There are two theories circulating about why we are witnessing the most exciting World Cup ever. The first is that we have a new ball, the Brazuca, so superior in design that it practically channels players’ thoughts. The second is that we are witnessing a shift in the way the game is played, moving it into an attacking rather than defending game that everybody loves.
I was interviewed a few months ago by a PhD student positing that there is a new momentum in the Women’s Economic Empowerment space. She asked me if there were particular events or forces that I thought had catalyzed it. Being a fan of the World Cup, I can’t help considering the parallel: No matter which events or forces have changed the ways we are empowering women, what we are witnessing is more exciting for everybody.
This evolution became even more evident to me this month, from the way that Westpac’s approach to the Women’s Market was received by the academics at Powershift, to the striking resonance it had among those Development Finance Institutions that are learning about GBA banks for the first time. The model that our banks have is forward-thinking and powerful, and it is catching on.
This year we opening up our Summit beyond our members to select non-member banks, so that more can learn about the business opportunity that the Women’s Market presents banks. Discussions will be complemented by a deep pool of talented leaders with a wide variety of perspectives on how to move economic empowerment of women forward.
Data, adds significant momentum to this shift in play. Our resource of the month, IFC’s gender baseline survey, represents a magnificent effort on IFC’s part to understand what percent of SME loans are going to women-owned businesses in their portfolio of banks. In this issue, Patience Marime-Ball, Head of IFC’s Banking On Women program gives her perspective on what the data is telling us and what the IFC intends to do about it.
Finally, this month we are particularly proud to profile latest GBA member Bank of Palestine. Operating in an extraordinarily difficult context, Hashim Shawa BOP’s Chairman and Managing Director, shares the many subtle and significant ways his bank is making a difference to Palestinian women. One great player in a growing, exciting field, his leadership is an example to us all.
Enjoy the cup, and remember that women’s empowerment will never be a spectator sport. We hope to see you all at the summit on September 17!
Inez Murray, Chief Executive Officer
Global Banking Alliance for Women
