Women’s Financial Inclusion Strengthened As ECOWAS Parliament Ends 3rd Extraordinary Session
By Innocent Odoh and Punarimam Fehintola in Lome, Togo
The Parliament of the Economic Community of West African States (ECOWAS) has ended its Third Extraordinary session and Second Parliamentary Seminar in Lome Togo, on Wednesday with calls for more financial inclusion and investments to promote women entrepreneurship and economic empowerment in West Africa.
Speaking during the closing ceremony, Speaker of the ECOWAS Parliament, Rt. Hon Memounatou Ibrahima, said the session offered the opportunity for the regional Parliamentarians to reaffirm their commitment to address the myriad challenges militating against West African women who are largely represented at the Parliament by the ECOWAS Female Parliamentarians Association (ECOFEPA).
During the sessions which commenced on September 24, ECOFEPA organized a symposium on “Financial Inclusion and Economic Empowerment of Women in ECOWAS sub region” on Wednesday October 2, 2024 to address the challenges women face in accessing financial services in order to promote economic empowerment.
The Speaker in her remarks called on the regional leaders and institutions to ensure that women have access to the resources that they need whether it is a bank account or a loan or investment opportunities so that they can realize their potential.
“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 realization of the Sustainable Development Goals (SDGs).
“Our collective responsibility is therefore to ensure that financial inclusion of women is not limited to access to financial services, but we must ensure it becomes 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.
“Let us bear in mind that the path to financial inclusion and economic empowerment is a long process. We need to advocate for equitable opportunities that will enable women blossom.
“Let us commit ourselves to the path where every woman will realize her full potential where economic barriers are eliminated and financial inclusion is a reality for all. This is how we can break the chain of poverty within our families and communities,” she added.
President of ECOFEPA, Veronica Sesay in her remarks said that investment financial inclusion for women will make the region more prosperous and egalitarian, devoid of oppression and discrimination against women.
She noted that “entrepreneurship is the gateway to women financial redemption,” stressing that ECOFEPA is pushing for more financial resources that will empower women to be economically independent and to pursue their political aspirations.
Former Vice President of Liberia and the Secretary General of the African First Ladies Peace Mission, Dr. Jewel Howard-Taylor, noted that the Global Taskforce to empower one million Women in the Trade Industry by International Business Leaders in Washington has opened more possibilities for West African women to benefit from the initiative.
She quoted a report saying that closing the gender gap will trigger a $3trillion GDP growth rate around the globe even as she called on regional leaders to ensure West African women have access to credit facilities to grow their businesses.