*This article is published as a recognized Best Corporate Social Responsibility Practice for 2024, under the framework of the “Partnership for Giving” project, implemented by Association Konekt and AmCham North Macedonia, with support from USAID.
In a country where gender equality remains an ongoing challenge, Halkbank is taking a bold and innovative approach to make a difference. Through its “Dresses with Pockets” campaign, the bank is doing more than just launching another corporate social responsibility (CSR) initiative. It’s leading a movement aimed at empowering women, promoting financial independence and fostering long-term gender equality.
The overall access that women historically have in terms of financial literacy, equal economic opportunities and assets, has been very limited (in certain socio-geographic areas, practically non-existent.)
We whitness short – term “campaign sprints”, that are almost flirting with the idea of women empowerement, but they seem to lose the tempo shorty after their launch. Halkbank wanted to take a different, bolder, more dedicated and thorough approach. A different route that will not be strickly product – based, but focused on building a strong, yet very organic financial “eco system” where Halkbank is directly empowering women in building their own support network that has financial independence and economic freedom at the very essence.
Where does one start a CSR initiative that focuses on the age – long problem of women’s financial independence?
In one of her revolutionary esseys, “A room of one’s own”, the great Virginia Woolf writes the notorionsly simple truth: “A woman must have money and a room of her own if she is to write fiction.” *
The starting point of setting the strong foundation of what later will turn out to be one of the biggest publicly ackonwledged corporate initiatives, were (not that) simple questions.
How financialy vulnerable are women and why?
The reseach shoved devastating statistics and public opinnion on the matter.
In the report conducted by the National network for protection from violence against women**, the statisticss clearly show that women tend to stay in hostile enviroment, and choose silence due to unemployment and financial instability, fear of losing their home, fear of uncertain future.***
The report also shows that due to lack of access of educational tools, women are not aware of the state-granted funds for self employment, and the legal frames protecting them from violence**
Prior to the 8th of March, the International Women’s day, the bank set out to create a platform that would extend beyond one month and spark lasting conversations around gender equity. The campaign focal point – the symbolic “pocket” in womens clothing – was chosen to represent the financial independence that many women still lack. Pockets in womens clothing often serve a decorative function, while mens clothing has deep, practical pockets – an unspoken but telling metaphor for the disparities in financial empowerment.
This campaign is not just about promoting a product directly intended to the women and the support of women enterpreneurship; it’s about addressing an age-old issue with a fresh, creative perspective. The lack of financial freedom and independence for women isn’t merely a social issue, but a pressing economic one that impacts families, communities and the nation. Halkbank strategic approach to this problem centers on empowering women through financial tools and products, but also through education, dialogue and community-building.
At its core, this initiative is about supporting women unlock their potential by providing them access to financial means. Financial independence is a prerequisite for freedom in all aspects of life. It’s about more than having a bank account – its about control over ones economic future. This is especially crucial in a country where, in 2021, women made up only 19% of employers and 22% of the self-employed. These statistics reveal a troubling gender gap in the workforce that Halkbank is determined to address.
With the “Dresses with Pockets” campaign, Halkbank message is clear: women deserve the same financial opportunities and freedoms as men, and the bank is committed to making that a reality. The initiative goes beyond words and statistics, actively working to change the narrative. The bank’s tailored financial packages for women entrepreneurs are designed to encourage growth in female-owned businesses, providing real, tangible support to women looking to start or expand their enterprises. By focusing on micro, small, and medium-sized businesses, where women are often the primary founders or owners, Halkbank is fostering a more inclusive economy.
One of the most innovative elements of the campaign is its use of fashion as a medium for social change. Halkbank partnered with Macedonian fashion designers to create dresses with functional pockets, symbolizing the financial freedom that women deserve. The campaign’s launch event – a fashion show featuring these designs to raise funds for the National Network Against Violence Against Women. This campaign overall raised over 155.000 denars (in 2022) and 118.600 denars (in 2023), with all proceeds donated to support women affected by domestic violence.
This innovative approach to CSR has set Halkbank apart from other initiatives. Rather than just donating money or sponsoring events, Halkbank has found a creative way to engage the public in a conversation about gender equality while also directly supporting women in need. The campaign didn’t stop at the fashion show. It continued with business conferences and networking events designed to inspire and empower women entrepreneurs. At the inaugural “HalkTalk” business conference, successful female business owners shared their personal experiences, encouraging women to support each other and pursue financial independence.
The bank recently launched the second phase of the campaign with new designs, fresh digital content and the continuation of its financial product offerings tailored to women entrepreneurs. At the “HalkMatinèe” event, attendees were introduced to new financial tools, while the latest dress designs were once again auctioned to raise funds for the intervention fund of the National Network Against Violence Against Women.
To date, the campaign has achieved measurable results. Halkbank has seen a significant increase in female-led businesses within its portfolio. What was once an 80-20 split between male and female-owned businesses is now a 72-28 ratio. The number of women – enpterpreneurs, new and already established in the business community is constantly on the rise. Besides the direct, unwavering support towards the business community, Halkbank has established strong relations with the civil ogranisations and platforms that are primarily focused on support for women, and female- led intitiatives. Halkbank steadily and successfully changes the narrative of support towards the topic of women’s financial freedom, and inspires other companies and partners in investing in programmes that are dedicated towards empowering women.
This upward trend is a testament to the impact that a strategic, well-executed initiative can have on fostering female entrepreneurship and financial independence.
But the impact goes beyond numbers. The real change lies in the conversations that have started, the community of women that has been built, and the lives that have been touched. The bank’s campaign has inspired public dialogue on the need for financial equality and has given women the tools and encouragement to take charge of their own financial futures.
Halkbank strategic approach to CSR is rooted in a long-term vision for a more equitable society. The bank understands that gender equality is not just a moral issue but an economic necessity. By empowering women financially, Halkbank is helping to build a more robust, diverse and resilient economy. Their approach is both innovative and unique-using a symbolic and creative campaign to make a real-world impact on women’s lives.
As Maja Naumovska Saveska, a spokesperson for Halkbank, stated: “Our ‘Financial Freedom’ platform, through various channels, projects and campaigns, raises awareness of gender challenges while offering real financial support to women entrepreneurs. The results speak for themselves – more women-led businesses, greater public awareness and a strong network of women supporting each other. We are proud to lead this movement and to contribute to the financial independence of women across the country.”
“We are trully grateful to the unwavering support that Halkbank provided this year as well, and for reckognizing the essential importance for helping the women who are facing this type of violence.This is the second year that they are supporting us, support that enables us to succesfully proceed with our mission: providing complete help for the women and children – victims of domestic violence.Our partnership with Halkbank is of crucial imporatnce for us, because it allows us not only to continue, but to broaden our scope of activities towards providing long-lasting stability and bigger security for women. Thanks to this partnership, women have great chances for new beginning and brighter future ahead of them.”, said Ana Avramovska Nushkova, project coordinator in the National Network Against Violence Against Women.
Halkbank Strategic Philanthropy its about creating a meaningful and lasting impact on society, starting with the financial empowerment of women.
Halkbank is a perfect example of what happens when great initiatives come across bold individuals and corporations ready and willing to support what truly matters in a society.
The strenght of one company is oftenly measured not by revenues and cold numbers, but with the long lasting impact that is being carried on by their actions. In a society as diverse as this, there are myriads of great initiatives that all companies can partake.
Which one are you choosing?