NEW YORK, March 21, 2011 – Women’s World Banking (WWB), the largest global network of microfinance institutions and banks dedicated to the economic empowerment of women, announced today that Kenya Women Finance Trust DTM (KWFT-DTM) will receive WWB’s inaugural Excellence in Leadership Award. The award, presented in partnership with The MasterCard Foundation, recognizes a microfinance institution within the WWB network that demonstrates a commitment to gender diversity, principled leadership and excellence in financial and social performance. The Excellence in Leadership Award was designed to promote WWB’s hopes of inspiring transformation in the microfinance industry, shifting the perception of gender diversity from an elective initiative to a fundamental requirement for sustainable institutions.

KWFT-DTM was recognized with this distinction due to their explicit workforce diversity program, which is designed to ensure that women continue to be represented at all levels of the institution’s structure – from the executive team to the field – in addition to their commitment to serving women clients. “KWFT-DTM is a truly remarkable organization and we are proud that they are a member of the Women’s World Banking network,” said Mary Ellen Iskenderian, President and CEO of WWB. “Each of the finalists displayed a number of the industry’s best practices for achieving gender diversity. KWFT-DTM’s unwavering commitment to empowering women – not only for their clients, but also for their employees – is truly inspiring and should serve as a model for all organizations striving to support diversity.” A case study of the institution can be found here.

WWB identified four finalists from its network using a thorough review process that evaluated organizations’ respective initiatives and strategies supporting gender diversity and women’s leadership. The initiatives were then assessed using five criteria including commitment by senior leadership, link to the organization’s vision and objectives, accountability systems, internal and external communication and results of the initiative. Other finalists included Microfund for Women (Jordan), Fundación Mundo Mujer Popayá (Colombia) and Shakti Foundation for Disadvantaged Women (Bangladesh). “By celebrating the achievements of organizations like Kenya Women’s Finance Trust, Women’s World Banking is bringing gender diversity to the forefront of the microfinance industry,” said Reeta Roy, President and CEO of The MasterCard Foundation. “The MasterCard Foundation is thrilled to be a partner in the Excellence in Leadership Award.”

Founded in 1981 by a group of women lawyers, bankers, and entrepreneurs as an institution devoted to addressing the financial needs of women, KWFT-DTM has risen to be one of the most successful microfinance institutions in the country with the largest outreach of any MFI, serving more than 400,000 clients in both rural and urban areas of Kenya. KWFT-DTM is also the only financial institution to focus solely on women clients in Kenya.

The Excellence in Leadership Award was presented to KWFT-DTM at the Women’s World Banking 2011 Global Dinner Celebration on Monday, March 21, 2011 in New York City. About WWB WWB is a leading global network of 40 microfinance providers and banks, working in 28 countries to bring financial products and services to low-income entrepreneurs, especially women. The network is supported by an international team of experts based in New York who deliver expertise in product design and distribution, access to capital markets, and customer care and insight. The network serves over 24 million micro-entrepreneurs, 80% of whom and women. For more information on WWB, please visit its website at www.womensworldbanking.org.

About The MasterCard Foundation The MasterCard Foundation believes that people have the potential to transform their lives and to improve the lives of their families and communities. Through collaboration with committed partners, The MasterCard Foundation is increasing access to microfinance and youth education, helping people living in poverty to learn and prosper. The MasterCard Foundation has programs in 33 countries. An independent, private foundation based in Toronto, Canada, The MasterCard Foundation was established through the generosity of MasterCard Worldwide at the time of the company’s initial public offering in 2006. For more information, please visit www.mastercardfdn.org