Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Goldman Sachs Group    GS

GOLDMAN SACHS GROUP (GS)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Goldman Sachs : IFC, Goldman Sachs Initiative Invests $1 Billion in Women Entrepreneurs in Emerging Markets

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/18/2018 | 03:19pm CEST

New York, May 18, 2018-The Women Entrepreneurs Opportunity Facility ('WEOF'), a first-of-its-kind partnership between the Goldman Sachs 10,000 Women program and IFC, a member of the World Bank Group, has now invested more than $1 billion in women entrepreneurs in emerging markets, delivering much-needed capital to small businesses and far surpassing the facility's original goal of $600 million.

Women own or run more than a third of small and medium enterprises (SMEs) in emerging markets, key providers of jobs and essential services. Yet a disproportionate number can't access the capital they need to grow. The financing gap for women entrepreneurs is estimated to be nearly $1.5 trillion.

WEOF provides lines of credit that allow financial institutions in developing countries to reach more women-owned businesses. The facility also helps these institutions better understand the commercial viability of loans to underserved women entrepreneurs-and the role small businesses can play in their own growth strategies.

Designed to address the barriers that prevent financial institutions from deploying capital and women entrepreneurs from accessing it, WEOF was launched in 2014 with a $43 million investment from the Goldman Sachs Foundation and $100 million from IFC. The facility just exceeded $1 billion in investments in 26 financial intermediaries in 26 countries, including some of the world's poorest and conflict-affected states. It has also funded 10 advisory projects in nine countries with total project value of $4.3 million. WEOF has already reached 50,000 women entrepreneurs through the financial institutions it invested in, with a goal of reaching 100,000 over 10 years.

'This partnership and creation of the WEOF was a natural extension of our 10,000 Women initiative, and directly informed by the feedback of our alumni who indicated a need to increase access to credit,' said Lloyd C. Blankfein, Chairman and CEO of The Goldman Sachs Group. 'We want to disrupt the traditions of the local banking system by providing financial incentives for these banks to put more energy into evaluating female owned businesses.'

'Women entrepreneurs are a powerful force for prosperity. Empowering them in developing countries unleashes economic growth and creates jobs in places where both are desperately needed,' said IFC CEO Philippe Le Houérou. 'This partnership is helping tens of thousands of women-owned enterprises to thrive - and is making the case that investing in women is good business.'

One of WEOF's significant achievements was mobilizing other investors to invest in women entrepreneurs with the goal of demonstrating their commercial viability as an asset class. In 2015, the US Overseas Private Investment Corporation (OPIC), the U.S. government's development finance institution, joined the WEOF partnership with a commitment of up to US$100 million in co-investments. 

WEOF builds on the IFC Banking on Women and Goldman Sachs 10,000 Women initiatives. 10,000 Women was launched in 2008 to foster economic growth by providing women entrepreneurs with business education and access to capital. IFC's Banking on Women was established in 2010 to provide financing and expertise to emerging market financial institutions to expand financial services and opportunities for women customers and business owners.


About IFC
IFC-a sister organization of the World Bank and member of the World Bank Group-is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit www.ifc.org

About Goldman Sachs 10,000 Women
The Goldman Sachs 10,000 Women initiative was launched in 2008 to foster greater shared economic growth by providing underserved women entrepreneurs around the world with a business and management education and access to capital, mentoring, and networking. The initiative has reached women from across 56 countries through a network of 100 academic, nonprofit, and bank partners. Globally, graduates report immediate and sustained business growth. Eighteen months after completing the program, nearly 70% of surveyed graduates increased their revenue and nearly 60% added new jobs. On average, graduates doubled the size of their workforces and revenues increased nearly fivefold, and nine out of ten participants pay it forward by mentoring other women. For more information, visit http://www.goldmansachs.com/citizenship/10000women/

 

# # #

Media Contacts:

IFC:
John McNally
Phone: +1 202 458 0723
E-mail: [email protected]

Goldman Sachs:
Goldman Sachs Media Relations
+ 212 902 5400

 

Disclaimer

The Goldman Sachs Group Inc. published this content on 18 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 May 2018 13:18:08 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GOLDMAN SACHS GROUP
05/26OUT FOR UNDERGRAD (O4U) : Names Goldman Sachs as Host of LGBTQ Undergrad Leaders..
PR
05/24Goldman, Blackstone Make Peace in Credit-Derivative Standoff
DJ
05/22REGENERON PHARMACEUTICALS : Announces Upcoming Investor Conference Presentation
AQ
05/21Data firm IHS Markit to buy Ipreo in $1.86 billion deal
RE
05/21GOLDMAN SACHS : 10,000 Women Launches Online Education Partnership with Coursera
PU
05/21BAXTER INTERNATIONAL : to Present at the Goldman Sachs Healthcare Conference
AQ
05/21IHS Markit Agrees to Buy Ipreo for $1.86 Billion
DJ
05/21GOLDMAN SACHS : IFC, Goldman Sachs Initiative Invests $1 Billion in Women Entrep..
AQ
05/19GOLDMAN SACHS : Entity Files IPO -- WSJ
DJ
05/19GOLDMAN SACHS : Backed Firm Seeks Industrial Deals -- Update
DJ
More news
News from SeekingAlpha
05/26STOCKS TO WATCH : Powerhouse CEOs In The Limelight 
05/25THE FUTURE OF BANKING : How Industry Changes Will Disrupt The Banking Norms 
05/24GOLDMAN, BLACKSTONE RESOLVE DISPUTE : Wsj 
05/24MARKET VOLATILITY BULLETIN : S&P Holds The 2700 Line In The Wake Of Geopolitical.. 
05/24IHS Markit To Acquire Ipreo For $1.86 Billion And More Debt 
Financials ($)
Sales 2018 35 327 M
EBIT 2018 12 217 M
Net income 2018 8 994 M
Debt 2018 -
Yield 2018 1,36%
P/E ratio 2018 10,23
P/E ratio 2019 9,71
Capi. / Sales 2018 2,51x
Capi. / Sales 2019 2,47x
Capitalization 88 768 M
Chart GOLDMAN SACHS GROUP
Duration : Period :
Goldman Sachs Group Technical Analysis Chart | GS | US38141G1040 | 4-Traders
Technical analysis trends GOLDMAN SACHS GROUP
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 272 $
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
Lloyd Craig Blankfein Chairman & Chief Executive Officer
David Michael Solomon President & Chief Operating Officer
R. Martin Chavez Chief Financial Officer & Executive Vice President
James A. Johnson Independent Director
William W. George Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
GOLDMAN SACHS GROUP-7.75%88 768
MORGAN STANLEY2.92%93 842
CHARLES SCHWAB CORPORATION (THE)13.18%77 308
CITIC SECURITIES5.30%34 988
NOMURA HOLDINGS INC-13.28%19 546
HUATAI SECURITIES1.68%18 124