To mark International Women’s Day, Ficohsa, the leading financial services group serving 2.5 million clients in Central America, has vowed to invest further in supporting women-owned businesses.
As the number one bank in Honduras, over 30% of Ficohsa’s clients are women. Supporting nearly 25,000 SMEs, Ficohsa is committed to doubling its SME loan portfolio to US$910M within 5 years, prioritizing the growth of women-led businesses via preferential loans, insurance and financial education.
Mujeres Adelante: Paving the Way for Financial Inclusion and Entrepreneurship
Ficohsa’s flagship program, Mujeres Adelante, or “Women Forward,” is experiencing unprecedented growth in Honduras and is now expanding into Guatemala. The program provides women-owned businesses with preferential loans, insurance, and savings accounts, along with financial training that over 700 female entrepreneurs took advantage of in 2022 alone.
“Mujeres Adelante is not just a program; it’s a movement to bolster the economic prowess of women across Central America,” said Telma Sevilla, Head of Ficohsa’s Mujeres Adelante program. “By equipping women with financial tools and knowledge, we are enabling them to become the protagonists of their own success stories. We recognize that empowering entrepreneurs and women entrepreneurs is key to economic growth and opportunity creation.”
Commitment to the Women’s Empowerment Principles
In 2023, Ficohsa reaffirmed its dedication to gender equality by committing to the United Nations Women’s Empowerment Principles, ensuring that the financial services group will create even more opportunities for female staff and clients. Developed by the United Nations Global Compact and UN Women, the principles guide businesses on promoting gender equality and female empowerment in the workplace.
Luis Atala, Executive Vice President of the Ficohsa Group, remarked, “At Ficohsa, we understand that empowering women is not just a moral imperative but also an economic necessity. Our commitment to the UN Women’s Empowerment Principles is a testament to our dedication to creating an inclusive and equitable corporate culture.”
Digital Women: Bridging the Gender Gap in Technology
The “Digital Woman” program, a collaborative effort with Junior Achievement and the Inter-American Development Bank, aims to empower 7,500 women in vulnerable situations by providing social-emotional training, labor skills, and technical certifications. Ficohsa will provide three-month internships to support the development of practical skills and work experience for the participants.
“This program helps to address gender inequality in our region,” commented Mario Bustillo, Ficohsa’s Vice President of Corporate Relations. “By empowering women with digital skills, we are not only enhancing their employability but also fueling innovation and driving economic growth.”
Mr. Bustillo concluded, “Through initiatives like Mujeres Adelante, and by supporting the Women’s Empowerment Principles and the Digital Woman program, Ficohsa is not just investing in women’s futures; we are investing in the future of Central America.”
About Ficohsa
Ficohsa is steadfast in its commitment to fostering the growth of women-led businesses. Ficohsa supports the goals of Central America Forward on strengthening governance, combating corruption, and improving security. Ficohsa’s 2022 Sustainability Report outlines the bank’s progress in financial inclusion, ethical banking, and investments in environmental sustainability.
