Fundación Microfinanzas BBVA
According to the PAR 2017 Ranking, in Colombia, women receive 22% less salary than men. The PAR Community was launched with the aim to disclose the first network of companies that contribute to the country’s gender equality- 32 companies willing to work in closing labor and employment gaps between men and women. Bancamía is one of these 32 companies who are working to advance the country’s gender equality movement by adhering to the #SomosPares (“we are equals”) agreement.
“We acknowledge the importance of the Colombian women as an agent for social change through their productive and economic empowerment”
Miguel Ángel Charria, executive president of BBVAMF’s Colombian MFI, guaranteed that they are committed to the PAR Community in the search for gender equity, and for this reason, they motivate collaborative working practices on equal terms. “We acknowledge the importance of the Colombian women as an agent for social change through their productive and economic empowerment”, he added.
The event was organized by Aequales and Alianza Social Uniandina, of the Andes University Alumni Association, and it focused on gender equality for the future of global companies. Some leaders from national and multinational enterprises confirmed that working along these lines have led to successful outcomes, given that “diversity increases efficiency in organizations and that male and female perspectives, when combined, bring in innovation and minimize risks.”
In fact, according to a study by Catalyst, a gender think tank, companies with higher number of women in their senior management teams achieve better financial results than those teams which are composed only of men. Furthermore, at 30% of women occupying leadership positions, companies notice their returns increase from 15% to 26%, according to the Peterson Institute for International Economics.
In this regard, the BBVA Microfinance Foundation seeks to take a stand on this issue as an agent of change that facilitates women’s economic empowerment through its microfinance institutions with financial inclusion- one of the targets within the United Nations’ SDG 5, Gender Equality. To achieve this, it gives women access to financial products and services that are adapted to their needs, nurturing their economic independence.