“When you empower a man, you empower an individual; when you empower a woman, you empower a nation.” HE Tebelelo Seretse, Ambassador of Botswana to the United States, spoke these words at a panel discussion, Africa Rising: Unconventional Pathways to Economic Empowerment, held recently at Meridian International Center. I could not agree more with Ambassador Seretse—empowering women yields the highest returns of all development investments. A nation’s competitiveness in the long term depends significantly on how it educates, trains, and equips half of its potential talent base, by providing them the same rights, responsibilities, and opportunities as the other half.
Women make up 50 percent of the global population, 40 percent of the global workforce, and yet only own about 1 percent of the world’s wealth. Sixty-five percent of the world’s poor and two thirds of the world’s illiterate are women. While there has been a great deal of progress in the fight against poverty, particularly since the adoption of the U.S. Millennium Development Goals (MDGs) in 2001, women remain disproportionately represented among the world’s poorest, and the gender gap continues to persist in economic, social, and political spheres.
Reducing the gender gaps in education, health, and political participation remains critical, but economic empowerment is increasingly viewed as the most important contributing factor to achieving equality between women and men. Unleashing the entrepreneurial potential of women, which drives growth through innovation and job creation, continues to be one of the most effective ways to ensure lasting empowerment.
What is most encouraging is that women worldwide are taking a step forward to make a change in their own lives. Women entrepreneurs are on the rise and are making a critical contribution in reshaping the global economy. Women-owned entities in the formal sector represent approximately 37 percent of enterprises globally—a market worthy of attention by businesses and policy makers alike. The 2012 Global Entrepreneurship Monitor (GEM) found 126 million women starting or running businesses, and 98 million operating established (over three and a half years) businesses.
The rate of female entrepreneurship is higher in Africa than in any other region in the world. Sub-Saharan Africa is in the midst of an entrepreneurial revolution that is invigorating the region with new opportunities, increased employment, and a robust rise in gross domestic product to one of the highest GDP growth rates in the world.
I was struck by Rahama Wright’s inspiring story which she shared at a Meridian event on economic empowerment. Rahama founded Shea Yeleen International at the age of 24, and now helps more than 700 women in West Africa earn a living by organizing and training women-owned cooperatives to produce, market, and sell high quality Shea butter globally. As a first generation Ghanaian-American, Rahama truly connected to the struggles of many of the women in her village community, and assisted these women in maximizing their local resources to become entrepreneurs in the global marketplace. In her words: “I have always thought about how I could have very easily been in these women's shoes, facing the same struggles. I feel like I am between two worlds and have a responsibility to make a contribution to a life that could have been my own." Rahama made a true difference in the lives of these women. Her story is a testament to the undeniable truth that women are, in fact, the backbone of society, and that when we empower a woman, we empower a nation.
While there is great potential in this trend, not enough is being done to support women entrepreneurs, and there exists many impediments to women’s economic empowerment. What can we do to guarantee that this trend continues? How can we ensure that women become the driving force of entrepreneurial growth? What reforms should be pursued in order to pave the way for more opportunities for women entrepreneurs?
I believe that it is vital to take practical action steps to support women’s economic empowerment. Women entrepreneurs need to have: 1) access to education, training, and technology; 2) access to credit, capital, and markets; and 3) representation in decision making positions and governance structures. There is a strong need for public-private partnerships to support the efforts of entrepreneurship, and particularly programs developed for education, training and capacity building for women across the globe. Women entrepreneurs need more resources to build collaborations, leverage innovative ideas, share best practices, and develop their entrepreneurial abilities.
I am proud to say that my organization, Meridian International Center is committed to empowering women worldwide. Our programs provide opportunities for women to acquire skills, knowledge, networks, and insights to address gender inequities and affect positive change. Meridian’s Council on Women’s Leadership (CWL) connects and educates leaders from diverse fields and disciplines who have a shared interest in impacting women’s empowerment and strengthening leadership opportunities. We have partnered with the U.S. Department of State, as well as non-governmental and private sector organizations, to shine light on stories of women affecting change around the world and to promote women’s empowerment.
Meridian has the great honor of administering the U.S. Department of State’s signature annual leadership exchange program, the African Women’s Entrepreneurship Program (AWEP), which brings women entrepreneurs from Sub-Saharan Africa to the United States to receive training and professional development, and to network and share best practices with U.S. policy makers, non-profit organizations, business leaders, and development institutions. We have also partnered with the private sector and not-for-profit organizations on extraordinary initiatives to advance women’s empowerment, notable among them are the George W. Bush Institute’s Women’s Initiative Fellowship program, which empowers and equips women to become effective leaders, and Goldman Sachs’ 10,000 Women Initiative, which invests in women to reduce inequality, enable economic growth, and facilitate economic and gender empowerment. Partnerships in such initiatives embody Meridian’s mission to educate and equip global leaders, to strengthen international understanding, and to affect positive change for women in the political, economic and social spheres.
Women make significant contributions to the economy in businesses, on farms, as entrepreneurs and employees, and by undertaking the bulk of unpaid care at home. There needs to be a concerted action to empower women by educating them and providing them with income generation skills and training. Women ought to be empowered to make choices and decisions and to use their rights, resources and opportunities. They ought to have equal access to jobs, market, capital, landownership, and control over resources. Tapping the enormous potential of women makes perfect sense and we should all play a part. Governments, non-governmental organizations, and the private sector all have a role to play in collectively empowering women.
Ambassador Stuart W. Holliday is President and CEO of Meridian International Center. He served as U.S. Ambassador to the United Nations for Special Political Affairs from 2003 to 2005.
Photo: Rahama Wright, founder of Shea Yeleen International shares her inspiring entrepreneurial story at Meridian’s event, Africa Rising: Unconventional Pathways to Economic Empowerment. By Joyce Boghosian.
This article was originally published in the Diplomatic Courier's March/April 2014 print edition.
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Women’s Economic Empowerment and Entrepreneurship on the Rise
March 21, 2014
“When you empower a man, you empower an individual; when you empower a woman, you empower a nation.” HE Tebelelo Seretse, Ambassador of Botswana to the United States, spoke these words at a panel discussion, Africa Rising: Unconventional Pathways to Economic Empowerment, held recently at Meridian International Center. I could not agree more with Ambassador Seretse—empowering women yields the highest returns of all development investments. A nation’s competitiveness in the long term depends significantly on how it educates, trains, and equips half of its potential talent base, by providing them the same rights, responsibilities, and opportunities as the other half.
Women make up 50 percent of the global population, 40 percent of the global workforce, and yet only own about 1 percent of the world’s wealth. Sixty-five percent of the world’s poor and two thirds of the world’s illiterate are women. While there has been a great deal of progress in the fight against poverty, particularly since the adoption of the U.S. Millennium Development Goals (MDGs) in 2001, women remain disproportionately represented among the world’s poorest, and the gender gap continues to persist in economic, social, and political spheres.
Reducing the gender gaps in education, health, and political participation remains critical, but economic empowerment is increasingly viewed as the most important contributing factor to achieving equality between women and men. Unleashing the entrepreneurial potential of women, which drives growth through innovation and job creation, continues to be one of the most effective ways to ensure lasting empowerment.
What is most encouraging is that women worldwide are taking a step forward to make a change in their own lives. Women entrepreneurs are on the rise and are making a critical contribution in reshaping the global economy. Women-owned entities in the formal sector represent approximately 37 percent of enterprises globally—a market worthy of attention by businesses and policy makers alike. The 2012 Global Entrepreneurship Monitor (GEM) found 126 million women starting or running businesses, and 98 million operating established (over three and a half years) businesses.
The rate of female entrepreneurship is higher in Africa than in any other region in the world. Sub-Saharan Africa is in the midst of an entrepreneurial revolution that is invigorating the region with new opportunities, increased employment, and a robust rise in gross domestic product to one of the highest GDP growth rates in the world.
I was struck by Rahama Wright’s inspiring story which she shared at a Meridian event on economic empowerment. Rahama founded Shea Yeleen International at the age of 24, and now helps more than 700 women in West Africa earn a living by organizing and training women-owned cooperatives to produce, market, and sell high quality Shea butter globally. As a first generation Ghanaian-American, Rahama truly connected to the struggles of many of the women in her village community, and assisted these women in maximizing their local resources to become entrepreneurs in the global marketplace. In her words: “I have always thought about how I could have very easily been in these women's shoes, facing the same struggles. I feel like I am between two worlds and have a responsibility to make a contribution to a life that could have been my own." Rahama made a true difference in the lives of these women. Her story is a testament to the undeniable truth that women are, in fact, the backbone of society, and that when we empower a woman, we empower a nation.
While there is great potential in this trend, not enough is being done to support women entrepreneurs, and there exists many impediments to women’s economic empowerment. What can we do to guarantee that this trend continues? How can we ensure that women become the driving force of entrepreneurial growth? What reforms should be pursued in order to pave the way for more opportunities for women entrepreneurs?
I believe that it is vital to take practical action steps to support women’s economic empowerment. Women entrepreneurs need to have: 1) access to education, training, and technology; 2) access to credit, capital, and markets; and 3) representation in decision making positions and governance structures. There is a strong need for public-private partnerships to support the efforts of entrepreneurship, and particularly programs developed for education, training and capacity building for women across the globe. Women entrepreneurs need more resources to build collaborations, leverage innovative ideas, share best practices, and develop their entrepreneurial abilities.
I am proud to say that my organization, Meridian International Center is committed to empowering women worldwide. Our programs provide opportunities for women to acquire skills, knowledge, networks, and insights to address gender inequities and affect positive change. Meridian’s Council on Women’s Leadership (CWL) connects and educates leaders from diverse fields and disciplines who have a shared interest in impacting women’s empowerment and strengthening leadership opportunities. We have partnered with the U.S. Department of State, as well as non-governmental and private sector organizations, to shine light on stories of women affecting change around the world and to promote women’s empowerment.
Meridian has the great honor of administering the U.S. Department of State’s signature annual leadership exchange program, the African Women’s Entrepreneurship Program (AWEP), which brings women entrepreneurs from Sub-Saharan Africa to the United States to receive training and professional development, and to network and share best practices with U.S. policy makers, non-profit organizations, business leaders, and development institutions. We have also partnered with the private sector and not-for-profit organizations on extraordinary initiatives to advance women’s empowerment, notable among them are the George W. Bush Institute’s Women’s Initiative Fellowship program, which empowers and equips women to become effective leaders, and Goldman Sachs’ 10,000 Women Initiative, which invests in women to reduce inequality, enable economic growth, and facilitate economic and gender empowerment. Partnerships in such initiatives embody Meridian’s mission to educate and equip global leaders, to strengthen international understanding, and to affect positive change for women in the political, economic and social spheres.
Women make significant contributions to the economy in businesses, on farms, as entrepreneurs and employees, and by undertaking the bulk of unpaid care at home. There needs to be a concerted action to empower women by educating them and providing them with income generation skills and training. Women ought to be empowered to make choices and decisions and to use their rights, resources and opportunities. They ought to have equal access to jobs, market, capital, landownership, and control over resources. Tapping the enormous potential of women makes perfect sense and we should all play a part. Governments, non-governmental organizations, and the private sector all have a role to play in collectively empowering women.
Ambassador Stuart W. Holliday is President and CEO of Meridian International Center. He served as U.S. Ambassador to the United Nations for Special Political Affairs from 2003 to 2005.
Photo: Rahama Wright, founder of Shea Yeleen International shares her inspiring entrepreneurial story at Meridian’s event, Africa Rising: Unconventional Pathways to Economic Empowerment. By Joyce Boghosian.
This article was originally published in the Diplomatic Courier's March/April 2014 print edition.
