In a recent interview on the Energy Perspectives podcast, Lady Cherie Blair, a King’s Counsel and founder of the Cherie Blair Foundation for Women, emphasized the critical role women must play in Guyana’s rapidly growing economy.
Blair who has been a formidable advocate for women’s rights and leadership, highlighted the necessity for women to be at the forefront of Guyana’s economic transformation driven by the burgeoning oil and gas industry.
Noting that there is potential for Guyana’s oil wealth to catalyze broader economic opportunities beyond the oil and gas sector, she highlighted the diverse range of businesses women in Guyana are engaged in, from construction and professional services to zero-waste shops and beauty businesses. This diversity, she argued, shatters stereotypes about women’s roles in the economy and underscores their capability to excel in various fields.
She pointed out that women’s participation is not just a matter of equality but a strategic economic imperative. “If everybody in the world isn’t having the equal opportunity to be the best they can be in whatever their talents take them, the world misses out,” she said, underscoring the broader impact of gender equality on global economic potential.
To ensure women lead in this economic transformation, Blair advised cultivating self-belief, building strong support networks, and seeking mentorship. She emphasized the power of women supporting each other, sharing an example from Nigeria where women in the foundation’s programme referred to themselves as “sisterpreneurs,” as they continuously supporting each other long after their training ended.
Blair also emphasized the need for practical steps to ensure women’s inclusion in the economic boom. She called for targeted financial products tailored to women’s businesses, collaboration between private sector entities and the government, and the creation of an enabling environment through supportive laws and policies. “Every business needs finance, and women in business find it more difficult to get finance,” Blair said, advocating for financial institutions to develop products that meet the unique needs of women entrepreneurs.
Blair also noted the impressive economic strides Guyana has made in recent years. The country has climbed over 100 places in global economic rankings, and significant improvements have been seen in gender economic equality. However, she stressed that continued effort and commitment are needed to maintain and accelerate this progress.
Blair’s foundation, which aims to revolutionize business opportunities for one million women by 2030, has already made significant strides in Guyana. Over the past three years, the Cherie Blair Foundation for Women has reached 250,000 women globally, with a notable portion of this success attributed to the work done in Guyana. Blair praised the country’s progress, citing the widespread use of the HerVenture app, a mobile application designed to provide women with essential business skills and confidence-building tools. “One in 25 women in Guyana use our HerVenture app,” Blair noted proudly.
The app has proven to be a game-changer, enabling women to transition from being “busy” to having a “business.” Blair shared stories of women who have seen significant improvements in their business outcomes shortly after using the app. This includes increased use of mobile money facilitated by a partnership with GTT, allowing women to expand their markets and receive payments more efficiently.
