ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Thursday, February 25, 2021
Premium Times Nigeria
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
African Development Bank President (AfDB), Akinwumi Adesina

African Development Bank President (AfDB), Akinwumi Adesina. [PHOTO CREDIT: CNN]

AfDB calls for increased access to finance for women

byAzeezat Adedigba
November 27, 2019
2 min read

The African Development Bank(AfDB) has called for increased access to finance for African women.

The president of AfDB, Akinwumi Adesina, said this during the inaugural session of the Global Gender Summit going on Rwanda.

The African Development Bank and the government of Rwanda hosted the Global Gender Summit from 25 to 27 November in Kigali.

The summit is being organised by the Multilateral Development Banks’ (MDBs) Working Group on gender, for the first time in Africa, with the theme “Unpacking constraints to gender equality”.

In a statement sent to PREMIUM TIMES Tuesday evening, the AfDB president said the financial sector is saddled with the responsibilities to support Africa women by enhancing access to financial opportunity.

“From now on, we shall be grading every African financial institution for how well it helps women. Every financial ecosystem must evolve to support women. And we are going to put pressure on the guarantee banks,” he said .

He said 90 per cent of women usually repay loans without giving issues.

“When women borrow, they always repay. And 90 per cent of them repay their loans without the least problem. So, where is the risk? The problem is prejudice and the banks’ lack of flexibility,” Mr Adesina said

Panel session

During a panel session titled “Unlocking women’s access to finance in Africa”, the the Senegalese Minister of Women, Family and Gender, Salimata Diop Deng said women need support from the private sector and the banks to help them weave their way into the economy.

RelatedNews

EXCLUSIVE: How U.S. will recover $10.7m restitution from Obinwanne Okeke

EXCLUSIVE: Obinwanne Okeke to restitute $10.7million, forfeits wedding ring, cars to U.S.

VIDEO: What Bawa told Senate about himself

Police Funding: Senate approves N1.3 billion for teargas, N10 billion for others

She said it is essential for financial institutions to support initiatives from women but they lack resources, collateral, and the procedures for accessing loans are complicated.

”Holding discussions with countries to improve the business environment. What is especially needed is legislation that reassures the banks.” the president of the African Guarantee Fund, Andrew Temu said.

Also speaking, the CEO of Ecobank Group, Joséphine Anan-Ankomah, said her bank is already making strides to ensure gender parity.

Dangote adbanner 728x90_2 (1)

”The pan-African bank has signed up to the African Union gender parity principle of 50/50. “Currently we are at 46 per cent and out of that, 30 per cent of those women are in senior management positions,” she said.

Also, an entrepreneur, Christine Ngiriye, said collateral still remains an issue for women in getting finance or loans.

”I have seen little change in nearly 30 years, the problem that comes up again and again is that of collateral,” she said.

Five priority areas to achieve gender parity

On its website, the AfFB said a McKinsey Global Institute (MGI) report prepared with McKinsey & Company, Africa, titled ”the power of parity: Advancing women’s equality in Africa” found that accelerating progress towards parity could boost African economies by the equivalent of 10 per cent of their collective GDP by 2025.

The report which was launched Tuesday at the 2019 Global Gender Summit examines the potential boost to African economic growth as a result of accelerating progress toward gender equality.

The first and second priority in closing gender parity, according to the report, is investing in human capital and creating economic opportunities.

ADVERTISEMENT

“Women need economic opportunities if countries are to realize the full potential of their human capital,” the report said.

The third priority is to leverage on technology.

“Digital and internet technology is spreading throughout Africa and can be the lever that opens many doors to women, helping to overcome current challenges on a number of indicators of gender equality,” the report also advised.

“Priorities include creating women-friendly products to drive digital inclusion; and spreading the use of digital to raise financial inclusion and empower female entrepreneurs.”

The fourth priority is shaping attitudes. The report said any drive towards gender parity in Africa starts with efforts to change entrenched and widespread attitudes about women’s role in society.

While the fifth priority is to enforce laws, policies, and regulations,”Africa needs to ensure that women’s rights are enshrined in law and that, where laws already exist, they are rigorously enforced.”

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (0)
premiumtimes



PT Mag Campaign AD

Previous Post

Crisis rocks Nigeria’s investment agency over ‘anti-Buhari’ comment

Next Post

EXCLUSIVE: Black Face apologises to 2baba

Azeezat Adedigba

Azeezat Adedigba

Azeezat Adedigba covers the education and labour sectors for PREMIUM TIMES. She is also an investigative journalist and the winner of the 2019 Female Reporters Leadership Program (FRLP) organised by Wole Soyinka Centre for Investigative Journalism (WSCIJ). Azeezat is passionate about women and children advocacy. She holds a degree in Mass Communication from the University of Jos. She can be reached on Twitter @Adebimpe57.

More News

Shina Atilola

Merchants on PaywithSpecta platform are enjoying increased sales – Atilola

February 22, 2021
Cryptocurrency Bitcoins

CBN’s concern with cryptocurrency in order — IMF

February 18, 2021
Bitcoin used to illustrate the story.

Nearly 50% of consumers not okay with buying with Bitcoin — Survey

February 17, 2021
Cryptocurrency Bitcoins

SEC backs CBN, suspends approval of cryptocurrency-related products

February 12, 2021
Bitcoins

Why we banned cryptocurrency transactions – CBN

February 7, 2021
Bitcoin used to illustrate the story.

Other countries, besides Nigeria, where authorities won’t let you use cryptocurrencies

February 6, 2021
Next Post
Ruggedman blasts Blackface for condemning 2Face-led anti-govt protest

EXCLUSIVE: Black Face apologises to 2baba

Nigerian businessman and founder of Air Peace Limited, Allen Onyema. [PHOTO CREDIT: Thisday Live]

TIMELINE: How U.S. started investigating Allen Onyema for multi-million dollar fraud

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


NITDA Ad





Glo Ad

Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,624,020 other subscribers.

Advertisement






netherland biz school Advert

Zenith Advert
ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.