June 3, 2011
Microfinance Institution’s Expanded Vision Sees Women as Employees, Managers … Even Board Members
2011 Global Summit of Women Showcases Bai Tushum’s Work with Women
Women’s economic growth and gender equality increasingly are objectives of international development efforts. Yet even as the language and ideas behind them become more common, few know how to design sustainable programs to achieve these ends.
At the 2011 Global Summit of Women in Istanbul—sort of a Davos World Economic Forum on gender issues—women leaders from around the world met recently to learn from each other and share successful efforts on how to expand women’s economic opportunities and participation in public decision making. The summit attracted more than 1,000 participants from over 80 countries.
One shared example was Bai Tushum & Partners, a microfinance institution in Kyrgyzstan, which looks at women not only as clients but also as valued employees, managers and even board members, says Gulnara Shamshieva, Bai Tushum general manager, who spoke on the summit panel, “Financing Your Business for Growth.”
She credits Bai Tushum’s full integration of women into its decision-making processes as the primary reason the institution has grown from its early roots as an ACDI/VOCA development project to a leader in the microfinance sector, with more than 100,000 clients and a loan portfolio of approximately $50 million.
Women Bring Economic, Social Gains
Women have been crucial to Bai Tushum’s success, says Shamshieva, who as the general manager serves in a key leadership role. Over its 10 years, Bai Tushum has provided more than $150 million in loans to its clients.
Consider these Bai Tushum facts:
- 100 percent of top managers are women (compared to the 35 percent average in Central Asia).
- 50 percent of loan officers are women (compared to the 32 percent average in Central Asia).
- 40 percent of board members are women.
- 41 percent of all personnel are women.
- 44 percent of clients are women.
Bai Tushum’s investments to protect the rights and interests of women have paid off in stronger loan portfolios and small business development. For example, Bai Tushum has seen its women clients respond better than men to group lending and financial literacy programs. Women, even rural women with low social and economic levels, have a high aspiration to learn, Shamshieva says.
Women clients also have successfully graduated from group to individual loans, and many have started small businesses with loans up to $6,000.
Moreover, women are investing these gains in improvements for their families, like paying for school fees and health care services.
Full Integration of Women in Business, Decision Making
U.N. Secretary-General Ban Ki-Moon—the recipient of the 2011 Global Women’s Leadership Award and speaker at the summit—underscored the importance of integrating women fully into business and decision making.
“Despite important gains in women’s advancement and empowerment, in too many societies, I am sorry to say, women remain second-class citizens,” he says. “Women need not just to ‘do a good job;’ they need to be in leadership positions.”
Women perform 66 percent of the world’s work, including producing 50 percent of the world’s food, yet they earn 10 percent of the income and own 1 percent of the property, according to the United Nations and World Bank. Experts estimate that closing the employment gender gap could boost gross domestic product (GDP) in emerging market countries by 14 percent.
“The gender dimension is crucial to help rapidly growing next-wave economies increase their productive capacities,” Ban Ki-Moon says.
Looking Forward
The summit participants, including ACDI/VOCA Managing Director Sally Iadarola, also explored the next wave of opportunities to empower women: global sourcing from women vendors, women’s role in water conservation and gender equity as part of corporate social responsibility.
A common theme emerged from these discussions: Women and men must work together to achieve improvements for their families and communities.
“This year’s summit de-emphasized women as victims and promoted women as the solution in full partnership with men in pursuit of empowerment and full equality,” Iadarola says. “Looking to the future—that’s exactly where we want to be.”
Learn about ACDI/VOCA's commitment to gender equity.
