Women Entrepreneurs, Global Microfinance, and Development 2.0
- Radhika GajjalaRadhika GajjalaSchool of Media and Communication, Bowling Green State University
- and Dinah TettehDinah TettehSchool of Media and Communication, Bowling Green State University
The 1970s brought forth strong movements for the financial empowerment of women and women’s labor rights protections in rural, developing world regions such as India. For instance, 1972 is when the Self Employed Women’s Association (SEWA) was registered as a trade union in India. Its main goals were full employment and self-reliance for women from the unorganized sectors. In the 1970s, several developing world countries saw the rise of microfinance interventions. What started as a public policy strategy and intervention for rural finance in the newly independent India of the 1950s has shaped subsequent patterns for rural credit and microcredit in most of the developing world. For instance, the Bank Dagang Bali (BDB) was established in Bali, Indonesia, in September of 1970, and the Grameen Bank was established in Bangladesh in 1974. Around the same time, the U.S.-based NGO Accion began to give loans in Brazil. The founder of the Grameen Bank, Muhammad Yunus, became a legend and is well known for his belief that women make better borrowers than men because they find ways to repay the loans. As a result, a development model has emerged that focuses on women’s self-empowerment through micro-entrepreneurialism and the promise of microfinance.
Simultaneously, in global settings, there emerged a model of “Development 2.0,” which uses Web 2.0 tools and practices to mobilize connectivity, action at a distance, and relational, interpersonal investments through digital and mobile tools. The resulting model of microfinance therefore occurs through Web 2.0 and mobile phone–based technologies and also works to connect women and girls from the Global North (including immigrants) and women and girls from the Global South through movements such as The Girl Effect. What we see here is a paradigm based in a neoliberal market economy framework that mobilizes women’s labor from the Global North and from the Global South in the service of a global digital financial capitalism. This article maps out a literature review that connects the idea of Development 2.0 with the economic and political visibility of the girl child and of the woman as the one who empowers while also still needing to be empowered.