DIGICEL STRENGTHENS FEMALE WORKFORCE WITH ‘WILL POWER’ SERIES
As two more indigenous banks in the region go under, the Eastern Caribbean Central Bank (ECCB) is concerned about the status of the financial stability of the Eastern Caribbean Currency Union (ECCU).
In recent days, the National Bank of Anguilla Ltd (NBA) and the Caribbean Commercial Bank (CCB) were closed and their operations are to be transferred to a new entity.
Speaking on Wednesday, deputy governor of the Central Bank, Trevor Braithwaite spoke to the bank’s concern over the region’s financial stability.
“The Central Bank is very, very concerned about the maintenance of financial stability and good and sound banking practices,” he said.
Over the past seven years the Central Bank has had to intervene in the management of four of the region’s commercial banks. When asked if citizens have reason to be concerned about the banking sector in the Eastern Caribbean, Braithwaite gave an assurance that the ECCB is taking steps to safeguard their deposits.
“Our mandate is to make sure that these banks operate on a sound basis. We make sure there is good governance in these institutions, that depositors’ funds are protected, that creditors are able to get repaid and that there is general good banking business being conducted within our region,” he said.
Braithwaite said the indigenous and international banks in the region experienced a period of crisis during the global economic financial downturn which took root in 2008. He said the slowdown in economic activity resulted in a sharp increase of nonperforming loans on the banks’ books. The banks have since rebounded, but the ECCB remains cautious.
“What we’ve seen as the crisis has abated is that the levels on non-performing loans are actually coming down; that means, therefore, that banks are paying keen attention to make sure that they operate with a modicum of sensibility and also that they can preserve their existence through this crisis period and into the foreseeable future,” he noted.
Digicel has announced its latest internal initiative, the Women in Leadership Learning Power (WILL Power) series, aimed at empowering and grooming female employees for leadership roles across the organisation.
The WILL Power series is delivered in three phases – an intense leadership development workshop that packs learnings into four dynamic days as well as executive coaching and a strict mentoring/mentee programme that matches the participants with senior leaders within the business.
The leadership workshop delivers learnings through simulations, techniques and tactics to build and strengthen leadership and confidence skills, help with career navigation planning as well as expose participants to role models for success.
“We are committed to playing our part in bridging the gender gap across all our markets and ensuring that all our employees have an equal opportunity to grow and develop to their full potential,” said Kenneth McGrath, CEO, Digicel Caribbean and Central America. “And this is a commitment that is supported at the highest level, with our Chairman, Denis O’Brien being the biggest supporter,” he continued.
Since its launch in December 2015, the WILL Power series has received resoundingly positive feedback from the participants who have been inspired and empowered to turn their knowledge gained at the sessions into action. According to Donna Henry, who participated in the programme in Jamaica, “I have been in Digicel for over 12 years and have done several training sessions, but none of them compare to the WILL Power training. I feel truly empowered to do my job better and to do things I would not have done normally. The visioning exercise has also pushed me to take action for myself, so much so that I’ve since been able to take two critical actions that I’ve been avoiding.” Another aspect of the WILL Power series sees the company hosting forums across the Caribbean – the first of which was in the Turks and Caicos Islands under the theme ‘Developing and Empowering Female Talent in the Caribbean’.
Deputy Governor of the ECCB, Trevor Braithwaite.
Female participants empowered and ready to lead.