Program

Sourcing2Equal Colombia

Increasing Access to Markets for Women-Owned Businesses

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Sourcing2Equal is an IFC-led initiative, in partnership with the Women Entrepreneurs Finance Initiative (We-Fi) and Norway, that aims to connect thousands of women entrepreneurs to new markets via corporate procurement. Globally, less than one percent of procurement purchases made by large companies is earned by women-owned businesses.

Sourcing2Equal Colombia, launched in 2023, is the second country program under the Sourcing2Equal Global program that brings together corporate buyers operating in Colombia to make specific, measurable, and time-bound commitments to increase access to corporate procurement opportunities for women-owned small and medium enterprises (WSMEs). It also strengthens the business capacity of WSMEs suppliers on procurement readiness to overcome the barriers they face to meet buyer procurement requirements and become eligible to participate in private sector procurement, and facilitates linkages between buyers and suppliers.

Through the program, corporate buyers in Colombia will participate in peer learning events to share their expertise and expand their knowledge of best practices in gender-inclusive sourcing, as well as receive one-on-one expert mentoring and sounding board guidance to achieve their gender commitments.

A Business Opportunity

Supply chains are an important lever for the private sector to create a positive and sustainable impact. This includes supporting the growth of women-owned/led suppliers, distributors, and retailers, and investing in women’s employment and leadership across the supply chain. Building diverse and inclusive supply chains create economic opportunities for disadvantaged groups, while building greater corporate resilience and responsible business practices that can sustain today’s complex environment of supply disruptions and evolving customer preferences. Companies can address the gender imbalance in their supply chains by purchasing from more women, in other words, establishing gender-inclusive sourcing operations. Fixing the gender disparity in supply chains can help boost productivity, support sustainable business practices, and promote innovation for buyers.