The finance sector in Ethiopia, mirroring global trends, has begun acknowledging the indispensable role of financial inclusion as a cornerstone for equitable economic growth and poverty alleviation. This recognition comes with an understanding that women’s participation in finance is not only conducive to inclusive economic development but also propels the sector towards more sustainable and innovative outcomes. Despite strides in expanding financial access, Ethiopian women continue to face significant underrepresentation, especially in leadership within financial institutions. Addressing this disparity, the Network of Ethiopia’s Women in Finance (NEWFin), spearheaded by the National Bank of Ethiopia, sets forth a comprehensive vision, mission, and series of values aimed at catalyzing transformative change for women in the financial ecosystem.
Vision: A Landscape of Empowered Female Leaders
NEWFin envisions a financial industry where women are empowered to thrive as leaders, driving forward the principles of gender equality within the sector. This vision is not just about increasing the number of women in finance but ensuring they have the opportunities and support to ascend to leadership roles, thereby influencing the industry’s direction and policies for the better.
Mission: Dismantling Barriers, Cultivating Growth
The mission of NEWFin is multifaceted, focusing on breaking down the systemic barriers that hinder women’s progress in finance. It emphasizes creating a nurturing environment that supports women’s journey towards work-life balance, challenges societal norms, and fosters strong networks of mentorship and coaching. By doing so, NEWFin aims to unlock the potential of female professionals, enabling them to harness their capabilities fully and contribute to the sector’s growth and diversity.
Core Values: The Pillars of NEWFin’s Endeavor
Equality: Central to NEWFin’s ethos is the promotion of equal opportunities for all, irrespective of gender. The initiative champions a sector where diversity is celebrated, and gender equality is the norm, not the exception.
Empowerment: NEWFin is dedicated to empowering women, providing them with the tools, resources, and support necessary to overcome challenges and achieve their professional goals.
Collaboration: Understanding the power of collective action, NEWFin cultivates a culture of cooperation, encouraging knowledge sharing and networking among women. It believes in growth through collaboration, where both men and families play a supportive role in women’s empowerment.
Integrity: With a commitment to the highest ethical standards, NEWFin ensures transparency, fairness, and accountability in all its initiatives, encouraging trust and credibility within the financial community.
Growth: At the heart of NEWFin’s values is a dedication to continuous learning and development. Access to mentorship, coaching, and educational opportunities ensures that women in finance can grow professionally and personally.
Leadership: NEWFin aspires to inspire and develop the next wave of female leaders in finance, emphasizing the importance of leadership skills, confidence, and resilience.
Through surveys and engagements with women across all levels of Ethiopia’s finance sector, NEWFin has identified key areas such as work-life balance challenges, societal perceptions of women’s capabilities, and the need for supportive structures as critical barriers to women’s advancement. In response, it proposes targeted interventions like flexible work arrangements, professional development programs, and policies that encourage gender diversity and inclusion within financial institutions.
NEWFin’s strategic vision and mission represent a bold step forward in redefining the role of women in Ethiopia’s finance industry. By addressing systemic barriers and facilitating an environment of support and growth, NEWFin aims to create a financial sector that not only benefits from the full participation of women but also champions their leadership and contributions.
