Mentoring Vital to Developing Skillsets in MENA and Eastern Europe
Advancing women’s leadership skills and opportunities is vital to lifting economies and stabilising communities across the world, a Bank of America Merrill Lynch senior executive said Thursday at the Women, Progress and the Global Economy Public Forum in London (#WomenLead).
Anne Finucane, vice chair, Bank of America, said support of women leading businesses and social enterprises – particularly those in regions facing conflict – will promote economic growth and social change. The remarks were made at the Public Forum, part of the Global Ambassadors Program (#GlobalAmbassadors), a week-long mentorship initiative led by Bank of America Merrill Lynch and Vital Voices Global Partnership which aims to advance women’s leadership and economic empowerment.
“For every dollar a woman earns, she invests 60 percent back into her family and community, ultimately leading to long-term economic stability,” Finucane stated as part of a keynote conversation with Christiane Amanpour, chief international correspondent, CNN.
Attendees including Global Ambassador Program mentors and mentees heard from senior leaders including Ambassador Melanne Verveer, co-author of “Fast Forward”; Baroness Mary Goudie, member, House of Lords; and Her Excellency Atifete Jahjaga, president, Republic of Kosovo, who highlighted the value that women bring to decision-making in the board room and long-term peace-building.
Ambassador Melanne Verveer stated, “Women are increasingly using their voices, harnessing their power and purpose to create change and promote growth.”
Recognising the importance of mentorship to developing women’s leadership skills, Vital Voices President and CEO Alyse Nelson underlined that mentoring is not just a “soft skill,” but rather a business strategy, noting, “77 percent of Global Ambassadors Program mentees have seen their revenues increase. And we know that those who are mentored are more likely to go on to mentor others.
Ahu Serter, president, Farplas Group and founder of Arya Women’s Investment Platform, reaffirmed this; “We need to support women to become investors and entrepreneurs…by leveraging your business to foster social change, you can start improving the lives of those around you.”
Andrew Plepler, Environmental, Social and Governance executive, Bank of America, highlighted the value of cross-sector partnerships like the Global Ambassadors Program, noting that through the sharing of skills, experiences and resources, progress can be made in addressing pressing challenges, including women’s economic empowerment.