12/1/2023 0 Comments Female in finance![]() In her book, “The Moment of Lift,” Melinda Gates reflects on how long it took her to realize that empowering women was the single most powerful lever for improving the lives of all human beings. So how can the financial inclusion community contribute to this very ambitious goal? Connecting the dots between women’s financial inclusion and economic empowerment ![]() Without fully including women, we won’t solve financial inclusion - or, for that matter, end extreme poverty and promote shared prosperity. Reducing the gender gap requires that we put a gender lens on everything we do. These outdated approaches will not halve (and eventually eliminate) the persistent 9 percent gender gap in financial inclusion, which CGAP committed to help close in its latest five-year strategy. In the past, gender sat off to the side, either as a project on its own or a “cross-cutting issue” that was everyone's and therefore no one’s responsibility. ![]() Why did we take this step? It was to put women’s financial inclusion at the center of everything we do at CGAP. But it will make a profound difference to how CGAP approaches its work going forward. At the same time, we updated our vision statement by adding two small words: “A world where poor people, especially women, are empowered to capture opportunities and build resilience through financial services.” Many readers may not have even noticed this change. In early 2020, CGAP moved beyond the access and usage paradigm in financial inclusion and set its sights on understanding how poor people could use financial services to improve their lives in three ways: generating income, accessing essential services and protecting basic standards of living. There is a third power stronger than both, that of women.” “There are two powers in the world one is the sword and the other is the pen. The bottom line is diversity increases employee morale, which makes employees more productive and happier at work. This will instil a desire in your team to work more efficiently and will significantly increase the productivity of your business.This post is also available in Arabic and French and Spanish on the FinDev Gateway. For students, take classes and seek out peers/ mentors going into quantitative/ financial fields, even if it isn't what you end up doingįinance skills should be essential for everyone as they are a lifelong skill to have. It is not wasted education to The anecdote to fear is action. The fear will never truly go away, so there’s no point in waiting for that. It’s just wasted time. Feel the fear and do it anyway. You may be pleasantly surprised by what is on the other side of that fear. Have confidence to take the leap in applying for and trying for things you don't feel 100% ready for, because you'll never feel fully ready This allows team members to feel comfortable with who they are, safe to be themselves, and feel accepted within a team environment. It also allows everyone to bring their unique perspective to the table, thereby benefitting the company they are working for in that unique perspectives attract a diversified clientele. ![]() If I can move the needle even one inch for the LGBT community in empowering others to be who they truly are, without any apprehension of its deviation from "normal" and the perceived difficulties that may bring, it will make me more fulfilled than any on paper success could ever bring." Stephanie offers some well thought out tips to other LGBT women: Every team is better off when every member brings their unequivocally truest self to the table “I hope my decision to go into finance/ go to Wall Street can help even one girl who is struggling with coming out, sees that gay women having successful careers and providing for their families is certainly possible. For that reason, loving whomever you want and living your truest self can be done without the fear of the lifestyle that may come with it. Motivated by these statistics, Stephanie is determined to ultimately debunk the myth that men represent financial security or should be at the helm of providing when it comes to finances in a relationship, saying “there’s no true equality without financial equality. ![]()
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