To celebrate Women’s World Banking’s 45th anniversary, we are showcasing voices from around the world who have shaped our journey since 1979—from the Commission on the Status of Women to today. These stories reflect the impact of Women’s World Banking across the women we serve, our customers, and the allies driving financial inclusion forward.
Celebrating Mary’s Legacy: An Explorer for Financial Empowerment in Africa
Dr. Mary Okelo’s name stands as a pillar of strength and inspiration in the history of Women’s World Banking (WWB). Her contributions laid the foundation for breaking systemic barriers that excluded women from economic participation, transforming the landscape for generations to come. Through her journey, we see not only the transformative power of leadership but also the profound impact of courage, determination, and vision.
Equity and Compassion
Mary’s journey began with the values instilled in her by her parents. “In my upbringing, my parents gave equal opportunities to both boys and girls. We had no discrimination,” Mary shares. Her parents cared for people with disabilities and the marginalized, empowering them to lead meaningful lives. “This background instilled in me the motivation to share what I have with others, helping them to live their purpose,” she adds.
Her education further reinforced these values. As one of only 13 girls selected in the country to pursue Cambridge Advanced Levels, Mary felt the weight of responsibility. “We were told if we failed, other girls would not have an opportunity to do A-Level. This gave me the desire to support others. We supported each other, and we all succeeded. I learned that if a woman succeeds, it motivates other women to succeed,” she explains.
This spirit of Ubuntu, the African philosophy of collective well-being, also became a cornerstone of Mary’s approach to leadership and community building. “I am an African raised in the spirit of Ubuntu, which reminds us to care for others—‘that I am who I am because of who we all are.’ When you see a barrier, you remove it so that those following you have easier access,” she says.
Founding Kenya Women Finance Trust
In 1981, Mary co-founded the Kenya Women Finance Trust (KWFT) as an affiliate of WWB, sharing its mission of empowering women economically. “We started KWFT to empower women financially so they could participate equally in society and the economy,” Mary recalls.
At a time when financial systems excluded women, KWFT faced monumental challenges. “Banks and financial institutions were unwilling to take the risk of extending financial services to women,” she says. But her resilience and resourcefulness prevailed. Mary approached every bank in the country, but only Barclays, through its Managing Director TD Miles, was willing to provide a guarantee. She mobilized 100 women as founder members to raise initial capital, but the lack of financial literacy among women added to the difficulties. “Women were not familiar with financial language and operations. They required a lot of training, which was expensive and time-consuming,” Mary explains.
Despite these hurdles, KWFT not only broke down systemic barriers but also demonstrated that women were bankable. “Women proved to banks that they could repay loans and manage finances, paving the way for banks to accept them and create special products targeting them,” she says.
Breaking Gender Norms in a Male-Dominated Industry
As the first female bank manager in East Africa, Mary faced significant societal and institutional resistance.
“Male clients would walk into my office and ask, ‘Where is the manager?’ They were not used to discussing financial issues with women. Some treated me as a sister, mother, or girlfriend, but it always took time to break that barrier,” Mary recounts.
Institutional challenges were equally daunting. “The first Barclays branch I was sent to had no ladies’ toilet. I was shown a door, and when I got in, I saw male standing urinals, which I was unable to use,” she recalls. Yet, Mary’s resilience and adaptability shone through, inspiring women to enter leadership roles in banking.
Her advocacy extended to defending women in the workplace. “If a woman became pregnant and was threatened with dismissal, I had to defend her. I also had to sensitize women about resisting sexual favors and fight sexual harassment,” she says. Her efforts laid the groundwork for greater gender equity in the banking sector, breaking barriers and setting a precedent for future generations of women leaders.
As the founder of the Barclays Bank Women’s Association, she mentored countless young women. “The mentoring program enabled them to grow professionally and rise to leadership positions. At one time, Barclays had the highest number of women in managerial positions in the country,” she shares proudly.
Memories with Women’s World Banking
Mary’s fond memories with Women’s World Banking are as rich and impactful as her achievements. One of her most cherished recollections was her partnership with Michaela Walsh, the visionary founder of Women’s World Banking. “Meeting and working with Michaela Walsh changed my life,” Mary shares. “Her courage and commitment inspired me. When she appointed me as Africa Regional Representative, it gave me exposure and opened many doors for me.”
Under her stewardship, Women’s World Banking established affiliates in Uganda, Senegal, and Zambia, among other countries. Her advocacy also influenced broader policy changes. “At the policy level, the removal of all discriminatory laws against women and the adoption of the Women in Development policy paper by the African Development Bank were big achievements,” she says. From empowering women to prove their bankability to influencing banks to develop products specifically tailored for women, her work helped remove systemic barriers and create opportunities for women to thrive economically.
A Call for Continued Progress
While Mary celebrates the progress made in women’s financial inclusion, she emphasizes that much work remains. “Women are still mainly in microfinance, and it’s time they graduated to macro-finance. More training, mentoring, and sharing of information beyond micro is necessary,” she urges.
Mary’s legacy with Women’s World Banking and her work in Africa continue to inspire generations of women to break barriers, create opportunities, and lead with purpose.
Explore the inspiring stories of other Women’s World Banking founding members like Michaela Walsh, Ela Bhatt, and Esther Ocloo and learn more about WWB’s ongoing work in Africa.
Women’s World Banking remains committed to economic empowerment through financial inclusion for nearly one billion women who lack access to formal financial services. Our approach—rooted in market research and advocacy—translates insights into real action, from digital financial solutions to gender lens investing and workplace leadership programs.
As part of our strategy, we’ve already helped 86 million women in emerging markets access financial products that transform their lives. We’re on track to reach 100 million by 2027, driving inclusive growth globally.
Let’s close the financial gap. Join us in reaching the nearly billion women still excluded from the formal financial system. Donate today.
