West African Women’s Financial Inclusion and Empowerment Takes Center Stage
The Economic Community of West African States (ECOWAS) Parliament has called on regional parliamentarians to prioritize the financial inclusion and investments of West African women, aimed at promoting female entrepreneurship and economic empowerment. This comes as a crucial step towards bridging the gender gap and promoting economic equality in the region.
At the closing ceremony of the Third Extraordinary Session and Second Parliamentary Seminar in Lome, Togo, ECOWAS Parliament’s Speaker, Memounatou Ibrahima, emphasized the importance of ensuring women have access to resources such as bank accounts, loans, and investment opportunities. "It is clear that women are change agents and they should be supported in the key role that they play, if we want to speed up the realisation of the Sustainable Development Goals (SDGs)," Ibrahima said.
The Speaker stressed that financial inclusion of women is not only about access to financial services but should be a fundamental human right and a pillar of economic equality. "Clearly, the path to true financial inclusion and economic empowerment calls for concerted efforts of all members of the society to drive policies that will foster equity to enable women overcome the obstacles facing them," Ibrahima noted.
Veronica Sesay, President of the ECOWAS Female Parliamentarians Association (ECOFEPA), reiterated the importance of investment and financial inclusion for women, stating that it would make the subregion more prosperous and egalitarian, devoid of oppression and discrimination against women. Sesay urged ECOFEPA to push for more financial resources to empower women to be economically independent and pursue their political aspirations.
Dr. Jewel Howard-Taylor, former Liberian Vice President and Secretary General of the African First Ladies Peace Mission, encouraged women to leverage the Global Task Force to Empower One Million Women in the Trade Industry. She also emphasized the need for regional leaders to ensure West African women have access to credit facilities to grow their businesses. "Closing the gender gap will trigger a 3 trillion dollars GDP growth rate around the globe," Howard-Taylor said, quoting a report.
The ECOWAS Parliament’s call to action highlights the importance of addressing the numerous challenges faced by West African women, including limited access to financial resources, economic inequality, and gender-based discrimination. As the region continues to strive for economic development and sustainable growth, the financial inclusion and empowerment of women remain crucial components of achieving this goal.
