New Program Aims to Educate 10,000 Women in Poor Countries

By Sam Kean

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

The program, called 10,000 Women, hopes to spread good business practices throughout poor regions in Africa and Asia, to help those regions improve local economies. Goldman Sachs says that it views women in developing countries as an underdeveloped resource because very few of them receive any sort of education.

Most women in the program will earn management certificates in courses that range from a little over a month to six months. 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. The program also hopes to establish business networks and mentor programs for women.

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

Goldman Sachs has pledged $100-million over five years to the program. The money will expand certificate programs that some universities already run, improve teacher training, and help to hire more teachers. Goldman Sachs employees will also consult for the program and contribute time and financial expertise.