While Africa has a gender inclusion gap of 12%, compared with a global average of 4%, according to the Global Findex 2017 report, the African Development Bank is putting in place initiatives aimed at reducing this gap. It is with this in mind that the multilateral institution, via the African Digital Financial Inclusion Facility (ADFI), is supporting the West African Monetary Agency (WAMA) to develop a harmonized, gender-focused digital financial inclusion framework for use by digital financial inclusion stakeholders in ECOWAS countries.
“Transforming the continent’s key sectors into accessible terrains of opportunity, where women, girls, men and boys, regardless of their background, enjoy equal access to and control over productive resources and benefit from infrastructure and support services to thrive » is since February 3, 2023, one of the flagship objectives launched by the African Development Bank for the period 2021-2025. This initiative is being implemented in a context where Africa has a gender inclusion gap of 12%, compared with a global average of 4%, according to the Global Findex 2017 report.
« This project, financed by the African Development Bank and implemented by « Wamma », comes at the right time in the socio-economic development of our region, as most of our economists are firmly committed to the initiative aimed at financing financial inclusion through a considerable number of means such as digital financial services ».
KINZA JAWARA-NJIE, Senior Programme Officer at the ECOWAS Commission – Gambia
In West Africa, for example, a recent gender disparity index is 0.825 compared to the African average of 0.871. In this region, gender inequality is due to a combination of factors such as unequal opportunities in education and economic development, according to observers. According to official figures, 70% of women on the continent are in vulnerable employment, with little or no access to digital financial services.
« The informal sector is vital to the African economy. It accounts for almost 70 per cent of employment. The sector is characterized by a high representation of women, low incomes and wages, low productivity and poor working conditions. A key aspect of the economy is the representation of small businesses by women, who play a predominant role. Despite the recognition of the importance of women in the African economy, the United Nations in 2020 and 2021 noted that women and girls have experienced unequal growth, which is contrary to all the efforts already made to improve the conditions of women in recent decades ».
AKOLISA UFODIKE, Professor Associate of Audit and Data Analysis – Nigeria
In order to reduce the gender inclusion gap, the African Development Bank, through the African Digital Financial Inclusion Facility (ADFI), is supporting the West African Monetary Agency (WAMA) to develop a harmonized, gender-focused digital financial inclusion framework for use by digital financial inclusion stakeholders in ECOWAS countries.
« Speaking of the socio-economic role played by women in our societies, it is important to ensure that they have access to financial services, to credit, savings and payment services to enable them to create income-generating activities and thus help their economies to grow ».
NGOYE YACINE NIANG DIARRA, Head of the Department for the Promotion of Financial Inclusion at BCEAO – Senegal
As part of its strategy, the African Development Bank intends to strengthen gender equality and the empowerment of women and girls through the implementation of the AfDB’s High 5 for Transforming Africa. The financial institution also intends to integrate the gender dimension into all national and regional operations.