2024 marked a watershed year for the Alliance, with members setting new benchmarks in serving women customers and women-owned businesses, while our peer learning programs reached new heights of engagement and impact.
Setting new global standards
First analysis of our latest annual performance data from our latest Female Economy Analytics Survey reveals historic achievements:
- Alliance members increased the average share of customers that are women to 44 percent in 2023, up from 39 percent in 2022.
- Members in Latin America led the way, with women reaching parity (representing 50 percent of customers on average).
- Sub-Saharan Africa members achieved record-high levels of financing to women-led businesses, accounting for an unprecedented 32 percent of total SME loan volume.
Member success stories showcase impact
Highlights from individual members reveals many achievements:
Outstanding Growth in Women’s Portfolios:
-
-
- Colombia’s Banco Davivienda lent to over 1 million women borrowers (48% of borrowers) and reached 9.7M women through its digital platform DaviPlata.
- Bolivia’s BancoSol achieved majority women depositors at 52 percent.
- Pakistan’s HBL grew its Nisa women’s savings account 21 percent a year for five consecutive years.
- Jordanian Bank al Etihad‘s Sharouq strategy saw women borrowers grow 16x since program inception, outpacing the 6x growth seen in the men’s portfolio.
- Dominican Republic’s Banco BHD has seen 17 percent annual growth in women’s loan volume since 2015, surpassing men’s portfolio’s average annual growth by 3 percent.
-
Market Leadership in Supporting WMSMEs:
-
-
- Kenya’s KCB reached gender parity in MSME accounts, with women holding 50 percent and a $932.8 million loan book.
- UK’s NatWest Group delivered 300,711 entrepreneurship support interventions in 2023, with 54 percent reaching women-owned/led businesses.
- Nigeria’s Access Bank provided $221 million in financing to 3.61 million women, while training 725,000+ through its W Academy, an initiative to support female entrepreneurs.
-
Expanding the reach and impact of our Peer Learning
2024 saw the highest participation rates and satisfaction scores to date, including:
- More than 190 students from 89 institutions in 48 countries attended the WMSME Gender Data Learning Series, rating the sessions an exceptional 4.9/5 in overall satisfaction.
- The Primer on the Strategic and Business Case for Serving WMSMEs had 490 registrations and an average turnout of 172 participants per session and an average satisfaction score of 4.6/5.
- The Alliance Hack attracted 225 applicants, with an overall satisfaction score of 4.7/5, the highest of any year since its inception in 2021.
- The 2024 Alliance Summit in London, hosted by HSBC, was a full house, convening leaders from 117 institutions across 58 countries. Unfortunately, we had to turn away many more due to capacity constraints.
Building momentum through the WE Finance Code
The WE Finance Code initiative has gained significant traction in 2024, taking off in 30+ countries. Alliance support included hosting the Community of Champions to unite 147 WE Finance Code champions from 33 countries. This public-private collaboration brought together banks, central banks, government ministries and industry associations to reshape access to finance for women entrepreneurs. In several countries, Alliance members are the leading private sector WE Finance Code Champions.
Looking ahead
As we close 2024, the Alliance network has demonstrated that intentional strategies to serve women customers drive both financial inclusion and business growth. Our members’ achievements, combined with robust educational programs and cross-sector partnerships, have laid a strong foundation for expanding women’s access to finance globally. The momentum built this year positions us well to achieve even greater impact in 2025 and beyond.
