Finance

Women’s economic empowerment critical for safeguarding food security

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Ensuring people have food security at all times and in all places is essential--and women's economic empowerment is one of the key ways to do that, whether working as vendors, feeding their families or participating in other parts of the food chain.

Cyclone Winston earlier this year, the largest to ever make landfall in Fiji, tore through the country's food supply--affecting up to 100 percent of crops in the areas most heavily hit. The storm has had a ripple effect through Fiji's entire population, economy and agricultural sector.

UN Women’s Markets for Change project, part of of the Women’s Economic Empowerment program, provides people with the resources they need to help families and the economy thrive. Click through to learn more.

asiapacific.unwomen.org - Author: Ellie van Baaren

Before the cyclone Rakesh Prakash and his family relied on the income they received from the produce they harvested on their 10-acre farm in Toge, near Ba. Twice a week they would harvest 300-400kg of eggplant, chillies, cow peas and spinach and take it to the local market to sell to market vendors, who would then on-sell it to the public.

While Mr Prakash, his wife and parents hid under their bed, flooding caused by Tropical Cyclone Winston destroyed the majority of those crops. The loss has undermined not only his own family’s livelihood, but also that of the 15-20 market vendors and countless customers who relied on his produce each day.

Preliminary assessments carried out by the Government indicate show around $120.2 million of damage to the agricultural sector, the majority of which is damage to crops. Up to 100 per cent of crops in the most affected areas have been damaged. The ripple effects are reaching the entire length of the country’s food supply chain, and beyond.

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Survey: 1 in 5 Women Earn Less Than Men For Same Work

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Wage inequality is an important--and complex--issue. CareerBuilder surveyed 3,200 workers and more than 220 human resource managers from around the United States to assess knowledge and feelings on the issue. The survey found, among other things, that 55 percent of respondents believe there is pay inequality--which means 45 percent do not believe it, an issue that still needs work. Also interestingly, one in five human resources managers surveyed admitted that women do not earn the same pay, even for the same work. Click through to read over the other findings: The more we learn about this issue and the more we speak out, the closer we are to closing the wage gap.

CareerBuilder - Today, gender equality in the workplace is top of mind for politicians, activists, business leaders and workers. According to a new CareerBuilder survey, more than half of workers (55 percent) do not believe men and women are paid equally for the same job, and a similar proportion (51 percent) do not feel men and women are given the same career advancement opportunities.

A significant number of employers agree with 20 percent of human resource managers admitting that women do not make the same wages as their male counterparts at their organizations.

More than 3,200 workers and more than 220 human resource managers in the private sector across industries participated in the nationwide survey, conducted online by Harris Poll on behalf of CareerBuilder from November 4 and December 1, 2015.

Salary Comparison

Taking a closer look at pay comparisons, men were nearly three times as likely to report earning six figures and nearly twice as likely to earn $50,000 or more. Women were twice as likely to report earning less than $35,000.

Read the rest of the findings here.

 

5 Powerful Tips For Female Professionals Who Want To Own The Table, Not Just Have A Seat

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Erica Nicole, the founder and publisher of YFS Magazine, discusses how everything from playing to your strengths and shifting the dialogue to taking chances and helping others are crucial in our work to increase the economic participation, advancement, and success of women in business.

huffingtonpost.com - As a millennial entrepreneur, I was once asked by a journalist about the challenges of being young, African-American and female. Admittedly, I was taken aback; in my career — I’ve grown a “one-woman” startup blog into a leading global business media platform — none of these perceived challenges ever held me back. I was simply executing on my vision.

“I see it as a triple-threat,” I replied with a laugh, “certainly not a challenge.” While she applauded my gusto, our conversation made me keenly aware of gender parity. She, like many others, still saw my success and advancement in media as an outlier.

I get it.

The U.S. Department of Labor says that in 2014 57 percent of working-age women participated in the labor force, compared to 69 percent of men. Writing for the McKinsey Global Institute, Laura Tyson reports that, “Women continue to lag behind men in economic participation and opportunity by 15 to 25 percent.”

Tyson, a former chair of the President’s Council of Economic Advisors, went on to suggest that “taking bold actions now to increase the economic participation and advancement of women is critical to ensuring a strong foundation for rising prosperity in the long run.” I couldn’t agree more.

So how do we, the leaders, entrepreneurs and professional game-changers, boldly and pragmatically normalize what it means to be a woman in our respective industries? Can we truly get past being the “first woman to do X”? Here’s a refreshing approach every woman can take, both personally and professionally, to claim a seat at the table, and even own it if you dare.

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Women are making less money than men in the virtual world, too

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Even in the virtual marketplace--long held to be a great equalizer for online entrepreneurs--women make less money than men, according to a new survey. Women on eBay make about 80 cents for every dollar men make, mirroring the labor force where women average 81 cents for every dollar men make. Researchers compared male and female sellers offering identical products, and say the findings are particularly interesting because there is no argument to be made in this case--as is often made in the physical workforce--of difference of performance. Researchers and others hope shedding light on the phenomenon will make people more aware of their purchasing decisions, hopefully narrowing the gap. qz.com - On the auction website eBay, women are receiving on average about 80 cents for every dollar men earn when selling the same product, according to new research.

We already know that products aimed at women, such as razors and deodorant, tend to be more expensive on the high street, but this research suggests that this seemingly built-in gender inequality persists even when men and women are bidding for the same thing on eBay.

Considering eBay’s policy of not stating the gender of its users, the persistence of sexism—when buyers can identify a seller’s gender—points to greater disparities in other markets when gender is known. In more than half of the evaluations of sellers’ profiles that participants in the study were asked to conduct, the researchers found that buyers were able to identify a seller’s gender.

The research, by sociologist Tamar Kricheli-Katz and economist Tali Regev, looked at data from more than a million transactions from 2009 to 2012 involving the most popular products auctioned on eBay in the US. As well as finding that women sellers were paid less for their goods than men, the research also found that women buyers tend to pay 3 percent more.

Read more here.

Five tips for first-time female investors

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Anyone might be hesitant if it's their first foray into investing--and women often receive even less guidance and encouragement than male investors when starting out. Dubai-based portfolio manager and wealth management consultant Maleeha Bengali has advice for first-time women investors about the amount to invest, adviser, navigating markets, misconceptions about investing and more.  thenational.ae - While women have the know-how to make sensible and profitable investment decisions, they are hesitant about doing so. These are the findings made in The National’s Money section this week.

According to a Fidelity Investments study carried out last year, 72 percent of women don’t feel confident about selecting financial investments on their own. With this in mind, here Dubai-based Maleeha Bengali, a portfolio manager & wealth management consultant and founder of MB Commodity Corner, a trading and investment newsletter, reveals how novice women investors can get started:

How do I know how much to invest?

If you need cash in the next two months, don’t invest it. If you have about one year, that’s a great start. You first need to ask yourself "how much liquid wealth do I have today?" Outside of your daily expenses, how much of that liquid wealth is spare? How much are you willing to invest?

Now you ask yourself ‘how old am I?’ ‘When do I think I will retire?’ Say to yourself ‘I want to have x amount of dollars every month when I retire’, and then start working your way backwards to determine how much you would need to invest today and what sort of return you would need to generate each year to reach that amount for the future. It’s important that you have an expectancy of when you will need that nest egg back. What are your obligations? Once you answer these questions, you can then decide what product matches your investment needs.

Read more here.

 

Why it’s important to empower women entrepreneurs with Selling Skills

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More and more women are starting businesses and becoming self-driven entrepreneurs--which is fantastic. What is sometimes lacking, especially in an environment that might not be used to nurturing women in entrepreneurship, is selling skills. Even the most successful founder or entrepreneur can benefit from gaining more sales expertise and polishing her selling game. Silicon Cape Initiative, serving entrepreneurs and investors in the Western Cape of South Africa, has five tips to harness your selling power.

siliconcape.com - Why it’s important to empower women entrepreneurs with Selling Skills

It is very exciting to see the growing numbers of women entrepreneurs in South Africa. And even more exciting is to witness how these entrepreneurs are dominating the space that they work in, owning their market share with their most amazing products and services.

Take a closer look though, and you'll see that there is one essential ingredient missing from the mix - selling skills. Why is this, you may ask? Is it due to lack of training, lack of confidence or just relying too heavily on referral business?

I love sales and everything that goes with it. I love the energy of sales, I love closing the deal and getting the signature! That is one of my key motivators and keeps me going every time. So why aren't more women closing deals, asking for the signature?

It may just be due to shyness or not being fully educated about all the nuances of launching and running a business. Whatever the reason, I want to take the time here to highlight where we as entrepreneurs can improve and take our businesses to the next level.

Read more here.

 

Kenya tackles poverty by sending teen mothers back to school

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Kenya faces high teen pregnancy rates, especially among poorer citizens--and due to demands of motherhood and stigma, most young women who drop out of school due to pregnancy never return to continue their education. Efforts to help students get and stay in school have been slow-going, even though free primary education was introduced in Kenya more than a decade ago, and the figures for secondary schooling are even more bleak. This is especially unfortunate because young mothers are among those who could benefit most from education, which helps them achieve higher earnings and have fewer, but healthier, pregnancies and babies.

Projects like Jielimishe work to change that and provide access to education for many more young women. The organization provides fees, textbooks, uniforms and sanitary towels so young women can attend and stay in school, and is also working to challenge preconceptions. Click through to read the full story.

reuters.com - Laikipia, KENYA (Thomson Reuters Foundation) - Christine Gathoni dreamed of becoming a doctor, not a patient, grimacing in pain as she pushed her baby girl into the world.

But boredom and frustration at her parents' inability to pay for her education led her to sex, pregnancy and motherhood at the age of 19 with only two years of secondary education to go.

"I was idle and my boyfriend asked me out," she said, looking pensive. "After a few weeks, I realized I was pregnant."

Two out of five 19-year-old women in Kenya are either pregnant or have given birth, with the highest rates among the poorest, according to government statistics.

Their parents often encourage them to get married to escape the stigma of being a single mother.

The persistent cultural belief that girls who have given birth are adults - who have no place in a classroom - also means that as many as nine in 10 Kenyan girls who drop out of school due to pregnancy never return.

Gathoni, however, was determined to complete her education.

 

How Economic Activism Can Empower the African Woman

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Economic activism—educating, investing in and empowering people so they can make independent, informed decisions and meaningfully participate in their economies—is a crucial part of women's rights activism. It can be just as important as political or social activism, and is interconnected with other forms of empowering women or other marginalized groups. Women continue to lag behind men in nearly every measurement financially, even though they make the majority of household financial decisions and are making serious gains on their male counterparts in terms of founding businesses and investing.

Wendy Luhabe has already succeeded in entrepreneurship, but for years now her mission has been to empower other African women entrepreneurs. She sat down with Knowledge@Wharton, the online business journal of the Wharton School; to discuss private equity for women, South Africa's changing political landscape and opportunities it provides for gender equality, how she became an economic activist and so much more.

knowledge.wharton.upenn.edu - Social and economic activist Wendy Luhabe passionately believes in empowering women, especially when it comes to realizing their potential in contributing to the economy.

Knowledge@Wharton: You describe yourself as an economic activist. You’re based in South Africa. What is an economic activist?

Wendy Luhabe: In my case, it’s focusing on the participation of women in the economy. When I thought about what we’ve been doing, I realized that you hear of social activists or political activists, but you don’t hear of economic activists. The work we’ve done deserves the description. We pioneered two ventures: the first one was an investment company we started 20 years ago. It mobilized 18,000 women to become investors for the first time through a platform called Women Investment Portfolio Holdings. The company is still in existence. It has a value of about $200 million.

After that, about 10 years later, we started a private equity fund for women, which was also an unheard of concept in the world. There are less than 10 funds that are focusing on women-owned enterprises. This was definitely the first and probably still the only one in Africa.

Knowledge@Wharton: That company still exists as well?

Luhabe: The fund has closed but several of the investments are still in existence.

Read the rest of the interview here.

 

Meet The Woman Empowering Entrepreneurs To Change The World

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Despite recent encouraging gains, there remains a large gap between women and men when it comes to entrepreneurship. Almost all venture capital-backed businesses are led by men, for example; and the road to startup success is often much more difficult for women, hampered by issues including connections and access to capital. That's why we were so excited to read about Circular Board and Pitch With Purpose, efforts by Houston entrepreneur Carolyn Rodz to educate and empower women entrepreneurs. She's truly a woman investing in women--and helping them invest in themselves and their visions. forbes.com - Carolyn Rodz, the founder of business accelerator Circular Board, is on a relentless drive to help female entrepreneurs change the world.

Rodz, based in Houston, Texas, is heading a major upcoming pitch competition, Pitch with Purpose. The competition is for women whose businesses are fast growing and focused on social good – and female entrepreneurs applying technology and great insight to this aim are expected to play a major part.

Given that in the developing world working women typically invest 90% of their earnings back into their family and community, and that women are more likely to create social enterprises, Rodz says, it is essential to the world to support their entrepreneurship.

Typically, a number of issues hamper female entrepreneurs’ success – including what Rodz has described as a lack of clarity of purpose; how, when and how they choose to access capital; and relationships with mentors and partners.

Empowerment and support are essential in their success. “Women are driving forces of social change,” Rodz tells me.

Read more here.

 

'Executive Women' magazine highlights MENA businesswomen

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Womena is a Dubai-based, women-only angel investor group serving the Middle East and North Africa, or the MENA region. Through professional networking, investment guidance and thorough research on startups in the region, Womena connects promising startups in the growing economy with high-net-worth women investors. Here, Womena shares insights on the importance of pitching when raising funds for a startup. womena.co - Womena is happy to announce that we have a new ally in our journey to increase women’s opportunities and empowerment in the MENA region. Enter Executive Women, a magazine that serves as the perfect resource to women in business and female angel investors.

Executive Women provides a platform to highlight the achievements of inspiring women who are changing the face of business in the MENA region, including educators, humanitarian pioneers, media personalitiesentrepreneurs, scientistsand business leaders. In addition, Executive Women offers useful tips and coaching on business subjects such as leadership,management and career advice, as well as curated content on social events, fashion and culture. The website even offers a monthly personal development and wellness to do list.

The magazine was launched by the UAE chapter of the CEO Clubs Network Worldwide, one of the largest business networking clubs in the world. It’s accompanied by the CEO Clubs Business Women, a social club designed to provide MENA businesswomen with business opportunities, business development and support, as well as special women international delegations and networking events for ladies at all levels- from start-ups and sole traders through to director level.

Womena will be partnering with Executive Women throughout the coming year, so keep your eyes peeled for upcoming events!

To learn more about Executive Women, head over to their website or contact them directly here.

Visit Womena.co to learn more about Womena’s efforts, "like" the group on Facebook, and follow them on Twitter.

 

Women-led Startups in India Face Discrimination from Investors?

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Despite a patriarchal attitude that persists throughout much of the country and negative stereotypes when it comes to women in business, there has been rise of female entrepreneurship in India in recent decades. However, there is a long way to go, and women still struggle to obtain funding in an investing and business world dominated by men--and biased attitudes. Only 9 percent of the 800 or so startups founded each year in India are led by women. thequint.com - It was a cracking idea. The market was ready and she could gauge a customer base. The research was air-tight and she found a team that agreed to work. But, the problem was with her. She was a woman and that matters in the exclusive, harsh, male-dominated world of investors.

More than 800 startups join the Indian ecosystem every year. On an average, three to four startups are registered every day. The figures may be celebratory in nature, but out of this, only 9 percent are led by women.

Sounds unlikely but in the business world, even company heads need to pass a "sex-determination test". Many women founders and startup leads in India accept that they face gender-discrimination from venture capitalists and investors during funding.

Thirty-one-year-old Priyanka Agrawal always wanted to be an entrepreneur.

"I had a 'keeda' within me to prove to a typical Indian Marwari mindset that women can build a source of income independently through their own ventures. When I decided to start something of my own, the one and only rule I made was to not take help from my dad."

Read more here.

 

 

Woman-Owned Businesses Growing But Still Not Equal

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Candace Klein, Chief Strategy Officer at Dealstruck, covers trends in women-owned businesses for Crowdfund Insider. Women still lag behind men in starting and running businesses, but they're catching up—and growing at faster rates than men in many respects. For example, they are very strong in certain high-growth industries like education and health and beauty, they added jobs during the economic downturn, and they often borrow less—taking on less risk—even as their businesses are keeping pace with corresponding male-led companies.  Klein unpacks these and other facts and statistics; showing that despite daunting odds, women are still building enterprises—and thriving. Read the full article on Crowdfund Insider, and keep supporting women entrepreneurs. 

crowdfundinsider.com - A common theme in business and finance circles is that women are underrepresented, less capitalized, and face an uphill battle when it comes to building and financing their small businesses. While the statistics may bear this out to some degree, the women-owned business horizon is markedly better than the picture painted by this conventional data.

It is true that though women represent slightly over half of the U.S. population, they only own 30% of the businesses.

It is true that they employ a mere 6% of American workers. And it is true that their sales are 25% of those of male-owned small businesses. However, it is also true that women-owned businesses are growing at a rate of 1,200 per day, far outpacing the growth rate of those owned by men, and one-and-a-half times the national average. Four out of ten new businesses are now owned by women. And women own a greater share of enterprises that are in high-growth service industries, like education and health care, giving them a great deal of opportunity for continued expansion.

Read more here.

ESSENCE Network: A Startup Founder Shares How to Raise and Save Funds For Your Dreams

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The CEO and "Chief Sower" of Sow, Tanya Van Court, spoke to Essence about helping young people save and invest, startup tips, and her daughter's request that led her to found Sow--which adds meaning to traditional gift-giving by allowing kids and their loved ones to "plant seeds" in three categories: saving towards future goals, sharing with those who are less fortunate, and spending on things that matter. essence.com - Tanya Van Court is part of the growing number of black women successfully launching startups in Silicon Valley and cities around the country. After realizing there was no known solution to her daughter’s birthday request to save for an investment account, she decided to put her professional experience to use and become the solution. Sow now allows young people to receive financial gifts for savings and fundraising efforts, in lieu of traditional material gifts. See how Van Court raised capital for her venture and her tips to being a successful CEO.

Name: Tanya Van Court

Age: 40s

Title: CEO, Sow

Location: Brooklyn, NY

Hometown: Oakland, CA

Twitter: @tvancourt and @isowfor

LinkedIn: www.linkedin.com/in/tanyavancourt

Instagram: @isowfor

The gig: I am the founder and CEO of Sow, iSow.com. Sow solves the universal problem of inefficient gift giving to young people.  In lieu of receiving troves of “stuff” for their birthdays, holidays, and gift-giving moments, parents and kids can sow for important goals like saving and fundraising. I love to see young people getting excited about saving and their goals.

The journey: My daughter shared with me that all she wanted for her 9th birthday was money to start an investment account and a new bike. I knew that she would likely receive a slew of gifts similar to those she already received from friends and family. I realized that the traditional process of gift giving was broken and that I could do something to fix it.  Prior to Sow, I served as senior vice president of partner marketing at Discovery Education and spent more than five years at Nickelodeon. I have two degrees in Engineering from Stanford and two degrees in Parenting from my children Gabrielle and Hendrix, preparing me for this task.

Read more here.

New fund for women is the next step in Kiva’s evolution

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Kiva.org, known for making microfinance accessible to citizen lenders looking to help low-income entrepreneurs, is looking to expanding to larger loans for small and medium enterprises. In a partnership with the United States Department of State and the Inter-American Development Bank, the company established the Women’s Entrepreneurship Fund--opening up loans to up to 1 million women entrepreneurs, matching amplifying the donations of citizen lenders through Kiva.org, and helping underserved women-owned businesses in the organizations foray into impact investing. It's a move that could set a model for socially responsible investing for many other companies. devex.com - Truphena Anyango, a 29-year-old married mother of one in Mikindani, Mombasa, Kenya where she runs a pharmacy and also sells cosmetics. A loan of $650 administered by VisionFund Kenya helped her to purchase more cosmetics and sanitary products for her business. Photo by: John Briggs / Kiva

Kiva partnered with the United States Department of State and the Inter-American Development Bank to launch the Women’s Entrepreneurship Fund on Friday, signaling the next step in the crowdfunding platform’s ongoing expansion into impact investing.

Seventy percent of small and medium enterprises owned by women in emerging markets are underserved or unserved, leading to a $260 billion to $320 billion credit gap for women, according to the International Finance Cooperation. Despite the odds, women reinvest 90 percent of their incomes in their families and communities.

“We see time and again with Kiva that the most impactful, high leverage, accelerated way to change the world more positively is by getting money directly into the hands of women, and particularly women entrepreneurs,” said Julie Hanna, Kiva’s board chair.

Read more here.

 

What Millennials Know About Money and Work

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We certainly don't want to replace one set of stereotypes with another, but there's no denying that people from different generations tend to see the world and plan their lives differently. Far from the entitled slackers they're sometimes made out to be, many millennials make smart decisions about their lives and finances--choices that many others could learn from. Read an excerpt below, and click through to learn more about lessons millennial men and women have to offer.

aarp.org - As stereotypes go, slacker millennials living with their parents—depleting the fridge and glomming off others—just may have to be rethought. Truth is, when it comes to managing their financial lives, those in the generation born between 1982 and 2000, now some 83 million strong, are making smart, somewhat surprising choices. Older generations can pick up several pointers from today’s 20- and young 30-somethings

Save more money.

Some 40 percent of millennials bumped up their 401(k) contributions in the past year, nearly twice the percentage as that of boomers, according to research from T. Rowe Price. More millennials, the study showed, stick to a budget, too

The Takeaway: Folks over 50 can use both 401(k) and IRA catch-up contributions to do likewise.

Debit trumps credit.

Nearly two-thirds of 18- to 29-year-olds don’t have a single credit card, Bankrate research found. That compares with just one-third of those 30 or older. The reason is twofold, says millennial Jason Dorsey, chief strategy officer at the Center for Generational Kinetics. Millennials entered the credit space when the market was really tight and debit was all that was available to them. But, he adds, they also “realize credit is a really fast way to get in trouble.”

The Takeaway: If you feel as if you overuse your credit cards—if your balance is going up every month or if you’re using one card to pay off another—make like a millennial, and take them out of your wallet. Don’t cancel them altogether, however; that’ll ding your credit score.

Read the rest here.

Natural Curly Hair Care Startup Yelani Builds Investor Business Case

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Establishing the validity of a business model can be challenging—and it's even more difficult when very few investors understand or identify with the problems or needs your business addresses. Between the case study of pitching a business model, and the intersection of issues like race and gender, we were fascinated by this article on Yelani, which offers hair-care products specifically for natural hair—that is, curly or kinky hair common to many women of color. Read below or click through to learn more about how Yelani's business model looks to understand what women with natural hair need—providing products to an underserved demographic, and making investors take notice.

forbes.com - One of the biggest challenges to startups these days is properly building a business case that will compel investors. Once you’ve developed a great product and placed yourself in the company of good business advisors, funders want to know why they should invest in you. Proving your case with data and confidence is a place that outsiders and seasoned veterans can be a huge asset. So what are investors looking for? And, does Yelani all-natural hair care products have what it takes to make the investor case?

Yetunde Jude is the founder of Yelani, an all-natural hair care line for people with kinky or naturally curly hair. If you don’t have kinky curly hair, you may not be aware of the challenges of maintaining healthy hair and as a business person you may not be aware of what an opportunity that is.

As I participated in the Kennesaw State University The Edge Connection competition with a host of business people, many of them men, it was interesting to watch Jude present her research. Most of the men didn’t appreciate the lengths women—particularly African American, Hispanic and other women with kinky curly hair—go to in order to maintain their hair. They were also unaware of how much these women spend to maintain their hair.

Read more here.

 

UAE charity supports Ugandan restaurant to empower women entrepreneurs

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Education and support of young people are some of the biggest factors in helping girls and all children around the world—leading to better opportunities and pay, a cycle of education as they send their children to school, prosperous communities and more. So we were thrilled to learn of this team up between Malayaka House Orphanage in Uganda and Abu Dhabi-based Monyati Initiatives, a philanthropic organization providing funds, to renovate a pizza restaurant central to the orphanage's mission. In a country already facing high unemployment, girls and orphans are even more at risk. Through this program, older girls learn skills like managing money, helping to run a business and cheesemaking, while the restaurant raises funds for the orphanage. The restaurant and training center are both run by women. The project supported by Monyati Initiatives will allow for a renovation of the restaurant, making it even more beneficial and cost effective.

thenational.ae - DUBAI / Orphans in Uganda have been given the chance of a brighter future thanks to a UAE-inspired pioneering project that also aims to empower female entrepreneurs.

Abu Dhabi-based philanthropic organisation Monyati Initiatives has funded a Dh91,825 project to renovate and upgrade a pizza restaurant in Entebbe that, it hoped, would become a sustainable business.

Working with Malayaka House Orphanage, Monyati Initiatives believes the restaurant will provide an environment for the girls to learn.

“This has been a dream come true, and our girls could not be happier,” said Monja Wolf, Abu Dhabi resident and founder of Monyati Initiatives. “Everything has become easier for them.”

Although the restaurant was already being used by the orphanage as a means of raising money, the changes meant they could expand their activities.

“The primary goal of this project was to take the pizza business and do what the orphanage has already been doing for a number of years – but do it better, cheaper and faster,” she said.

Read the rest here.

 

El Salvador Pension Reform Could Take Women into Account

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IPS News brings us this story about El Salvador revisiting its pension system to potentially take women's interests into account more than it has historically. The country's system currently favors men—not because it seeks to disenfranchise women literally but because it largely leaves out workers in the "informal" sector when it comes to who pays into (and benefits from) the system. The majority of informal sector workers are women. It's one example of the ways economic and global issues can disproportionately affect women.

Read this excerpt and continue to the whole article at the link, and keep learning about ways in which empowering our women can help entire communities and societies.

 

ipsnews.net - SAN SALVADOR, Feb 17 2016 (IPS) - El Salvador is debating reforms of the country’s privatised pension system, which could introduce changes so that it will no longer discriminate against women.

“The pension system has a male-centred, patriarchal focus that fails to take into account the specific differences that women face in the world,” said Marta Zaldaña, secretary general of the Federation of Independent Associations and Unions of El Salvador (FEASIES).

The head of FEASIES, which groups more than 20 trade unions, told IPS that one example of the sexist treatment received by women is the 115,000 domestic workers who are completely outside the system, with no right to a pension or even the minimum wage, or any other kind of protection or regulation.

People working in the informal sector of the economy, 65 percent of whom are women, do not pay into the system and will have no right to a retirement pension, economist Julia Evelin Martínez, a researcher at the José Simeón Cañas Central American University School of Economy, told IPS.

 

Don't Just Get Mad at the Pay Gap—Get Ahead of It

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Mind the (wage) gap: Progress toward wage equality between men and women has been slow-going in recent years, but there have been recent gains, both within companies willing to provide greater transparency and tackle inequality, and in the form of several laws recently passed and soon to be passed. But what can you do; personally; to educate yourself, know your rights, negotiate and advocate for your own fair share? Women's Health Mag has you covered. womenshealthmag.com - We’ve all heard the awful numbers: Pew research pegs the pay gap at 84 cents to a man’s dollar; a White House report has it even wider, with women at 78 cents. And apparently, it will be 118 years—nope, not an exaggeration—before men and women earn equivalent salaries for the same work, the World Economic Forum estimates. We say: not acceptable.

A growing number of companies agree and are already implementing change. Gap made its figures public in 2014; shareholders of Wal-Mart pushed for greater salary transparency last year. And global consulting firm Accenture now identifies pay discrepancies, guides women through all stages of their careers, and has pledged to grow the percentage of females it hires to at least 40 percent by 2017.

Legal reform is on the rise too: California’s Fair Pay Act, which went into effect in January, puts the burden on public and private companies to prove they haven't discriminated against women. If two people do comparable work, companies will be expected to pay them the same. “The law makes it clear that you have to look at the substance of what people do, not just their titles of positions,” says Jennifer Reisch, legal director ofEqual Rights Advocates. (The new law has employee’s backs in another way: by ensuring that they can openly discuss salaries with coworkers without fearing for their jobs.) Following California’s lead, New York enacted the Achieve Pay Equality bill last year, says Reisch, and Washington, Colorado, Pennsylvania, and Rhode Island to do the same soon.

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Pakistan’s Fiza Farhan joins UN High-Level Panel on Women’s Economic Empowerment

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We're always excited to see women bringing their specialized skills and knowledge to bear in the fight for women's rights, so we were thrilled to learn of the appointment of Fiza Farhan, co-founder and CEO of the Buksh Foundation, to the new United Nations High-Level Panel on Women’s Economic Empowerment. Experts on the panel focus on the intersection between economic growth and gender, and use their unique expertise and power to motivate work toward the UN's Sustainable Development Goals, a primary one of which is gender equality. Read below and click through for the full article to learn more about how Farhan and others are on the vanguard of fighting for gender equality, economic empowerment and a more sustainable future.

asiapacific.unwomen.org - In an announcement today Ms. Fiza Farhan from Pakistan has been named as Member of the first ever High-Level Panel of the UN Secretary-General on Women’s Economic Empowerment. The establishment of this distinguished panel was announced in January at the World Economic Forum in Davos with UN Women - the United Nations Entity for Gender Equality and the Empowerment of Women - serving as its secretariat.

The panel will provide recommendations for the implementation of the 2030 Agenda for Sustainable Development to improve economic outcomes for women and promote women’s leadership in driving sustainable and inclusive, environmentally sensitive economic growth. It will provide recommendations for key actions that can be taken by governments, the private sector, the UN system and other stakeholders, as well as policy directives needed to achieve the new targets and indicators in the Sustainable Development Goals which call for the economic empowerment of women, and benefits all. The panel is backed by the United Kingdom, the World Bank Group and UN Women.

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