In 2008, Goldman Sachs launched 10,000 Women, a five-year campaign to provide 10,000 underserved women around the world with business and management education.
The program is founded on research conducted by Goldman Sachs, the World Bank, and others, which suggests this kind of investment can have a significant impact on GDP growth.
Research also suggests that such an investment in women and girls can have a significant multiplier effect that leads not only to increased revenues and more employees for businesses, but also healthier, better-educated families, and ultimately more prosperous communities.
By supporting partnerships between a global network of universities and nonprofit organizations, the initiative funds business and management education certificate programs and offers a suite of "wrap-around services" for program participants.
Wrap-around services include mentoring, networking, access to capital opportunities and professional development activities. Local business people and the people of Goldman Sachs are paired with students to provide mentoring and advice.
10,000 Women also supports capacity building efforts with developing country educational institutions, thereby improving the quality of education in developing regions for generations to come.
Since its inception, 10,000 Women has become active in 16 countries. These include Afghanistan, Brazil, China, Egypt, Rwanda, and the United States. 10,000 Women is coordinated in local markets by a network of more than 50 academic and NGO partners.
Mary Ugbe, a recent 10,000 Women graduate, from Pan-African University in Lagos, Nigeria, owns Learn in Nigeria, which operates an online education portal and schools directory, and publishes The Learning Guide magazine, a family guide to education and parenting.
After enrolling in 10,000 Women, Ms. Ugbe more than doubled her revenues after negotiating a new sales contract with her advertisers. She has credited her coursework and mentoring relationship with much of her success, and represents the potential impact of the program.
She says, “It has been a wonderful experience. But it isn’t just about a program, it isn’t just about scholarships, and it isn’t just about courses; it is about 10,000 women just like me. The saying, 'When you empower a woman you empower a nation,' has never made more sense to me than it does now.”