Washington DC, January 28, 2025: Global nonprofit Accion launches a new program aimed at connecting women entrepreneurs in emerging markets that are left out or poorly served by the financial system, with services tailored to their unique needs. Accion will partner with Sajida in Bangladesh, Fidelity Bank in Ghana, SEWA (Self-Employed Women’s Association) in India, and Techreo in Mexico in their efforts to reduce gender inequalities and barriers for women accessing financial services.
According to the World Bank, globally, women entrepreneurs face a financing need of $1.7 trillion. Many financial service providers lack sustainable strategies to serve women customers, and existing products often do not meet their specific needs. This new program aims to create new solutions that can be replicated by other financial service providers, helping to advance women’s financial inclusion globally.
Accion’s team of experts will work with each institution on improving internal processes to promote gender equity, developing credit risk models, designing new products, and implementing strategies for sex-disaggregated data. New solutions are expected to include creating a digital profile for women who lack access to formal financial services, scaling a resilience fund in response to climate shocks, conducting market research to better understand social norms that prevent women from accessing and using financial services, and designing programs designed to address the financial needs of young women.
The 12-month program is supported by The Coca-Cola Foundation. It builds on Accion’s work connecting local ecosystem actors with the latest technologies to test, improve, and scale responsible financial solutions that enable small business owners and their families to strengthen their economic well-being.
Liza Guzmán, Vice President of Customer Strategy and Women’s Economic Empowerment at Accion Advisory: “Over one billion women globally still lack access to the essential financial services that can help them build successful businesses and invest in their futures. Working with four partners – all leaders in financial inclusion in their countries – Accion will bring its deep experience helping companies provide innovative and affordable financial solutions to small businesses and hard-to-reach customers in emerging markets.”
Carlos Pagoaga, President of The Coca-Cola Foundation, noted: “We are building on our rich legacy of supporting women’s economic empowerment programs to provide underserved women with access to economic opportunities, , which will ultimately create shared value with the goal of a better collective future, enhancing the livelihoods of women, their families, and their communities.”
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Accion
Accion is a global nonprofit on a mission to create a fair and inclusive economy for the nearly two billion people who are failed by the global financial system. We develop and scale responsible digital financial solutions for small business owners, smallholder farmers, and women, so they can make informed decisions and improve their lives. Through targeted investment strategies, advisory solutions, and expert thought leadership, we work with local partners to develop and scale cheaper, more accessible, and customer-friendly financial solutions. Since 1961, Accion has helped build 267 financial service providers serving low-income clients in 75 countries, reaching 440 million people. More at https://www.accion.org.
The Coca-Cola Foundation
The Coca-Cola Foundation’s mission is to make a difference in communities around the world where The Coca-Cola Company operates and where our employees live and work. We support transformative ideas and institutions that address complex global challenges and that leave a measurable and lasting impact. Our giving is focused on sustainable access to safe water, climate resilience and disaster risk preparedness and response, circular economy, economic empowerment, and causes impacting our hometown community. Since its inception in 1984, The Coca-Cola Foundation has awarded grants of over $1.6 billion in service of its mandate to strengthen communities across the world. More at https://www.coca-colacompany.com/social/coca-cola-foundation
Sajida (Bangladesh)
Sajida is a leading Bangladeshi nonprofit dedicated to eradicating poverty, enhancing healthcare, and empowering communities. Currently serving over 700,000 low-income households with a range of services, including credit, Sajida Foundation is committed to scaling its impact by improving efficiency through digital innovations and advanced credit risk models. More at: https://www.sajida.org
Fidelity Bank (Ghana)
Fidelity Bank is the largest privately-owned indigenous bank in Ghana serving about 3 million customers across 81 branches and 137 ATMs. Established in 1998 as Fidelity Discount House, the bank has grown into a leading Tier-1 financial institution ranked 5th in terms of total assets in Ghana’s banking industry. Fidelity has a strong focus on continuous innovation and provision of value-added products and services to micro-entrepreneurs, SMEs and corporates to foster inclusive growth. More at: https://www.fidelitybank.com.gh
SEWA (India)
The Self-Employed Women’s Association (SEWA) is a women’s trade union that was started by women workers of the informal economy in Gujarat under the guidance of Smt. Ela Bhatt in 1972. Originally born out of the Textile Labor Association (TLA), India’s oldest and largest union of textile workers, SEWA is now a globally recognized trade union of women from 125+ trades in the informal economy. Fifty years later, SEWA has become a multistate movement owned by women in the informal economy. There are over 3.2 million SEWA members representing 18 states of India. More at: www.sewa.org
Techreo (Mexico)
Techreo is a digital platform that creates tools for financial providers, ensuring seamless digital transformation and financial inclusion for a wide range of clients including women entrepreneurs, Techreo creates custom tools designed to elevate their digital experience. From mobile banking to investment management, our apps provide comprehensive services that are fully adaptable to the customer’s needs. More at: https://techreo.services/en/
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Media contact
Thessa Mooij
Director of Public Relations
Phone: +1.917.631.2518
tmooij@accion.org
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