On Tuesday, May 21, 2024, First Investment Bank’s (Fibank) Smart Lady program and Mentorite BG had the honor of hosting Ms. Cherie Blair, founder of the Cherie Blair Foundation for Women, at a working lunch. The event, held at the Residence Exclusive Club in Sofia, brought together female entrepreneurs from Bulgaria to discuss the topic of “Encouraging Women to Develop Sustainable Business.”
Lady Blair, an internationally renowned lawyer and social entrepreneur, was joined by CEO Dhivya O’Connor and senior partner at Omnia Strategy LLP, Ivaylo Dimitrov, as special guests. The Cherie Blair Foundation for Women, launched in 2008, has since impacted over 250,000 women in more than 100 low- and middle-income countries. Through its global mentoring platform, HerVenture business skills app, and training programs, the foundation has driven women’s success in business and had a positive impact on local communities, economies, and the environment.
“It was a great pleasure to meet the Smart Lady community and learn about their amazing stories. I congratulate First Investment Bank for this wonderful initiative driven by innovative thinking,” said Lady Blair.
Fibank, one of Bulgaria’s largest banks, is majority owned by Ivaylo Mutafchiev and Tseko Minev. The bank has invested over BGN 120 million in the Smart Lady program, which focuses on startups or existing businesses owned or managed by women. Along with tailored banking products and services, the program also provides access to mentoring sessions and training. Supporting sustainable entrepreneurship is another value that connects Smart Lady and the Cherie Blair Foundation for Women. In 2021, Fibank launched its Sustainable Lady Fund, which has provided instrumental support to a dozen projects in various industries, ranging from aviation and trade to social services, agriculture, and eco-livestock.
Ilona Staneva, Marketing and Advertising Director at Fibank, commented, “The goal of the Smart Lady program has been to become a trusted business partner for women entrepreneurs. In the early years, we focused on encouraging women to start and develop their businesses, on providing them with not only perfect banking, but also with the support they needed in the form of a women’s business community, education, and training. More recently, we have also sought to stimulate a sustainable transition to a circular economy by increasing the digital and environmental skills of female entrepreneurs.”
The Mentorite BG national mentoring program, which is supported by Smart Lady, also prioritizes the environmental impact of businesses. Since its inception in 2023, the program has become a training hub for more than 110 female participants, including three women from Yemen, Afghanistan, and Ukraine, who were selected to join the program by the United Nations High Commissioner for Refugees in Bulgaria.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.