Goldman Sachs to Provide Management Education to Women Social Entrepreneurs

While the work of microfinance institutions such as Grameen Bank and Unitus have done wonders to empower women in developing countries, these budding entrepreneurs continue to lack any formal business training. To address this dearth in education, Goldman Sachs announced last week that it will invest $100 million over the next five years to provide management education to help women microfinance clients scale up their businesses.

In an announcement at Columbia University in New York City, Goldman Chief Executive Lloyd Blankfein said the company is hoping to create a new model of management education designed to help these women learn everything from how to write a business plan to market their own business. The company will be teaming up with a coalition of top business schools, including Wharton, Columbia, Harvard, and Thunderbird School of Global Management is teaming up with the American University of Afghanistan in Kabul to develop a certificate program and a training program for professors.

“This could be the start of something transformational around the world,” says Ruth Simmons, president of Brown University, which will work with the University of Cape Town Business School in South Africa to create a new business training certificate program.

Microcapital.org writes that in addition to funding the program Goldman also intends to build a network of female entrepreneurs throughout the world.

In addition to business training, the 10,000 Women program organizers hope to create a network of female entrepreneurs and advisers who can serve as role models for aspiring business owners. [Maha] ElShinnaway says she hopes [Eman] Yousry [a recruited entrepreneur] will eventually be able to serve as a mentor to women in the program and as an example for case studies the schools will develop on how female entrepreneurs in developing countries overcome societal challenges to become successful business leaders.