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Workshop for Microfinance Executives Gives Women’s Leadership a Boost—Globally

In countries such as Bangladesh, Jordan, Tunisia, Zimbabwe and Colombia, the idea of women taking leadership roles is often new, and the obstacles women executives face can be formidable. In order to sharpen their leadership skills and learn how to be stronger, more effective leaders in their organizations, 28 senior and mid-level women microfinance executives from these and other developing countries came together July 16 to 20 at WWB's second annual Women in Leadership Workshop. Held in New York City, the workshop also attracted attendees from India, Pakistan, the Philippines, Morocco, Russia, Gambia, Kenya, Uganda, the Dominican Republic and Mexico.

Participants at the Women's Leadership Workshop (left to right): Madhvi Desai, Finance Manager, FWWB India; Adjnadine Samran, PR and External Communications Officer, Microfund for Women, Jordan; Ms. Mandas Marikanda, Executive Director, Pundutso Microfinancing, Zimbabwe; and Harriet Magomu Wamasali, Human Resources Manager, Uganda Finance Trust.

Microfinance – small loans and other financial services targeted to the very poorest entrepreneurs, especially women – is sweeping the globe as an effective tool for fighting poverty. Deliberately targeting women clients, who overwhelmingly invest their earnings in the well-being of their families, has proved to be the key to success.

In recent years, however, microfinance has been so successful in reaching low-income clients that many new players are entering the field, including major commercial banks. At the Women’s Leadership Workshop, Women’s World Banking President Mary Ellen Iskenderian pointed out the importance of focusing on women’s leadership development: “The industry we are a part of, that has had such an impact on people’s lives, is potentially a victim of its own success. As we see more commercialization in this industry, we are seeing a very clear trend: women clients are less represented and women leaders are becoming fewer and fewer.”

Without dynamic, committed women leaders, the microfinance industry is in danger of losing its focus on the poorest women clients. The urgent need to nurture women microfinance leaders is the reason why Women’s World Banking launched its Women’s Leadership Development program in 2006 in partnership with the Wharton Center for Leadership and Change Management at the University of Pennsylvania and Accenture, the global management consulting firm. Accenture has had a multi-year relationship with Women’s World Banking, providing it with strategic consulting and other services.

The women executives who attended the five-day workshop this year included Managing Directors, Regional Directors, Branch Managers, Finance Managers, Coordinators of Human Resources, a Capacity Building Manager, a Budget Officer, an Assistant Personnel Officer, a Director of Financial Planning, a Credit Manager, a Communications Officer and a Market Research Officer. Each individual was nominated to attend the course by her institution’s Executive Director, indicating an institutional commitment to and recognition of these individuals’ leadership potential.

One of the participants from Kenya commented on the course: “It’s very interactive. You get to know yourself. You hear others’ experiences and you can empathize with them.” Another from Tunisia said: “I’ve learned that I’m a leader. In my country we don’t talk about women being leaders.”

The faculty included Professor Michael Useem of the Wharton Center and Anne Cummings, Associate Professor of Management from the University of Minnesota, in addition to WWB’s staff trainers Cecille Zacarias and Inez Murray and other experts. The workshop combined theory and gender research with hands-on training sessions on topics such as Organizational Culture, Strategy and Structure; Individual Domain Assessment; Basic Skills and Strategies of Negotiation and Time Management. Break-out sessions enabled participants to engage in role-playing to hone practical skills. Sessions were conducted in English and simultaneous Spanish translation was provided for the eight participants from Latin America.

Everyone involved, including the trainers, were energized by the workshop meetings. “This was an extremely talented group of people,” said Mike Useem of the Wharton School. “As soon as I walked into the room I could feel the high level of energy. I work with many groups of people all over the world, and this one was as strong and articulate and as well-prepared as any.”

In addition, a luncheon panel discussion featured such high-level speakers as Carla Harris, Managing Director of Global Capital Markets at Morgan Stanley, an African-American who was named to Fortune magazine’s list of the 50 Most Powerful Black Executives in Corporate America, Nancy Barry, former President of Women’s World Banking, and Beth Roberts, Senior Executive in Accenture’s Financial Services industry group. Their advice to the women leaders of tomorrow can be summed up in three main points: be true to yourself; don’t be afraid to take risks; and respect and honor the people in the room.

This year’s workshop also featured an exciting new element: Morgan Stanley brought in six women executives as volunteers, who will serve as mentors to selected participants. These relationships bring leaders together across long distances, via phone and email, to share their challenges and concerns and to provide guidance and support to one another as they continue their leadership journeys.