RMB Private Bank Backs Women Entrepreneurs

RMB Private Bank announced the launch of the first chapter of the Women President’s Organisation (WPO) in South Africa. The WPO is an international membership-based organisation for second stage entrepreneurs leading Multi-million Rand Companies who are MDs, CEOs, Presidents and Partners as well as shareholders in their businesses. The organisation was founded 12 years ago by Dr. Marsha Firestone, President, who recently attended the launch in Cape Town.

There are more than 1300 (accomplished) members worldwide of women entrepreneurs at the multi-million Rand level with membership demographics reflecting approximately R130 million turnover per member, with an average of 20 years in business and 97 employees. However, according to new research from Grant Thornton International, women still hold less than a quarter of senior management positions in privately held businesses globally, with only 28% of senior management positions held by women in South Africa.

The WPO was created for women leading multi- million Rand businesses and is an exclusive opportunity for accomplished business women to connect with one another to increase their personal and professional success through confidential collaboration with a group of diverse female entrepreneurs. Furthermore, the organisation provides a global platform for the sharing of experiences across a wide range of challenges from legal to financial to economic.

Approached by the WPO to initiate the first African chapter of this auspicious organisation in South Africa, Anni Bodington, WPO South Africa Chapter Chair and Managing Director of TESA Security Fencing, a multimillion Rand Manufacturing and Exporting concern, says “Though there are many groups for women, there is little support available to women who have achieved the level of business growth of second stage entrepreneurs. Women MDs, CEOs and Presidents encounter unique challenges in business and deserve a creative and supportive resource that provides knowledge and skills to help them excel as business leaders.”

The main objective of the organisation is to grow the businesses and build the financial success of women presidents through the development of innovative solutions to business challenges.

According to a 2008 survey conducted amongst members of WPO, 80% of members have grown their businesses since joining the organisation and 71% attribute the growth to their WPO experience.

“Our support of the WPO further reinforces RMB Private Bank’s commitment to the empowerment of women entrepreneurs in South Africa,” says Sean Farrell, CEO RMB Private Bank. We hope that through this sponsorship we will encourage more women to take up the challenge of starting their own businesses and thereby cultivate a culture of entrepreneurship that is the future of this country.”

“The WPO is different to any other women’s organisation currently in operation in South Africa due to the confidential 20 member round table format. In addition, the Global Membership in WPO is a badge of accomplishment for women who have taken their place amongst the upper echelon of the business world,” adds Bodington.