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International development

Colombia: An inspiring community of practice to enrich the financial literacy of women entrepreneurs

November 2, 2020

Whether they live in Colombia or Canada, women entrepreneurs can encounter similar challenges and financial issues. The PROFEM project team and the Maison des Amériques teamed up to establish a community of practice that brings together young women entrepreneurs from both countries, with the goal of spurring dialogue and shedding light on their financial behaviours. A dozen women from the Caldas region of Colombia and 8 women from Latin America now living in Canada joined this community, which was intended as a pilot project.

Through WhatsApp, these women were able to discuss topics related to financial literacy over a 2-month period. Every week, they were given a new topic and were asked several related questions.

The topics included spending habits, savings tips, strategies for diversifying business income, the advantages and disadvantages of credit, online purchases and the planning involved in starting a project or business.

By sharing their achievements and mistakes, as well as the tools and strategies each used to overcome the challenges related to business and financial management, the participants significantly enhanced their knowledge, skills and autonomy.

The PROFEM project is carried out in partnership with Global Affairs Canada and several local organizations.