation on boards is associated with 6 percent more patents; shifting from no women in corporate leadership to 30% is linked to a 15% increase in profitability.​ In water and sanitation utilities, higher gender diversity in leadership is correlated with more hours of service and fewer service disruptions.​ Companies with more women on their boards also tend to prioritize climate governance and are more likely to be on track to meet global climate goals ​. Structural obstacles, such as lack of workplace flexibility and conflicts between work and family obligations, combine with specific barriers that narrow women's leadership paths: lack of data and capacity development, biases and discrimination, lack of information and role models and more. ​ The WBG is exploring what works to facilitate and promote women's leadership in the private sector, including the impact of regulatory reforms and corporate leadership programs.
Expert: Abigail Dalton
What is World Bank doing to unlock the potential of women who at a certain point in their life chose 'care giving' as their way of life? These are science graduates, law graduates, engineers, and professionally qualified women who missed the bus and despite wanting to, think it is too late. These women are frustrated and raising emotionally stressed families as they can't channelize their mind in a rewarding way. The numbers are huge.
Megha Pushpendra
We have identified several potential entry points for childcare interventions across different sectors, including childcare to facilitate participation in skills training, employment, and public works programs; using skills training programs to build a quality childcare workforce; supporting women entrepreneurs to open their own childcare business via different grants or other suitable financing model; prioritizing childcare in Micro, Small and Medium Enterprises; and providing subsidies/grants to support women and men in the informal sectors (cash contribution to maternity and paternity leave provision). For a sustained impact, along with our partners, WBG has launched the global Childcare Incentive Fund which will take a whole-of-World Bank Group approach to support countries to design and implement better childcare programs, improve policies, build capacity, generate data, and provide evidence on the impacts of childcare on women’s empowerment, early childhood development, and inclusive economic growth.  This Fund will catalyze at least $180 million in new funding to ensure quality, affordable childcare in available in low- and middle-income countries worldwide.
Expert: Abigail Dalton
Gender inequality continues to be affected by having few Women in decision making positions,this is even worse in the rural set up and this further exacerbated by Cultural norms.For the developing Countries to achieve the Sustainable development goals ,how can we address cultural issues that are so deep rooted.
Mwaka Luguru
Accelerating gender equality requires a sustained and broad effort to tackle existing power asymmetries, shift harmful gender norms, and change entrenched mindsets. The impact that social norms can have on gender outcomes, including women’s economic participation, gender-based violence, sexual and reproductive health, and other critical domains, is clear. At the World Bank, we have been expanding work on multiple fronts to address how gender and global challenges interact, how to engage both women and men in addressing these challenges, and how to better address harmful social norms and gender unequal mindsets.
Expert: Abigail Dalton
What is the role of the World Bank
ROSE MBAMBU NYONDO
Hi Rose, to learn more about the World Bank and its mission, you can visit:
www.worldbank.org/...
ModeratorWorld Bank
Amazing discussions
Dr. Annstellah Gakii
Thank you very much for the wonderful session!
Ashwini Sathnur, Zero Hunger Champion in United Nations World Food Programme, Member Consultant of the World Bank Group
Great presentation
Dorothy Chihuri
So inspiring to hear Hanan Shahin speak. It does take a village. Don't leave it all to women!
Natalia Mazoni
You are all such phenomenal inspirations. Thank you for everything you are doing for the world.
Jessica L. Proffitt
How can sustainable investment and corporate social responsibility help promote women as leaders in innovation?
Kadergueli Hassanatou Abdel-Nasser
Prioritizing women’s leadership and participation delivers better climate outcomes. Women’s participation in local climate action is associated with better resource governance, conservation outcomes, and disaster readiness. In the private sector, diversifying corporate boardrooms and C-suites has been shown to lead to more climate-friendly policies. In green transition, women’s voices and leadership should be incorporated into climate governance at local and national level and into multilateral climate dialogues and the private sector. The World Bank is already helping countries integrate gender into climate investments—to ensure that the key transitions in energy; agriculture, food, water, and land; cities; transport; and manufacturing benefit women and men—and to mobilize financing to support gender and climate goals.
Expert: Abigail Dalton
Let’s now take a look at a brief video that highlights the importance of accelerating gender equality.
vimeo.com/...
Moderator: Kristyn Schrader-King
Great discussions
Trisca Changwe
The proposed World Bank Gender Strategy 2024-30 puts forward the bold ambition to accelerate gender equality for a sustainable, resilient, and inclusive future in alignment with the World Bank Evolution Roadmap. The Strategy responds to the global urgency, fundamentality, and complexity of achieving gender equality. Building on implementation of the WB Gender Strategy 2016-23, the new strategy proposes to engage with greater ambition – approaching gender equality for all as essential for global development – and to engage differently.
Gender Strategy:
www.worldbank.org/...
Moderator: Kristyn Schrader-King
Our second Panel will focus on private sector and civil society leaders who will explore innovative programs that put more financing and resources in the hands of women.
Moderator: Kristyn Schrader-King
Thank you Hanan for inspiring with your story
Nancy Lonyia
My question and in a way a request: (i) can the Strategy incorporate an annexure of country/ region contacts for participation in gender development projects, and (ii) how NGOs/ Civil Society Organisations can participate - who to contacts or how (e.g., submission of project proposals)
Modjadji
We welcome comments on the Strategy at the website:
www.worldbank.org/...
Expert: Abigail Dalton
Joining us on this panel are:
• Ms. Leïla Doukali, National President of the Association of Women Business Leaders of Morocco
• Ms. Ruth Zaipuna, CEO, NMB Bank
• Mr. Andrew Torre, Regional President for Central and Eastern Europe, Middle East and Africa, Visa Inc.
• Ms. Faith Lumonya, Economic Justice and Climate Action Lead, Akina Mama wa Afrika
Moderator: Kristyn Schrader-King
Question to Leila Doukali: How does AFEM support women entrepreneurs? What examples can you share of how associations like yours harness collective action to foster innovation?
Moderator: Kristyn Schrader-King
I am enjoying the presentations. Munay is a very interesting perspectives on women and access to finance.
Dr. Nancy Omolo
We encourage you to post YOUR questions here in the Live Chat.
Moderator: Kristyn Schrader-King
What decisions or programs are being implemented to make sure women thrive in developing countries?
Shanice Hunte
The Women Entrepreneurs Finance Initiative (We-Fi) is an example of a global initiative designed to support women entrepreneurs in developing countries by scaling up access to financial products and services, building capacity, expanding networks, offering mentors, and providing opportunities to link with domestic and global markets. We-Fi programs are now operating in 67 countries with more than 400 partner organizations and have helped get $3.3 billion in funding and capacity-building to over 170,000 Women-led SMEs since our founding.
To learn about We-Fi
we-fi.org/
ExpertFarid Tadros
Quite inspiring stories about successful entrepreneurship by women. My is another story where after the death of my husband in 2004, I had to take over and run a 341 hectare farm independently. I pulled all odds to win international gold award and national awards. Due to cultural and economic exclusion, and economic challenges, I was forced to stop exportation of fruits and vegetables I had single handedly had ventured into.
Mayiwepi Jiti
Women needs support financially, because they have a higher potential to reach greater heights. Women generally are honest and very hard working.
Mayiwepi Jiti
Question to Ruth Zaipuna: You took the pioneering decision for your bank, NMB, to be the first to issue a Gender Bond in sub-Saharan Africa to finance women-led enterprises. What can you tell us about investor interest in gender-inclusive instruments? Maybe you can start off by highlighting how NMB has been championing inclusive and sustainable growth?
Moderator: Kristyn Schrader-King
We need to increasingly promote such lived experiences! Story telling....
Bacha Kebede Debela
How do we have access to the We-Fi initiative. I am woman in leadership at a financial institution in Zimbabwe spearheading women empowerment and financial inclusion.
Patience Chinomona
The Women Entrepreneurs Finance Initiative (We-Fi) operates in over 67 countries and its programs are implemented by 7 Multilateral Development Bank partners. To find an We-Fi program or partner operating in your country, see here:
we-fi.org/where-we-work/
ExpertFarid Tadros
Question to Andrew Torre: As we know, a global organization such as Visa engages with public and private-sector stakeholders across multiple touchpoints. What are some of the systemic barriers in women’s access to finance, and what are the opportunities to address them at a global scale?
Moderator: Kristyn Schrader-King
Thanks Ruth! What's the geographical coverage for the NMB bank. If you could shed more insights on Jasiri bond or perhaps a write-up on the same.
Rachelle
The narrative of economic empowerment and women’s labour participation does not offer the realistic picture - women work more than men. They work in informal sectors and prop up economies through unpaid and low paid domestic and care work. How is the Bank going to recognise this? Women don’t need opportunities, they need fully funded public services free from BWI mandates fiscal consolidation that will ease the burden of care work.
Amy
We know the power of scaling innovative, effective policies and programs that reduce gender gaps in economic sectors, expand women’s economic opportunities, and improve their economic outcomes. Addressing access to capital, providing skills training, and supporting secure and enforced legal reforms and institutional enablers are all essential components of increasing women’s economic empowerment. And increasingly, projects are addressing the social and gender norms which can inhibit the sustainability and success of these interventions. Bank projects are moving towards a multi-pronged approach to women’s economic participation, recognizing the urgency of addressing constraints at every level. By providing not only access to finance, but also complementary interventions such as skills trainings, addressing the enabling environment, and ensuring that interventions are norms-aware, these projects can have a meaningful and sustainable impact on improving women’s economic empowerment at every level. In addition, the WB and partners have launched the global Childcare Incentive Fund which will take a whole-of-World Bank approach to support countries to design and implement better childcare programs, improve policies, build capacity, generate data, and provide evidence on the impacts of childcare on women’s empowerment, early childhood development, and inclusive economic growth.  This Fund will catalyze at least $180 million in new funding to ensure quality, affordable childcare in available in low- and middle-income countries worldwide.
Expert: Abigail Dalton
Question to Faith Lumonya: We know that women are bearing the brunt of climate change – and they are also critical in helping communities build climate resilience. In your view, what can we learn from the efforts of grassroots movements, and particularly youth and women, in working towards gender equality and climate justice?
Moderator: Kristyn Schrader-King
That was inspiring to hear about the Gender bond. What has been the impact in terms of the bank funding women owned businesses.
Futhi
How does the Gender bond work?
Adza Stella Vajime
As part of efforts to bring greater clarity on what the bond market can do to advance gender equality, IFC, in partnership with UN Women and the International Capital Market Association, developed Bonds to Bridge the Gender Gap: A Practitioner’s Guide to Using Sustainable Debt for Gender Equality. The guide provides a framework to the market on how sustainable debt instruments can be used to advance gender equality in both the public and private sectors. For more information see here
www.ifc.org/...
ExpertFarid Tadros
Thank you for the insight
George Oluwatobiloba Hannah
Congratulations Ruth Zaipun from NMB for being the first in Africa to initiate the gender bonds.
Susan Bipa
good points
anon
Well done Ruth Zaipun from NMB for being the pioneers in sub-Saharan Africa to introduce the gender bonds. That's the way to go in sustainable finance addressing gender ineqqualities.
Patience Chinomona
To contribute to today's economic progress, women should be educated and technology-literate, how that is addressed?
Manal Elbashir
The World Bank’s support for girls’ education has grown significantly in recent years, across all types of engagements. The priority is both mitigating the pandemic impacts an building back better education systems.  For example, in Angola, the Girls Empowerment and Learning for All Project includes a scholarship program for 900,000 youth, ‘second chance’ education for those who’ve dropped out of school, building safe new classrooms, supporting health services for adolescents, and providing gender-sensitive teacher-training. In is working to address a large and rapidly growing population of out-of-school children and youth, particularly girls – a situation further exacerbated by COVID-19. The project provides incentives for girls to transition from primary to secondary level by offering registration bonus and scholarships.
Expert: Abigail Dalton
We know of infrastructure bonds, green bonds but not heard the gender bond. That's amazing that over 50% of the investors were women! How do we get governments and financial institutions in other countries interested in this?
Jacqueline Muthura
Here are examples of Gender Bonds that have been issued by ADB, IDB, and IFC.
pressroom.ifc.org/...
pressroom.ifc.org/...
www.idbinvest.org/...
www.idbinvest.org/...
www.adb.org/...
www.ifc.org/...
ExpertFarid Tadros
What programs are in place for gender financial inclusivity
Mayiwepi Jiti
Women entrepreneurs face significant barriers to achieving their full potential, including policies, institutional biases, and social norms that disempower them, in addition to a daunting $1.7 trillion financing gap globally according to IFC research. The Women Entrepreneurs Finance Initiative (We-Fi) is a global partnership of 14 donors and 7 Multilateral Development Bank partners that was launched in 2017 to support women entrepreneurs by scaling up access to financial products and services, building capacity, expanding networks, offering mentors, and providing opportunities to link with domestic and global markets. We-Fi programs are now operating in 67 countries with more than 400 partner organizations and have helped get $3.3 billion in funding and capacity-building to over 170,000 Women-led SMEs since our founding.
To learn about We-Fi
we-fi.org/
ExpertFarid Tadros
Now we’ll turn to responding to questions posted online before and during the event.
Moderator: Kristyn Schrader-King
Women Economic strategy is key, that is why the Women Economic Assembly ( WECONA) is focussing on facilitation economic participation of women through the supply chain of industry sectors.
Futhi
Yes, Collective Action is imperitive...
Thomas Francis Doyle
Thank you
Lina El Alam
Thank you for an informative session
Mpetjane Kgole
Thanks a lot
GATIMU@SoW!SE AFRICA
Andrew did a great job
Diana Irungu
Who is paying attention to the elderly (70 +) relative to digital transformation and digital literacy in the society? So much is being said about women's empowerment but in my view, the term actually excludes specific attention to elderly women.
Sylvia Rose-Ann
Addressing women’s digital literacy, especially for vulnerable women, is urgent. Skills such as basic computer skills and digital literacy, social media and digital communication skills, e-commerce and online entrepreneurship, digital marketing and online branding are critical to ensuring women can benefit from and thrive in the ongoing digital and green transition and enter high-value, male-dominated sectors. Complementing such digital skills training with soft skills, engaging role models, and creating structured linkages to the labor market through internships, apprenticeships, and job placement programs can have positive outcomes. Women with disabilities, older women, women residing in FCV settings, and illiterate adults may require tailored curricula and flexible programs with active outreach to develop their basic digital skills. Designing gender-smart training programs that could address women’s time and mobility constraints are also key to ensuring uptake and completion of such trainings.
Expert: Abigail Dalton
That concludes the discussion. Thank you to all who tuned in! Please continue sharing your comments online with the hashtag #WBMeetings.
Are you looking for more resources on gender equality? Check our related resource section on this page!
Let’s continue to accelerate gender equality together!
Moderator: Kristyn Schrader-King
Thanks for the interesting session.
Rachelle
Thank you
Susan Bipa
Great Conversation Thanks
Sherif Mustafa
Thanks for the wonderful sessions
Nancy Lonyia
Thank you!! I wanted to tap into the point just made about training to encourage innovation- education is really the answer to empowering women.
Jessica L. Proffitt
Thank you
Epifania Vasquez Luis
Thank you. Very insightful and engaging conversations
Patience Chinomona
Great and insightful discussion. While I agree that the question of innovation is important, I believe inclusion is even more critical and urgent. The status quo thrives on marginalizing certain communities so if we are to make any meaningful progress, we will need to aggressively address inequality.
Afandi M
Annual Meetings 2023
World Bank Group Public Events
From October 9 to 15, we brought you live events that focused on ending poverty on a livable planet.
Watch a series of live events featuring country voices and global leaders, available in
Arabic
French
and
Spanish
Program of Events
Speakers
Anna Bjerde
Managing Director of Operations, The World Bank
bjerde_anna
Anna Bjerde
Amina J. Mohammed
Deputy Secretary-General, United Nations
@AminaJMohammed
Amina J. Mohammed
Rania Al-Mashat
Minister of Planning, Economic Development & International Cooperation, Egypt
@RaniaAlMashat
Rania Al-Mashat
Andrew Torre
Regional President for Central and Eastern Europe, Middle East and Africa (CEMEA), Visa Inc.
Andrew Torre
Ruth Zaipuna
Chief Executive Officer, NMB Bank Plc
Ruth Zaipuna
Valeria Diaz Romero Urdininea
CEO and Co-Founder, Munay
Valeria Diaz Romero Urdininea
Hanan Shahin
Co-Founder & CEO, Bloomcart
Hanan Shahin
Faith Lumonya
Economic Justice and Climate Action Programme Lead, Akina Mama wa Afrika
@FaithLumonya
Faith Lumonya
Leïla Doukali
National President, Association of Women Business Leaders of Morocco
@DoukaliLeila
Leïla Doukali
Moderator
Rachelle Akuffo
International Business News Anchor
@RachelleAkuffo
Rachelle Akuffo
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