Empowering Women: Dominic Ng Speaks with Andrea Jung

Dominic Ng: As Chairman and CEO of Avon, you were the longest-serving female CEO of a Fortune 500 company. What inspired you to transition from Avon to Grameen America?

Andrea Jung: From a young age, I knew I wanted to make a difference. Given the financial limitations my family faced, I was expected to enter the workforce after college rather than pursue something like the Peace Corps. Over time, I realized it's possible to do both—love your career and create meaningful societal impact. I found that balance during my years with Avon and now again at Grameen America.

At Avon, I witnessed firsthand the transformative power of providing economic opportunities for women all over the world, especially as many of our millions of sales representatives were in developing countries. Similarly, my transition from Avon to Grameen America was driven by my continued deep passion for economic empowerment for women.

Grameen America was founded by Nobel Peace Prize Laureate Dr. Muhammad Yunus who pioneered a model for microfinance lending in Bangladesh. This model was replicated in the U.S. so that access to capital could help underserved women entrepreneurs build businesses and achieve upward financial mobility.

Dominic Ng: Can you elaborate on how Grameen America supports underserved women entrepreneurs?

Andrea Jung: Grameen America provides affordable microloans, financial education, and peer networking to women living in low-income and underserved communities across the country. We offer loans without requiring collateral, which is a significant barrier for many women who are generally shut out of the financial system. Our financial education programs help women understand credit and develop essential business skills. We also foster a supportive community where members encourage and learn from each other.

Dominic Ng: Is there an entrepreneur story that stands out for you?

Andrea Jung: At Grameen America, we have what we call an empowering scale engine. As of 2024, we have invested $4.5 billion in 205,000 women across 27 cities. Our model transforms philanthropy into a catalytic agent, unlocking the scale and impact of true social businesses. We have a 99.8% repayment rate, and every $1 invested yields $13 invested into the program over five years.

One Grameen America loan recipient that stands out to me is Evelyn, a mother and third-generation entrepreneur now running three successful businesses in Los Angeles. She started with an initial $1,000 loan from Grameen America in 2015. She used that first loan to grow her business selling children’s toys. Having her own business allowed her to build financial independence and spend more quality time with her two daughters. Evelyn’s toy store has been in business for nine years now, and thanks to her ongoing support from Grameen America, she has since started two additional businesses—an electronics store and an anime store. Evelyn is a radiant example to her daughters, who are following in her entrepreneurial footsteps. Her teenager is pursuing a certificate in business administration, and her youngest daughter is already selling snacks on weekends.

Dominic Ng: You have held national leadership roles, serving on the boards of some of the largest multinational companies like Apple and Unilever. How do you approach leadership?

Andrea Jung: Leadership is defined by inspiring others and the ability to create a legacy of lasting impact. A clear vision paired with genuine dedication to the mission is crucial. In the nonprofit world, empathy and resilience are key—leaders must deeply understand the challenges their communities face and stay committed to driving meaningful change. At Grameen America, we go beyond financial support, offering peer mentorship and training that empower women to thrive and uplift their communities.

Dominic Ng: You are known for being one of the most influential woman executive leaders in the U.S. and globally. Who is your inspiration?

Andrea Jung: So many women have encouraged and supported me along my journey, but I have to start with my mother, who has always been my greatest inspiration. As a chemical engineer and a working mom born in Shanghai, she was truly ahead of her time. My Chinese parents raised my brother and me with a strong set of ethics and particularly promoted gender equality—always teaching me that girls could achieve anything boys could. They taught us the value of hard work and perseverance and never giving up and never placing limits on our dreams. That mindset has influenced everything I’ve pursued in life.