Fighting for women everywhere

CEO of microfinance organisation Grameen Australia, Jamie Terzi, has travelled across the globe to address systemic issues facing women. She is this week’s Changemaker.

Jamie Terzi has always been motivated to work in the community sector.

“As a child of immigrants,” she says, “I saw the hard work and sacrifices my parents made to provide a better life for my siblings and me. This motivated me to work directly with people and create positive change in the world around me.”

Terzi started her career working across women’s and community health, psychiatric disability and family violence – a diverse portfolio with one thing in common: it highlighted the systemic issues facing women and their potential in society.

A leap of faith saw Terzi fly to Pakistan to volunteer with an Afghan women’s organisation supporting refugees, an opportunity that fed her passion for social justice and inspired her to stay in the region.

Over the next 15 years, Terzi took up roles with global humanitarian charity CARE to address food security, climate change, violence against women and economic development across Afghanistan and Bangladesh. In 2017, she landed in Atlanta as vice president for program, partnerships, and learning with CARE USA. 

Now back in Australia, Terzi is the new CEO of microfinance organisation Grameen Australia, which provides small loans, financial training and support to women with enterprise aspirations who are experiencing unemployment, financial hardship and poverty.

“Throughout my career, I have always been committed to gender equality and improving women’s options and outcomes. I am proud to lead an organisation that empowers women and helps them create a better future for themselves and their families,” Terzi says.

In this week’s Changemaker, Terzi explains why we need to raise the profile of microfinancing; how valuing local experience is critical to enacting change; and her methods for unwinding while looking after four young boys.

What does this role mean to you?

The past 20 years of my life and work overseas have been fulfilling, but they have kept me away from my family. My parents are ageing, and my priority is to support them at the end of their lives – it was time to come home.

Having worked with community leaders in Afghanistan and Bangladesh, I was struck by their passion and motivation to make change in their own countries. This experience motivated me to contribute to positive change in my home country.

Leading Grameen Australia allows me to apply my overseas experience in an Australian context. It’s exciting to have the opportunity to contextualise a globally-proven model in Australia and make a difference in my own community.

What’s the biggest lesson you’ve learnt from working in international development?

There are social problems all over the world – they are never just somewhere else. Whether it’s family violence, food security or financial exclusion, issues exist in every country not just “over there”.

There is no best practice – solutions cannot be plonked from one context to another but lessons can be drawn and models adapted to suit the local context. It’s essential to value local experience and understanding when looking at making change.

There is always a way to make change. People with courage work to change lives and opportunities every day even when it means challenging social norms or threats to their safety.

The world is in constant change and increasingly, questions around who has legitimacy of voice, who has power and how it is used are more and more important.

Explain the link between microfinance, poverty eradication and gender equality.

Microfinance, poverty eradication, and gender equality are closely linked. Microfinance provides people on low incomes with access to finance at fair rates. It contributes to poverty eradication by enabling people to start their own businesses, earn an income, and become financially independent.

It’s been recognised as a powerful tool for gender equality because poverty often disproportionately affects women. When women earn an income, it has a ripple effect on their children and communities, breaking the cycle of poverty.

Grameen research shows that the model reduces financial hardship, increases business earnings and savings, and improves overall wellbeing, financial empowerment and social support.

What are the challenges facing microfinance in Australia and how can these be overcome?

Microfinance has the potential to scale significantly in Australia, as demonstrated by the success of Grameen America in supporting 164,000 women entrepreneurs.

To achieve that scale here, we need seed funding like any other start-up business. While Grameen’s model aims to be self-sustaining over the long term, it requires government funding, private investment and donations to establish a strong operating model. We’re also exploring alternative funding sources, such as impact investing and corporate partners, to address this funding challenge.

In addition to funding, we need more public awareness about the benefits of microfinance for women entrepreneurs and underserved communities. We’re increasing our marketing efforts to raise awareness about how microfinance works and its positive impact on women’s lives.

What motivates you?

My motivation stems from my work’s direct impact on improving people’s lives. Working alongside communities, learning from them and seeing the richness of people’s lives is truly inspiring.

How do you relax after work?

I have four young boys, so my time to relax is limited! I enjoy cooking and eating food, going on hikes and bike rides with my family, seeing my friends and working my way through every Star Trek episode ever screened.

What do you want your legacy to look like?

I don’t need a legacy – I hope my boys will grow into respectful people who contribute to the world around them. Additionally, I hope that people I’ve worked with and for, feel that I’ve supported them in their efforts to make change and I’ve been of value and service.