Strengthening the Power of Women in Business in El Salvador

The role of women in the business world has progressed by leaps and bounds in recent years. To support this progress, Citi has created a Mentoring Program with Vital Voices, with the aim of creating alliances between Citi executives and female entrepreneurs to support their business projects through mentoring relationships and tutoring sessions.

In 2013, pilot programs launched in Argentina, Egypt, Kenya and El Salvador. In El Salvador, mentors from Citi participated by giving their time and expertise across a variety of different areas to El Salvadoran women who were looking to improve their businesses. Over twenty mentor/mentees teams worked together for over a year. During their time, mentors provided feedback on mentee projects, and together they discussed key issues for the growth and development of each of their businesses, with the aim of improving operations within each company.

Owing to the project's success in 2013, the Mentoring Program was re-launched for 2014 in El Salvador. In September, the new series of meetings began between mentors and mentees, bringing together 30 new partner pairs. They organized tutoring sessions throughout the year where they could learn more about themselves, share experiences, thoughts, and above all, exchange valuable knowledge usable for the growth and development of their businesses.

This initiative uses specific criteria to thoroughly evaluate the progress of each participant, including management skills, mastery of accounting, marketing capabilities, use of technology, and other details. Initially, each team establishes concrete objectives to achieve during the tutoring sessions, and the progress is monitored through surveys and face-to-face meetings. The goal of the process is to achieve these objectives and gain extra knowledge that supports the direction of each team.

The trainees are women from the Business Women's Network of Vital Voices. As a requirement from Citi, each group must have a business with sales exceeding 40,000 US Dollars per year. If they meet this requirement, they must also demonstrate that their availability and enthusiasm to participate in the mentoring process.

Citi, as part of its Corporate Social Responsibility program and Citi Women, has organized this partnership for a third time in 2015, after the successful implementation of the pilot program in 2013.