Mohohlo due for key US summit

MBONGENI MGUNI
Staff Writer | Thursday January 17, 2013 00:00

 

Sponsored by the Federal Reserve Bank of Chicago and Visa Inc, the April 17 summit is the latest in a string of plaudits for Mohohlo, who has gained international renown in a global financial sector short of women.

The governor, who has been at the helm of the BoB since 1999, has been included in Forbes' 10 Most Powerful Women in Africa since 2011. Throughout her career, Mohohlo has also participated at executive level in numerous monetary policy and economic organisations and platforms.

In her Chicago assignment, Mohohlo will join Jorgovanka Tabakovi, National Bank of Serbia governor and Riad Salame Lebanon Central Bank governor in a panel discussion on improving financial literacy and capabilities for women.

Previous speakers at the summit include Federal Reserve chair Ben Bernanke, US treasurer Anna Escobedo Cabral, Canadian Finance Minister James Flaherty and other globally eminent fiscal and monetary policy leaders.

'Key questions that will be addressed at the summit include how to find solutions to improve women's capabilities globally, given their unique economic and financial literacy challenges,' a statement from organisers reads.

'Another question is how can government, NGOs, private sector organisations and educators work together to implement an effective, coordinated strategy for reaching women and equipping them with the necessary tools and resources to make wise financial decisions.' Mohohlo and her peers will also discuss the tools necessary for women's financial literacy, how to influence positive consumer behaviour with regard to financial habits and the financial education needs of women faced with long-term unemployment.

Visa Inc executives explained the rationale behind inviting Mohohlo and other monetary policy experts.'As we strive to improve the financial literacy of women in the United States as well as internationally, it's important that subject matter experts come together to share ideas and learn from one another,' said Jason Alderman, Visa Inc Senior Director of Global Financial Education.

'That is when solutions are discovered.'

For his part, Federal Reserve Bank of Chicago president and CEO Charles Evans said countries' economic progress are inextricably linked to the financial wellbeing of individuals.

'Clearly providing more and better financial education to the broadest segment of our population has never been more important than it is today,' he said.

In Botswana financial literacy is a fast emerging issue for government and private sector players, spurred on by data indicating increasing household indebtedness, default and rampant consumerism.