Business Women Connect (BWC)
Location
Maputo, Gaza and Inhambane
DURATION
2017 – 2022 (6 Years)
donor
ExxonMobil Foundation
GRANT
$1.4 million
THEMATIC AREA(s)
Capacity building in financial
skills; Women’s Economic
Empowerment;
Entrepreneurship
IMPACT GROUP(S)
Female entrepreneurs
Description:
Business Women Connect (BWC) was born out of research showing that micro-savings products are one of the most impactful tools for women entrepreneurs to have access to in order to grow their businesses. In particular, mobile savings products are easily accessible, private and safe methods of saving for women, and may decrease the risk that their savings are appropriated by others. In a context where only 17% of adults access formal mechanisms to save, mobile savings products offer women greater security, privacy and control over their incomes, so they can re-invest in their businesses and gradually move to higher margin activities
Project goal:
To economically empower businesswomen in Mozambique by giving them the business skills they need to succeed. At the same time, it also aims to increase the supply of micro-savings products through empowering these successful businesswomen to become financial service agents of these micro-savings products. BWC trains these businesswomen on how to promote the effective use of formal savings products through training on savings and financial literacy, as well as general business skills training in order to expand their businesses.
Project achievements:
- Over 1,500 business women trained on savings, financial literacy and business skills;
- 83% increase in sales and 60% in savings made by the businesswomen;
- 77% of businesswomen are adopting business related best practices, of which 99% report having decision power in their businesses and 92% have increased their self-confidence;
- Team members from partner institutions trained in gender topics.
