Celebrating women in business: Impact investing in Jamaica and beyond
- Zahra Henry
- Mar 3
- 5 min read
Updated: Sep 8
In the business consulting world, staying informed about global economic trends, industry shifts, and the evolving landscape of leadership is essential. This is especially true for socially-driven consultants, where these areas intersect through social finance, impact investing, and the broader field of development finance.
As a woman-led organisation, ZLH Careers is deeply invested in the advancement of professional women, recognising both the barriers they continue to overcome and the vital role they play in shaping resilient economies. On that account, being present at the Scotia Women Initiative (SWI) forum on February 4th, 2024 was more than just attendance—it was an affirmation of our commitment to meaningful progress in championing women in business and supporting their entrepreneurial leadership.
Gender Equity Through Finance, Education, and Coaching
Organised by Scotiabank Jamaica, the event marked the third anniversary of the SWI, a programme originally founded by Scotiabank Canada and now active across other Scotiabank regions, including Jamaica. The initiative was designed to break down financial and professional barriers for women, ensuring they are not sidelined from opportunities to build businesses, generate wealth, and lead industries.
Under the theme “The State of the Jamaican Woman,” this year’s forum provided a powerful platform for discussing women’s economic empowerment, the urgency of financial inclusion, and the persistent structural challenges that limit women’s participation in business and society.
At its heart, the SWI is built on three transformative pillars:
1. Access to Capital
Women-led businesses often face difficulty securing loans, equity investments, or even basic credit facilities. SWI directly addresses this by offering tailored financial solutions such as gender-lens investing, impact financing, and small business lending. These mechanisms help bridge funding gaps and enhance economic opportunities for women entrepreneurs.
2. Education
Financial literacy and business acumen are critical to sustainable growth. SWI provides workshops, resources, and training designed to strengthen women’s financial skills and professional confidence. From managing cash flow to scaling enterprises, the education component ensures that women are not only starting businesses but also growing them strategically.
3. Coaching, Advising, and Mentorship
The third pillar is about human connection. By creating peer networks and linking women to experienced mentors, SWI provides access to practical insights, guidance, and encouragement. These relationships help women navigate challenges and identify opportunities they may not have seen otherwise.
The results of these three pillars are already visible. To date, SWI has disbursed over J$3 billion to support women entrepreneurs across industries including manufacturing, retail, technology, tourism, and education (Our Today, 2024). This investment underscores an undeniable truth: women are not only vital contributors to the economy but also powerful drivers of innovation and long-term business success.
Powerful Voices, Meaningful Insights
What set the forum apart was not just the structure of the program, but the voices of the women who shaped the discussions. The event brought together an impressive roster of thought leaders and changemakers, each offering invaluable perspectives on the realities and opportunities for women in Jamaica today.
Among the speakers were:
Jackie Stewart Lechler, Managing Director, Stewart’s Automotive Group
Patricia Francis, CD, Chairperson, Trade Facilitation Task Force, Government of Jamaica
Rev. Dr. Marjorie Lewis, Chaplain, Acadia University
Audrey Tugwell Henry, President and CEO, Scotia Group Jamaica
Claire Bernard, Deputy Director General, Planning Institute of Jamaica
Dr. Jacquiline Bisasor-McKenzie, CD, Chief Medical Officer, Ministry of Health and Wellness
Djavilla Ho, President, Jamaica Psychology Association
Deesha Delatie-Budaire, Deputy Director General, Statistical Institute of Jamaica
Together, these speakers explored the intersection of gender equity, public policy, leadership, and entrepreneurship. Their conversations highlighted both progress and ongoing gaps—underscoring how important it is for forums like SWI to exist, and for stakeholders from across sectors to contribute.
For example, discussions touched on the financing gap that continues to hold women-led enterprises back, even though research shows that women are often more consistent in repayment and more likely to reinvest profits into their families and communities. Others pointed to the cultural expectations that women balance entrepreneurship with caregiving responsibilities, which adds an invisible layer of difficulty to building a business.
These insights were not just theoretical—they reflected the lived experiences of women leaders actively driving industries, balancing challenges, and reshaping narratives.
ZLH Careers’ Perspective
Sitting in that room surrounded by trailblazing women, listening to their stories of resilience, innovation, and leadership, was a poignant reminder of why initiatives like the Scotia Women Initiative matter.
It is one thing to talk about economic empowerment, women-focused funding, and business grants for women in abstract terms. It is another to witness the tangible ways in which structured support changes lives and careers. SWI is not just about providing access to capital—it is about unlocking potential, shifting mindsets, and dismantling systemic barriers that hold women back.
At ZLH Careers, we believe deeply in this mission. Our work in career development and business consulting is rooted in equipping professionals and enterprises with the tools they need to thrive. This event was an affirmation that our approach—centering skills, knowledge, and opportunity—aligns with broader efforts to build more inclusive economies.
Why This Matters for the Future
As we reflect on the SWI forum, it becomes clear that gender equity in business is not just a matter of fairness—it is a matter of economic necessity. Studies by organizations like the IMF and McKinsey show that closing gender gaps in entrepreneurship and leadership could add trillions to global GDP. For small, developing economies like Jamaica’s, the impact could be transformative.
Women entrepreneurs bring new perspectives, create jobs, and strengthen communities. When women have access to funding, training, and networks, their businesses are more likely to survive economic shocks, diversify industries, and spark innovation.
But none of this happens automatically. It requires intentional support—from banks, policymakers, educators, and community leaders. That’s why initiatives like SWI are so critical, and why their expansion across the Caribbean will continue to shape regional economies in the coming decade.
A Call to Action
As we celebrate Women’s History Month, we do so not only by honouring the achievements of women who paved the way, but by committing to action in the present. That means:
Banks and financial institutions must continue innovating products that meet the unique needs of women entrepreneurs.
Educators and mentors must share knowledge and create supportive ecosystems for women to grow their skills.
Consultants and business leaders—like us at ZLH Careers—must actively champion women, advocate for inclusive policies, and design capacity-building programs that open doors.
Women themselves must be reminded that their voices, ideas, and businesses are not only valid but vital.
Final Reflections
The Scotia Women Initiative is more than a program—it is a movement. It represents a recognition that true progress requires structural change, and that women must be fully equipped and supported as leaders, entrepreneurs, and decision-makers.
For ZLH Careers, being present at the SWI event was a reaffirmation of our mission: to ensure that professionals across the Caribbean, and especially women, are prepared to meet the challenges of today’s business world with confidence and capacity.
The road to equity is ongoing, but with initiatives like SWI and the collective power of women who continue to rise, the future of business in Jamaica—and the wider Caribbean—is brighter, more inclusive, and more resilient.
References
Scotiabank Jamaica (n.d.). The Scotiabank Women Initiative (SWI).
Our Today (2024). Scotiabank Women Initiative celebrates three years with forum on the state of the Jamaican woman.
Scotiabank Jamaica (2024). Scotiabank Women Initiative Forum Highlights.
ZLH Careers (2024). Reflections on the Scotia Women Initiative event.
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