Women in the Economy Monthly Report January 2020

The project aims to provide thousands of women with the skills, voice, and resources to contribute to Afghanistan's economic development and poverty reduction goals. Women in the Economy assists women-owned businesses and businesses that hire women to perform better, increasing the income growth and sustainability of these businesses. The project provides technical assistance, industry-specific business skills training, and improved access to finance and markets to leverage growth in the private sector. To help female jobseekers, Women in the Economy supports women aged 18 and over in finding new or better jobs through career counseling, workplace skills development, and technical skills training based on market demand. This is done by partnering with educational, vocational, and technical training providers to deliver services, and by funding scholarships for training and certification programs. Women in the Economy operates across Afghanistan and serves both major urban hubs and more remote areas. The project's projected achievements include assisting 400 women's businesses, with at least half increasing revenues by more than 40 percent. Additionally, 20 percent of assisted businesses are expected to move to the next level of enterprise size, and 17,500 women will receive new or better employment, including self-employment. One of the recurring weaknesses observed in client businesses is poor financial literacy and weak financial management. To address these challenges, Women in the Economy introduced the Finance Corps activity, which provides eligible businesses with sound financial management practices, accounting and bookkeeping systems, and financial literacy training. The activity hires intermediate to advanced female graduates of accounting and finance as full-time paid finance assistants, who are matched with experienced finance mentors to coach and guide business owners on creating or improving an appropriate financial system. The Finance Corps activity has been adapted to use full-time paid finance assistants instead of finance interns, as the project experienced a high turnover of finance interns who were immature and unwilling to complete the six-month internship. Like the MBA Corps activity, Women in the Economy first screens businesses that need formal cash management systems and learning, and conducts preliminary assessments to identify areas for improvement. Women in the Economy has reported several successes, including the creation of barcodes for products in Kabul and the signing of contracts with 15 supermarkets in Shar-e-now to provide dry fruits. Additionally, a fresh and dry fruits processing company installed new machinery for drying fresh fruit, leading to an increase in revenue for the business. The project's achievements demonstrate its commitment to supporting women's economic empowerment and contributing to Afghanistan's economic development and poverty reduction goals.