ExxonMobil Touts Africa Businesswomen's Network

ExxonMobil and Vital Voices Launch Africa Businesswomen’s Network at World Economic Forum on Africa

June 10, 2009 -- CAPE TOWN, South Africa -- Exxon Mobil Corporation (NYSE:XOM) and Vital Voices Global Partnership3 today joined with local businesswomen’s organizations throughout Africa to announce the launch of the Africa Businesswomen’s Network (ABWN) at the World Economic Forum on Africa.

Article continues below...

The ABWN aims to build and support a network of businesswomen’s organizations in Africa to expand the number of women succeeding as entrepreneurs and leaders in the corporate world; to raise the profile and credibility of women in business; to foster global networking opportunities among businesswomen; and to advocate for policies that expand economic opportunity for women. Network Hubs are now underway in Sub-Saharan African countries including Cameroon, Ghana, Kenya, Nigeria, South Africa and Uganda.

“Women entrepreneurs are vital to reducing poverty and driving economic growth in Africa,” said Rex W. Tillerson, chairman and chief executive officer of ExxonMobil. “ExxonMobil is proud to support the Africa Businesswomen’s Network to stimulate the invaluable knowledge-sharing, networking and collective action that will enable women business leaders to join forces to unleash the untapped economic potential of other African women and ultimately fuel greater economic growth.”

“The ABWN will address some of the unique barriers women entrepreneurs face, including negative and unsupportive policy and social environments; poor access to input and output markets and technologies; and inadequate access to information,” said Alyse Nelson, President and CEO, Vital Voices. “The launch of the ABWN is a testament to the incredible potential of female entrepreneurs to effect positive social and economic change in Africa, and the integral role companies like ExxonMobil can play in supporting women’s economic opportunities.”

“Research demonstrates that networks are a powerful mechanism to enable economic organizing among female entrepreneurs and are a proven catalyst for business growth,” said Lorie Jackson, Manager of ExxonMobil’s Educating Women and Girls Initiative. “Women’s business networks and associations combine existing resources to make use of the size and scale that individuals and micro or small enterprises alone do not enjoy and collectively address fundamental barriers to women’s economic success.”

Recognizing the integral role that women play as drivers of economic and social change, in 2005 ExxonMobil launched the Educating Women and Girls Initiative, which provides training, resources and support networks to help women in developing countries fulfill their economic potential. The ExxonMobil Foundation has committed grants totaling nearly $20 million for programs including intensive leadership and skills development programs for women from 27 African countries.

Source: Exxon Mobil Corporation