Women’s World Banking has hosted an impactful event bringing together industry leaders, policymakers, and advocates from across Africa to address the urgent need to empower nearly one billion women excluded from formal financial systems worldwide. The event underscored the critical barriers and opportunities surrounding women’s financial inclusion and the pivotal role of leadership in driving meaningful change.
Mary Ellen Iskenderian, CEO of Women’s World Banking, emphasized the importance of expanding microfinance institutions and creating tailored programs targeting women. She highlighted how these initiatives can provide essential capital for women to start and grow their businesses, significantly impacting their economic empowerment.
Credit guarantee schemes were spotlighted as crucial in mitigating risks for financial institutions lending to women-led enterprises. Addressing the $42 billion financing gap identified by the African Development Bank, Iskenderian stressed these schemes’ vital role in supporting women entrepreneurs and closing the financial inclusion gap.
Angela Wambugu, Director of Advisory Services—Africa at Women’s World Banking, called for policy reforms and innovative financial products specifically designed to meet women’s needs. She explained how equal rights to property and inheritance are fundamental in empowering women economically, thereby facilitating easier access to credit.
Since 2018, Women’s World Banking has enabled 1.6 million African women to access financial solutions by collaborating with over 20 financial service providers in the region. Their efforts have significantly enhanced financial resilience and expanded access to credit for women-led MSMEs across Rwanda, Nigeria, Egypt, Kenya, and Ghana.
The organization’s Leadership and Diversity Program for Regulators was also highlighted as a key initiative aimed at fostering financial resilience and expanding opportunities for women entrepreneurs. These combined efforts reflect Women’s World Banking’s commitment to driving impactful change and empowering women economically across Africa.
#WomensWorldBanking #FinancialInclusion #WomenEmpowerment #Africa #Microfinance #Leadership #EconomicGrowth #FinancialServices #WomenInBusiness #PolicyReform
