Ficohsa Newsletter

This month saw the launch of Ficohsa’s Mujeres Adelante, or “Women Forward,” program in Guatemala.  Mujeres Adelante, which has been so successful in Honduras at expanding financial inclusion, provides a range of financial services – including savings, loans, credit cards, and insurance coverage – as well as training and support specifically tailored to women.  Female business owners, entrepreneurs and heads of household budgets are an essential part of Ficohsa’s business, accounting for over 50% of our 1.8 million clients.  Over half of the 21,000 SMEs that Ficohsa supports are run or owned by women.

Talking at the launch of Mujeres Adelante in Guatemala, the CEO of Banco Ficohsa Guatemala, Juan Miró, commented, “We know that one of the most effective ways to contribute to the growth of the economy and the generation of opportunities is to offer access to training, financing, advice and secure markets to women entrepreneurs.”

Telma Sevilla, Assistant Manager of Special Projects at Ficohsa, who leads this program, added, “We are proud of the great impact that this program has had in Honduras, providing significant benefits to Honduran women working in different products and services, as well as opportunities to support women entrepreneurs in training, mentoring, and fairs. And now the same benefits will be offered to women in Guatemala.”

The National Banking and Insurance Commission (CNBS) recently ranked Banco Ficohsa as the #1 bank in Honduras.  With assets of 6.9 billion US dollars, Ficohsa was also placed among the top 10 banks in Central America.  Ficohsa is using its size and strength to expand financial inclusion in Central America with more physical branches and new digital services such as the TENGO digital wallet, which is helping to increase the share of remittances that are bankerized. 

Earlier this month, Ficohsa reaffirmed its commitment to gender equality at a public signing of the Women’s Empowerment Principles.

The WEPS were established by the United Nations Global Compact, a worldwide corporate sustainability initiative of which Ficohsa has been a signatory since 2018, and UN Women, the global champion for gender equality.  The WEPs are informed by international labor and human rights standards and offer guidance to business on how to promote gender equality and women’s empowerment in the workplace.

Mr. Atala commented that it is “clear to me that the time for action, for creating opportunities, is today and cannot wait any longer.  That is why it is comforting to see how at Ficohsa more than half of our team are women; and every day they are gaining more opportunities”.

Ficohsa operates a rigid non-discrimination policy governing the hiring and promotion of minorities, women, and members of other groups.

Furthermore, Ficohsa’s Mujeres Adelante program promotes the economic growth of women throughout Honduras and Central America, as outlined in our 2021 Sustainability Report.  Ficohsa is striving to double its SME loan portfolio, prioritizing the growth of women-led businesses through preferential loans, insurance, and financial education.  In November, Ficohsa expanded its successful “Mujeres Adelante” program to Guatemala.