Eradicating Women’s Poverty Through Mobile Banking

mobile-banking

In recent travels to rural Bangladesh, I was in awe of how women there empower each other. As women shared their very personal stories with me, I couldn’t help but think these women are just like me but don’t have access to the same opportunities that I have. I saw mothers who will do anything in their power to provide for their children. They will sacrifice their own dreams to make their children’s dreams come true. They will feed their children the little rice that they have, leaving only the rice water for themselves as their stomachs growl. Oftentimes, these mothers are still children themselves, having been forced into marriage at age 11 and bearing their first child as soon as they were physically able to. This story isn’t unique to the women in Bangladesh. This is true of mothers around the globe.

If you want to change the face of a nation, invest in women and girls. Technology now gives us the opportunity to invest in each other regardless of what zip code we live in. I can invest in a woman in Bangladesh through mobile banking with the click of a button. The magic is in what happens after the transaction occurs.

Imagine a world that empowers women to start businesses by offering them capital. Consider this scenario: A woman receives capital to start her own agriculture business, and with her leadership the business becomes successful. Soon the company brings in income far greater than the $2-a-day average for individuals in Third World countries. This business enables her children to go to school to receive an education. That woman reinvests in her community. The chain reaction from this one investment has a domino effect that will eventually transform the global economy and make a significant step forward in eradicating poverty.

As I sat with many of these mothers in their Savings and Community Co-operatives (SACCs), I saw that these women are truly giving their children a better future with not much more than a dream. So in the spirit of Mother’s Day, please join us in acknowledging all mothers and mother figures in our lives and across the globe. In that spirit, I am making a loan to a woman to start chasing her dream, in honor of my mother. I want to thank my mom for the role model that she is and has been. Happy Mother’s Day to all.

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