Goldman to Invest $100 Million to Teach Women about Business

One of the world's largest investment banks, Goldman Sachs Group Inc., the world's largest investment bank, has recently announced they intent to spend $100 million into the education of 10,000 women from the Middle East, Asia and Africa. The funds will be used to develop the business and management skills of women from these regions.

The learning sessions will be developed with major universities from the US and other countries and it will and will last from 5 weeks to nine months, reports CNN Money.

Goldman Sachs Chairman and Chief Executive Lloyd Blankfein said those recruited into the program will learn basic business principals such as marketing and funding their business ideas. The hope is that they return to their communities, put what they learned to use, and add to their local economies.

"For example, Africa has about 2,600 women business students in a 900 million person continent. ... That's a waste," Blankfein told The Associated Press. "Helping women get a business education is an issue getting riper and riper, and there's a feeling it is long overdue."

A study by the World Bank showed about 70,000 highly qualified African scholars and experts leave their home countries each year to work abroad, most relocating to more developed countries. Africa then spends about $4 billion a year to recruit expatriates to fill those positions.