STEP 4A

Even as the operational mechanisms of the Code’s national program coalesce, National Champions and members of the National Coalition engage potential signatories to get their feedback on the emerging design of the Code and to recruit them to become Signatories. Potential signatories want to understand how they and their institution can benefit from participating in the Code and what is required. Effective messaging around these two questions is important. As much as possible, National Champions and other Code recruiters should tailor their pitch to address stakeholders’ specific priorities, but common benefits of Code participation include the following. The pitch book could be adapted for this purpose. ​

BENEFITS TO CODE PARTICIPATION

Benefits to FSPs​

  • Better understanding of market positioning and market gaps​
  • Improved business case for lending to WMSMEs with better data​
  • Improved profitability by better serving an untapped growth segment​
  • Use of analytics to improve products and services for WMSMEs​
  • Increased attractiveness to gender-lens investors to increase financing for WMSMEs​
  • Improved data and analytics through exposure to global best practices​
  • Improved compliance with regulatory or investor reporting requirements​
  • Brand benefits of increased focus on women in the market​
  • Elevated profile of leaders, especially women leaders, within the organization

Benefits to Government Bodies​

  • Better understanding of the constraints and costs facing WMSMEs ​
  • Improved financial services and resulting growth for WMSMEs ​
  • Rapidly improved reporting and compliance on WMSME data​
  • Global recognition for national focus on closing data and finance gaps​
  • Elevated profile of leaders, especially women leaders, in the country​
  • Better data and analytics to understand SME and WMSME finance constraints​
  • More collaborative approach with FSPs to foster trust and collaboration​guidelines are provided for anyone using the Code. ​

Benefits to Other Ecosystem Partners ​

  • Development finance and impact Investors will see increased pipeline potential for gender-lens investing​
  • Industry associations can support their members and increase financial inclusion​
  • Standard-setting bodies will have improved data for decision making and will see faster uptake of policies and processes due to concurrent system-wide action​
  • Researchers and technical specialists will have opportunities to support activities under the Code​
  • Industry associations, technical specialists, and standard-setting bodies can likewise accelerate impact 

There are several ways to build awareness and excitement for the Code and make the case for Code participation—before, during, and after its launch in the country. ​

  • Set and measure national targets: The National Aggregator can use the baselines reported through the Code to set national targets, helping to enforce the idea that data drives action and to increase the urgency to act.
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  • Draw in technical and financial resources: To differentiate the country as a woman-friendly entrepreneurial ecosystem, the National Coalition can work to attract gender-lens investors, donors, and technical assistance providers and collaborate with them on the Code’s rollout.
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  • Create working groups for peer learning: Signatories can be supported through peer learning engagements, such as working groups that delve deeper into specific topics. Ideally, this should be continued throughout the life of the Code to promote best practices and knowledge sharing.
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  • Showcase National Champions: National Champions should be willing to continuously speak up and advocate for the Code, especially among peers. Over time, the strongest case will 4Abe made by National Champions who can show the direct benefits their institution has derived from the Code. Speaking events, Op-Eds, interviews, networking, and business events are effective ways to share experiences and advocate for the Code.
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  • Showcase leaders and good practices: Spotlighting signatory institutions and their leaders can help sustain their engagement and encourage more FSPs to sign the Code.
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  • News/newsletters: A social media campaign and/or newsletters inform stakeholders about progress on the Code on a regular basis. Research, good practices, and updates on signings and commitments can be included, as well as repurposing materials disseminated through the Code’s global channel.
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  • Branding: The WE Finance Code logo can be used by countries and signatories of the Code. National programs can adapt the logo to include the local name of the Code and their country name. Branding guidelines are provided for anyone using the Code.