From Investing in Women to Including Them: Women from All Walks of Life Take Center Stage at the 2024 International Women’s Day Celebration

The 2024 International Women’s Day Celebration, led by the Philippine Commission on Women (PCW), UN Women Philippines, and SM Supermalls, introduced a transformative world where women are seen, valued, and included because there is a “Lipunang Patas sa Bagong Pilipinas” at long last.

The March 8 event titled, “Investing in Equality toward Gender-inclusive Prosperity” may now be over, but its impact can last even longer than the National Women’s Month itself because the celebration has become a call to action for Women and Everyone (WE) as outlined by the national entity for gender equality and women empowerment in a press release. 

• WE must invest in women wisely. One way of doing so, according to PCW Officer-in-Charge, Atty. Khay Ann C. Magundayao-Borlado, is through effective utilization and implementation of the Gender and Development (GAD) budget.

This topic was further discussed by Ms. Anita E. Baleda, Chief of the Policy Development, Planning, Monitoring and Evaluation Division of the PCW, Assistant Commissioner Fortunata M. Rubico from the Legal Services Sector of the Commission on Audit (COA), and Director Miramel Garcia-Laxa from the Program Management Bureau of Department of Social Welfare and Development (DSWD) in a panel dialogue on gender-responsive budgeting.

• WE must start local. Prioritizing grassroots work is proven to bring about sustainable and lasting change as agreed by members of the panel discussion on championing women empowerment. These panelists include Australian Ambassador to the Philippines, Her Excellency HK Yu; Ambassador of Canada to the Philippines, His Excellency David Hartman; International Labour Organization (ILO) Country Director, Mr. Khalid Hassan; and Director of Gender Equality from the Climate Change and Sustainable Development Department of the Asian Development Bank, Ms. Samantha Hung.

One of the resource speakers, Director Anna Liza F. Bonagua from the Bureau of Local Government Development of the Department of the Interior and Local Government (DILG), tackled this in her talk on strategies for stronger GAD budgeting in the local government.

• WE must know the numbers. Statistics and data are important because they serve as the key to addressing prevailing challenges. This was fully explained by United Nations Resident Coordinator in the Philippines, Mr. Gustavo González in his special message.
  
• WE must act now. This was the challenge of UN Women Philippines Country Programme Coordinator, Ma. Rosalyn Mesina to GAD focal point system members of the Philippine government. Stressing that the present shapes the future, she emphasized the importance of reflecting on how our available resources can be leveraged to make a difference in achieving  gender equality and women empowerment.
  
• WE must continue working together. Senate President Pro Tempore Loren Legarda, who delivered the keynote speech, encouraged Women and Everyone to continue collaborating to create a gender-equal and prosperous Philippines.

In a video message played at the end of the 2024 IWD Celebration, President Ferdinand R. Marcos Jr. urged collective action towards innovative solutions for women empowerment as well as a meaningful result for gender equality. 

This urgent call of government leaders to continue working together extends not only to women but also for men, individual with diverse SOGIESC (sexual orientation, gender identity, gender expression, and sex characteristics), and various institutions including the international community, national government agencies (NGAs), local government units (LGUs), non-governmental organizations (NGOs), civil society organizations (CSOs), people’s organizations (POs), media entities, financial institutions, business community, and the entire private sector.

In response, panelists from the diplomatic corps, United Nations agencies, Philippine government, banking institutions, business sector, and various groups shared their diverse perspectives and participated in the following powerful panel dialogues to know and to help improve the current status of Filipino women:

• Championing Women Empowerment: A Global Perspective (moderated by UN Women Champion, Ms. Rissa Mananquil-Trillo)
• Empowering Communities through Gender-Responsive Budgeting (moderated by Ms. Jeanne Frances I. Illo, Gender Specialist from the UPPAF Regulatory Reform Support Program for National Development)
• Bridging the Gap: Technology and Women Empowerment in Business (moderated by another UN Women Champion, Ms. Bianca Gonzalez-Intal)
• A Double-Edged Sword – Navigating the Benefits and Challenges of Technology (moderated again by Ms. Bianca Gonzalez-Intal)

These dialogues are anchored in the IWD theme, “Invest in Women, Accelerate Progress.”

Women in Finance: BSP reports efforts in promoting gender-inclusive financing and supporting MSME finance

How do Filipino women perform in the field of finance? Is the future of finance female-led?

These questions spark conversations all the time. According to the 2021 Financial Inclusion Survey (FIS) of the Bangko Sentral ng Pilipinas (BSP):

• Filipino women consistently outperformed men in basic financial inclusion indicators 
• 57% of Filipino women had transaction accounts compared to only 54% of men
• More Filipino women owned accounts in microfinance NGOs and cooperatives

But while this figure suggests a state of gender inclusion favorable to women, there remains other dimensions of inclusion where women lag behind men like owning more sophisticated forms of transaction accounts as well as taking up resilience building financial assets such as insurance and investment. 

Thus, Atty. Charina B. De Vera-Yap, Managing Director of Financial Inclusion and Consumer Empowerment Sub-Sector of the BSP, emphasized in her speech on gender-focused financing that the appreciation of the state of women’s inclusion in the Philippines depends on where we direct our attention.

“For micro-, small and medium-sized enterprises (MSMEs) in our country, which is dominated by women entrepreneurs, women-owned and led businesses remain still at a disadvantage,” she added. 

The following data from the FIS supports her statement:

• More than half of women-owned MSMEs perceived access to finance as a challenge compared with only one third of men-owned MSMEs
• Women business owners exhibited greater reluctance to seek funding in contrast to their male counterparts
• Most women-owned MSMEs only had basic barangay or mayor’s office permits unlike male entrepreneurs registered with the Department of Trade and Industry (DTI) and Securities and Exchange Commission (SEC)
• Women entrepreneurs used fewer banking services than their male counterparts
• Only 9% of women-led MSMEs received training and knowledge building seminars 

“If we want to support the development of the MSME sector to realize its full potential as driver of inclusive economic growth, we cannot overlook access to finance of women as a specific focus of our inclusion work,” Atty. Yap underscored.

She also suggested that policymakers can tailor interventions that will address specific barriers to financial inclusion by understanding the challenges and needs of women-owned MSMEs. For their part, Atty. Yap said that the BSP strives to create an enabling environment that addresses the hurdles faced by Filipinos, particularly women in accessing financial services. 

Efforts of the central bank include the introduction of the Basic Deposit Accounts in 2018, the adoption of the Standard Business Loan Application Form (SBLAF), the development of the Agent Registry System, the implementation of the SheMeansBusiness Business Resiliency through Financial Education (BRFE) Program, among others.

Atty. Yap further emphasized the importance of collecting gender-disaggregated data (GDD) collection to ensure the sustainability of women’s financial inclusion initiatives.

“Gender data serves as a cornerstone for informed policy making and the refinement of programs tailored to address the diverse needs of women in the financial landscape,” she explained.

In addition, Atty. Yap said that the BSP has various institutionalized partnerships with key government agencies like the PCW, which she commended for their strong commitment to the National Strategy for Financial Inclusion (NSFI) 2022-2028. 

“We thank the Philippine Commission on Women for our continued partnership to achieve meaningful, positive outcomes for women as financial consumers. Since joining the Inter-Agency Financial Inclusion Steering Committee in 2020, PCW has provided leadership in making significant strides in women’s financial inclusion possible,” she proudly said. 

Atty. Yap also shared that the BSP has more women executives for many years now, with 61% occupying managerial and executive positions. She is optimistic that this trend will continue in the years to come.

“This also shows that the BSP has remained steadfast in our commitment to empowering women through building an inclusive work environment. The BSP is committed to fostering an environment conducive to the development of financing ecosystem that better serves the needs of MSMEs and the agriculture sector with a particular focus on women,” she stated.

Atty. Yap ended her speech by stressing the importance of collaboration among various stakeholders from both public and private sectors.

“We remain dedicated to working closely with you, our partners, to advance our shared goals of financial inclusion. Together, we aim to create a more inclusive and resilient financial system that benefits all Filipinos,” she declared.

Aside from the BSP, the IWD Celebration was graced with the presence of financial experts such as Ms. Leila C. Martin (Executive Vice President and Head of Digital Banking Sector from Land Bank of the Philippines), Atty. Federico Tancongco (Senior Vice President, Chief Compliance Officer, and Head of Compliance and Legal Department of BDO Unibank), Mr. Joel C. Andres (SAVP of the Consumer Banking Group Fraud Risk Management Unit of BDO Unibank), and Ms. Gina Romero (Co-Founder of Connected Women). They served as panelists in one of the dialogues and shared their perspectives on the impact of technology on the field of finance particularly the banking sector.

Women in Technology: She Loves Tech shares practical tips on how women can break into the tech industry

Do women need to be tech-savvy to thrive in the tech industry? Is it impossible for a woman to be a founder?

The answer is no for Ms. Leanne Robers, co-founder of She Loves Tech and one of the guest speakers during the IWD Celebration. She Loves Tech is the world’s largest acceleration platform for women and technology targeted at building a global ecosystem to facilitate greater visibility, funding opportunities, and community among women in technology to catalyze US$1 billion in funding for women by 2030.

“You don’t have to be a techie to be in tech. You just have to be willing to learn and to grow. Tech is gonna keep evolving, is gonna keep changing. With technology changing as quickly as it is, the truth is no one is truly a specialist. But this gives us a great opportunity to level up: by being willing to learn,” she emphasized. 

Ms. Robers shared that while her career is in technology, her background is in psychology. Nonetheless, her curiosity and willingness to learn became her key to success as she quickly became the youngest female manager in her first job at a large engineering conglomerate in the United Kingdom, leading a team of older Caucasian male engineers. She recalled that it was her initiative to build a project requiring  coding skills, despite having zero knowledge of coding, that propelled her into a leadership role. 

“And don’t get me wrong, I’m not a coder. I’m still not a coder. But it started me on a path to become a leader in tech because I wasn’t afraid to learn and familiarize myself with code. And I now understand when my teams build tech products. I understand what the engineers are even talking about,” she said.

Now that she is finally seeing the bigger picture for women and technology, the She Loves Tech co-founder has identified and simplified the two main reasons why women remain underrepresented in the tech workforce, tech leadership, and tech investing: structural barriers and mindset challenges. She also pointed out that startups founded by women receive a meager 2% of total venture capital funding, while startups with both men and women founders receive between 12 to 15%. 

“So, what does that mean? That means that more than 80%, 80% of total venture capital money is going to all-male founded teams. This system is not serving women. Women risk being left behind in a world where everything is increasingly about technology. And it’s not serving the world, which risks losing our incredible contributions from half of the population,” she declared. 

Ms. Robers further explained that the structure and inertia of corporate and financial systems work against women. The lack of representation and role models discourages younger women from pursuing a career in technology. She added that being the only woman in the team can be extremely isolating. Workplace cultures and hiring practices can also harbor unconscious biases that create obstacles for women. 

Another issue that holds women back is the internal barriers they place on themselves. Ms. Robers revealed that as she met more and more founders, she observed widespread self-limiting mindsets and behaviors stemming from imposter syndrome, which she calls ANTS or automatic negative thoughts. These are the negative self-talk that can play on a loop in women’s minds, undermining their confidence and potential.

“When we experience these ANTS (automatic negative thoughts), we may begin to doubt our abilities and question our decisions. We become risk-averse, avoiding challenges or opportunities that could lead to growth and success. We feel like we don’t belong or we don’t have the skills or the knowledge to contribute to a project or discussion. We, then, are always in a small mindset,” she explained. 

Recognizing that this limited mindset can cause both women and men to miss out on valuable opportunities to learn, grow, and advance in their careers, She Loves Tech supports entrepreneurs through psychology of founder courses, coaching, and mentorship. These  programs enable  founders to make significant strides in their growth by cultivating the right mindset. However, Ms. Robers encouraged the IWD audience that changing mindsets is something that Women and Everyone can do for themselves.

“The good thing is that this is not something that we need governments or corporates to solve. Although there are very meaningful ways that they can support us, we need to start and address this ourselves. We can start today. We can even start right now in this room. It starts with a gradual mindset shift. We need to learn to celebrate our achievements, to own our successes, and to embrace our unique strengths and talents. Because everything that makes us a woman makes us powerful. And we should celebrate our differences and use them as our strengths and not our weakness,” she said. 

But despite the differences that make each woman unique, Ms. Robers pointed out an undeniable similarity: most women find themselves juggling multiple roles and responsibilities, both in their personal and professional lives. They are expected to be the nurturers, caregivers, and emotional support systems to their families and their loved ones. At the same time, women are also expected to excel in their career, be the goal getters,  problem solvers, and leaders in their respective fields. 

“Wow, that’s a lot,” she exclaimed. “While this ability to multitask and wear many hats can be seen as a strength, it really takes a toll on us, both mentally and physically. We are so used to being everything to everyone by pushing ourselves to the limit that we often forget to take a step back and prioritize our self needs. This constant pressure to perform and excel can lead to burnout, a state of emotional, mental, physical exhaustion caused by prolonged stress. When we are burned out, we feel depleted, empty, unmotivated, and unable to cope with the demands of our daily lives.”

Hence, Ms. Robers reminded women to recognize the signs of burnout and to take steps to prevent it. This entails learning to set boundaries, say no when necessary, and prioritizing  self-care. It also involves surrounding themselves with a supportive network of both women and of men who understand the unique challenges they face and can offer guidance, encouragement, and support. 

“Take care of yourself. Lean on your support system. And remember, self-care is not an indulgence. It’s essential for our productivity. If we can be kinder to ourselves, if we can shift from a small mindset to a growth mindset, if we can allow ourselves to celebrate what makes us special, and if we can harness our power and skill in technology, we can change the world and create a future where women are not just participants. We’re leaders, innovators in the tech industry and beyond,” she said.

Believing that women have fundamentally different experiences and perspectives than your typical tech bro, Ms. Robers encouraged women in tech to join their community, participate in She Loves Tech program and start-up competition, share their stories to inspire others, and mentor an upcoming woman founder.

“Technology is creating massive opportunities to change how we do business and how we live. Women have the chance to tap into their unique perspectives, to help investors, corporates, and governments. And if we include them, we all will benefit socially, financially from the world it will produce. We cannot understate the benefits of a world where women are involved in shaping our future through technology. The beauty of technology is that it doesn’t discriminate based on gender. It offers a level playing field where any driven person with a great idea can succeed,” she declared. 

As a wrap-up, Ms. Robers urged investors to commit to funding more women to address the gender funding gap.She also advised corporate leaders to examine their hiring practices, find small ways to make their culture more inclusive, and create an environment where  more women can  thrive. 

“If you’re none of the above, be an ally. Sponsor woman for leadership role. Refuse to speak on yet another all-male panel. Call out bias when you see it. Let us commit to being the change that we want to see in this world,” she concluded. 

Women in Business: SM Supermalls reiterates shared goal of leading Filipinas toward a place of prosperity

Can women prosper despite their gender? Is success a possibility for women in business?

These questions only have a resounding yes for an answer as agreed not just by foreign women entrepreneurs like Ms. Leanne Robers but even by Filipino women in business, who served as panel members of the dialogue on bridging the gap between technology and women empowerment in the business sector.

During the discussions, three Pinaypreneurs shared their personal experiences on leveraging  technology in their respective businesses and gave words of wisdom on how fellow women can follow in their footsteps to be successful entrepreneurs.

• Ms. Anne  Emperado-Macababat: “One thing that works for me as a woman entrepreneur is I always ask questions. Never be afraid to ask questions. ‘How do you do this?’ ‘What do you know?’ ‘How can we navigate through this certain type of problem?’ So, I always ask because most of us were afraid of asking because ‘Are they gonna give the answer that we need?’ And most of us, we always doubt, ‘Are we gonna be seen?’ ‘Are we gonna be heard?’ So, I just wanna say that, just start. Just start speaking or just start asking fellow women entrepreneurs.”

The owner of Malanne, Ms. Macababat has more than 10 years of experience in the hospitality and retail industry and as former Marketing Manager at SM Mall of Asia Arena, which paved the way for her to launch her own start-up brand. Malanne is currently being expanded from an online-based brand to physical stores nationwide.

• Ms. Eliza Antonino: “So, during the pandemic, we had this term that we called YouTube University. So, everything that we didn’t know how to do, you can Google it and look on YouTube. I think that’s the greatest thing on earth, that now you can learn. … And if you always want to learn, I mean you know, we can Netflix at night. But you can also YouTube at night and learn something new. And I think that’s what technology really gave to all of us today, which is great.”

The Moment Group is proud to have Ms. Antonino as its co-founder, managing partner, and Growth Director. She established her first restaurant while still a student and went to the Four Seasons Hotel in New York after earning her university degree. She has owned and operated numerous restaurants through the years. In its first decade in the F&B industry, The Moment Group has 13 home-grown food brands with 58 doors opening in and outside of Metro Manila.

• Ms. Zarah Jane Juan: “Like most people, I’m still asking myself ‘How am I gonna keep up with AI?’ ‘And how am I gonna apply it to what I’m doing?’ But listening to Leanne today, it gave me so much hope and so much excitement. … Like most of us here who are afraid, I’m lessening that fear now and adding to my knowledge because I always believe fear is always an absence of understanding things. And that’s why we get afraid because we don’t understand. And today, I go home with a little more in my heart and in my mind that things can get better with AI.”

A creative and social entrepreneur, a visionary designer, and the force behind Zarah Juan, the designs of Ms. Juan have graced the pages of prestigious fashion magazines such as Vogue Italia, Vogue Hong Kong, and Vogue Philippines. She represented the Philippines in Papua New Guinea for the APEC BEST Award in 2018 and won the Most Innovative Business Model. She was also awarded Top 100 Most Influential Filipina in the World in Paris, France in 2019.

Seeing these Pinaypreneurs prosper and share their success stories with fellow women is what the PCW, UN Women Philippines, and SM Supermalls envision: an environment that is inclusive and empowering for women and girls from all walks of life.

“We all share one goal – to lead Filipinas toward a place of prosperity in whatever field they are in. Each March 8, we reflect on the strides we have made in advancing the rights and empowerment of women. The right to vote. Breaking barriers in traditionally male-dominated fields. Through the years, women have continuously shattered glass ceilings and defied expectations,” Mr. Steven Tan, President of SM Supermalls stated in his opening remarks. 

Optimistic that the meaningful connections forged during the event will bear fruit in the coming year, Ms. Jessica Bianca Sy, Assistant Vice President and Program Director of SM Prime Holdings Inc. echoed what Mr. Tan said.

“This year’s International Women’s Day theme resonates deeply with SM’s commitment to creating a more inclusive and equitable world. SM loves women. Our organization is run by women. Majority of our employees are women. And over 70% of our shoppers are women. Yes, we recognize how big of a role women have for our organization, but more importantly in our lives, in our communities, in our homes, and in our own workplaces. Investing in women is not just a moral imperative, but a strategic imperative for a better world,” she emphasized.

On behalf of the whole SM Group and their partners, Ms. Sy thanked everyone who was present at the IWD Celebration and encouraged them to continue investing in women and accelerating towards progress as part of their commitment to the UN Sustainable Development Goal (SDG) 5: Achieve gender equality and empowerment for women and girls.

“We’ll leave this event hall today with a renewed sense of purpose and determination to continue the fight for gender equality in our communities, our workplaces, our malls, our societies, and our homes at large. Being here today means we are the ones who must stand up, speak out, and create a world where every woman and every girl can reach their full potential,” she said in her closing message.

Women in the Philippines: President Marcos recognizes Filipino women as leaders and nation-builders

In his statement for the National Women’s Month Celebration and the 68^th session of the Commission on the Status of Women, President Marcos lauded Filipino women from all walks of life and recognized the pivotal role they play in shaping the country’s herstory.

“From our revolutionary heroines who fought against colonial powers to our modern day female leaders,  Filipino women have made a profound impact in leading our country towards progress,” he said in his video message. 

He also addressed persisting challenges such as poverty, crises, and violence that disproportionately affect women, as highlighted by the session chaired by the Philippines through Mr. Antonio Manuel Revilla Lagdameo from March 11 to 22, 2024 in New York. 

“And to combat this, the Philippines always prioritizes gender mainstreaming, offering education, skills training, and support for female entrepreneurs. We empower women in decision-making roles, recognizing their agency and driving sustainable development across all goals,” he indicated. 

The President added that through legislation, the government ensures a secure environment for all women and girls, criminalizing sexual harassment and trafficking, fostering a “Lipunang Patas sa Bagong Pilipinas” for them.

“Equality between men and women is in the DNA of the Filipino. We believe that without meaningful participation and inclusion of women, we cannot move forward as a nation and successfully attain our country’s goals,” President Marcos declared.

This year’s IWD Celebration also commemorated the 20th anniversary since the signing of the Anti-Violence Against Women and Their Children Act or Anti-VAWC Act of 2004. This law was enacted to address the prevalent issue of violence committed against women and their children by intimate partners. 

Indeed, March 8, 2024 had been an empowering and inspiring occasion for Women and Everyone in the country because WE came together not for the purpose of competing, but only to collaborate, to celebrate, and to create a whole new world where #WEcanbeEquALL.

To every Juana and Juan, thank you and WE will see you again on March 8, 2025!