To celebrate Women’s World Banking’s 45th anniversary, we are showcasing the voices of individuals from around the world who have shaped and touched Women’s World Banking journey since its inception in 1979 at Commission on the Status of Women to today!
These are stories from across Women’s World Banking’s reach from the women we serve and our customers, to allies and women in leadership who have contributed to women’s economic empowerment and financial inclusion.
Research indicates that female leaders are more likely to champion climate action and sustainability, yet perceptions of their leadership have declined in G7 countries, with only 49% comfortable having a woman as CEO and 47% comfortable with women as heads of government. So in November 2024, we sat down with one of our portfolio company’s newly appointed Board Chair, Buhle Goslar, a fintech leader with over two decades of cross-continental experience and a fellow inclusive finance advocate, to discuss why. In Buhle’s episode of Making Finance Work for Women, we explored why the world hesitates to embrace female leaders, especially in the context of climate change—a crisis that disproportionately affects women.
Buhle Goslar is a financial technology leader with over 20 years of experience driving innovation across Sub-Saharan Africa, Europe, and Asia. She was the former CEO of JUMO for the Africa Region and has worked across financial services, technology, retail, and tourism. Buhle sits on countless boards and executive committees, including Lula, Aceli Africa, and CGAP just to name a few. As a strong female leader, we were delighted that such an expert like herself is in the fight with us for women’s financial inclusion.
“I’m not sure whether I found financial inclusion and gender equity as a space or if it found me,” Buhle’s early exposure to tribal, racial, and gender discrimination shaped her worldview, but her parents instilled in her a profound belief in limitless opportunity. “For years, they let me believe I could be president,” she recalls showing the power of support and encouragement.
Her career trajectory spans diverse sectors – travel technology, private banking, and retail financial services before landing in fintech. Each phase contributed to her understanding of economic inclusion. In tourism, she integrated micro and small enterprises into a lucrative industry. Private banking taught her the transformative power of capital, while retail financial services illuminated how access to financial tools can change lives.
Her story and ours became strongly interconnected in 2024 when Lula, a Women’s World Banking Asset Management‘s portfolio company, followed a policy of ours — to never fill a key position unless at least one-woman candidate has been identified. This led Lula, an African SME financing fintech, to Buhle Goslar, a perfect fit for Lula with her wealth of experience in digital lending for African women-owned MSMEs. This is a strategy Buhle describes as wise and necessary. “Organizations often default to what’s easy, surrounding themselves with people like them”.
Her advice? Be intentional. Seek candidates in spaces where women gather and involve networks to identify diverse talent. “Interestingly, three men in my network approached me about Lula. They were intentional about finding qualified women, and that made all the difference.”
From her vantage point, climate change and financial inclusion are deeply interconnected, both requiring intentional strategies and leadership to drive impactful solutions. Buhle Goslar brings a unique perspective to this nexus, shaped by her career, her advocacy for gender equity, and her commitment to innovative solutions in financial services in a heavily climate-vulnerable region.
Africa faces disproportionate climate vulnerability despite contributing minimally to global emissions. “The reality is concerning”, but Buhle highlights local initiatives as beacons of hope. From aerial water pipes in Kenya’s Kibera settlement to voluntary carbon credit projects benefiting communities, grassroots efforts demonstrate resilience and ingenuity. “We need more adaptation capital to flow to these local levels. They’re doing incredible work with limited resources.”
Buhle draws inspiration from Wangari Maathai, the Kenyan environmentalist whose work exemplified the intersection of gender equity, climate action, and economic empowerment. “She was one of the first to connect these dots, at a time when people were still debating whether climate change was real.” Buhle calls her legacy a powerful reminder of what’s possible when women lead with vision and courage.
- In the workplace, women’s leadership is associated with increased transparency regarding environmental footprints, and a higher percentage of women on a corporate board is known to correlate positively with the proper disclosure of greenhouse gas emissions. A critical mass of women on a board leads not only to better climate outcomes but also to more innovation.
- At the political level, research shows clear linkages between women’s leadership and action to tackle climate change. For example, studies have found that countries with higher proportions of women in parliament are more likely to ratify international environmental treaties and have stricter climate policies.
- In business, gender-diverse firms tend to have better environmental reporting and climate governance than their peers, and make more investments in renewable power generation and energy efficiency improvement.
As a leader who has served on numerous boards, Buhle reflects on the challenges and opportunities of driving gender diversity. “I looked up the value of men on boards versus women on boards [on Google],” she shares. “The results are telling—there’s no justification required for men, but women’s contributions are always questioned.”
Buhle emphasizes the importance of acknowledging the unique perspectives women bring while resisting reductive narratives.
“Women are full humans, not limited to specific areas like sustainability. We must recognize their ability to contribute comprehensively, from strategic finance to governance.”
Her approach balances celebrating women’s strengths of empathy, collaboration, and holistic thinking while advocating for equal participation. “It’s about creating truly diverse boards that reflect a range of opinions and perspectives”.
When asked how the financial sector can foster more leaders like her, Buhle reflects on the power of education and mentorship. “My parents invested in me despite societal pressures,” she shares. Scholarships and leaders willing to take risks on her non-traditional profile were pivotal in her journey.
She calls on leaders to extend similar opportunities to the next generation. “Take a chance on non-traditional candidates. And as you rise, send the ladder back down. Stay connected, share knowledge, and pay it forward.”
“Women’s leadership isn’t just about representation; it’s about creating better outcomes for everyone.” Her words challenge us to rethink norms and act with intention…. because the future of gender equity, financial inclusion, and sustainability depends on it.
Women’s World Banking is dedicated to economic empowerment through financial inclusion for the nearly one billion women in the world with no or limited access to formal financial services. Using our sophisticated market and consumer research, we turn insights into real action to design and advocate for policy engagement, digital financial solutions, workplace leadership programs, and gender lens investing.
As part of our current strategy, we’ve helped provide over 82 million women in emerging markets – targeting 100 million by 2027 – access and use of financial products and services that are transforming women’s lives, households, businesses and communities, and driving inclusive growth globally.
Help us reach the nearly billion women still excluded from the formal financial system. Donate now.
