The ECOWAS Parliament has urged regional lawmakers to intensify their efforts in advancing financial inclusion and investment opportunities for women across West Africa.
According to the News Agency of Nigeria, this call to action, aimed at fostering female entrepreneurship and economic empowerment, was made by Speaker Memounatou Ibrahima during the closing ceremony of the Parliament’s Third Extraordinary Session and Second Parliamentary Seminar, held in Lomé, Togo.
In her address, Ibrahima emphasized the Parliament’s commitment to tackling the numerous challenges hindering the progress of women in the subregion, a cause championed by the ECOWAS Female Parliamentarians Association.
She underscored the need for member states to prioritize providing women with access to essential financial resources, such as bank accounts, loans, and investment opportunities.
These measures, Ibrahima explained, are key to unlocking the potential of women as agents of change within their communities.
“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),” she stated.
NAN reported that ECOFEPA hosted a symposium under the theme:, ‘Financial Inclusion and Economic Empowerment of Women in ECOWAS Subregion’, as the highlight of the event.
This symposium served as a platform for deep discussions about creating opportunities for women to achieve financial independence and entrepreneurial success.
Ibrahima further stressed that financial inclusion should not merely be viewed as access to financial services, but as a fundamental human right that is vital for achieving economic equality.
She argued that sustained efforts from all sectors of society are required to formulate policies that promote equity and dismantle the barriers impeding women’s financial growth.
“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,” she noted.
Acknowledging the complexity of achieving full financial inclusion and empowerment, Ibrahima called for persistent advocacy and proactive measures to ensure that women have equal opportunities to thrive as entrepreneurs.
She encouraged all stakeholders to commit to a future where every woman can fully realize her potential, free from the economic barriers that perpetuate poverty.
“This is how we can break the chain of poverty within our families and communities,” she concluded.
ECOFEPA President Veronica Sesay echoed Ibrahima’s sentiments, emphasizing that financial inclusion and investment in women are critical to building a more prosperous and equitable subregion, where women are free from oppression and discrimination.
She highlighted that supporting women entrepreneurs is a key pathway to financial empowerment and independence, which in turn allows women to pursue their political and economic aspirations.
“Entrepreneurship is the gateway to women’s financial redemption,” Sesay remarked. “ECOFEPA is pushing for more financial resources that will empower women to be economically independent and to pursue their political aspirations.”
Additionally, Dr. Jewel Howard-Taylor, former Liberian Vice President and Secretary General of the African First Ladies Peace Mission, urged women in the region to capitalize on the Global Task Force to Empower One Million Women in the Trade Industry.
This initiative, backed by International Business Leaders in Washington, provides valuable opportunities for West African women to advance in business and trade sectors.
Howard-Taylor also encouraged regional leaders to facilitate greater access to credit facilities for women, emphasizing that closing the gender gap in economic opportunities could lead to significant global growth.
Citing a report, she noted, “Closing the gender gap will trigger a 3 trillion dollars GDP growth rate around the globe.”
This collective call for financial inclusion and investment in women across West Africa underscores the critical role that women play in economic development, and the need for systemic change to support their entrepreneurial endeavors.
