Business Education for Women in Developing Countries

Program to Educate 10,000 Women in Poor Countries

The investmentfirm Goldman Sachs and 16 universities around the world have announceda plan to spend $100-million providing business education to 10,000women in developing countries.

The program hopes to spread good business practices throughout poor regions inAfrica and Asia, to help those regions improve local economies. GoldmanSachs says that it views women in developing countries as anunderdeveloped resource because very few of them receive any sort ofeducation.

Most women in the program will earn managementcertificates in courses that range from a little over a month to sixmonths. According to Goldman Sachs, the women will study topics such as“drafting a business plan, accounting, public speaking, marketing,management, and accessing capital” to support larger projects. Theprogram also hopes to establish business networks and mentor programsfor women.

In addition, a few women will receivescholarships to travel to universities and study for a bachelor’sdegree in business or a master of business administration degree (MBA).Universities in Afghanistan, Egypt, India, Nigeria, Tanzania, and othercountries are partners in the program. U.S. business schools at placessuch as Columbia and Harvard Universities will also participate.

GoldmanSachs has pledged $100-million over five years to the program. Themoney will expand certificate programs that some universities alreadyrun, improve teacher training, and help to hire more teachers. GoldmanSachs employees will also consult for the program and contribute timeand financial expertise.