The ECOWAS Parliament has urged regional lawmakers to intensify efforts in promoting financial inclusion and investment opportunities for women in West Africa to foster female entrepreneurship and economic empowerment.
Speaker Memounatou Ibrahima made the appeal during the closing ceremony of the Third Extraordinary Session and Second Parliamentary Seminar in Lome, Togo, on Wednesday evening.
Ibrahima emphasized the Parliament’s dedication to tackling the numerous challenges faced by West African women, represented by the ECOWAS Female Parliamentarians Association (ECOFEPA). The event culminated in a symposium themed “Financial Inclusion and Economic Empowerment of Women in the ECOWAS Subregion.”
She stated that member states must ensure women have access to essential resources such as bank accounts, loans, and investment opportunities to unlock their potential.
“Women are agents of change and deserve support in their crucial roles to accelerate the achievement of the Sustainable Development Goals (SDGs),” Ibrahima remarked.
She highlighted the need for financial inclusion for women to transcend mere access to financial services, advocating that it should be regarded as a fundamental human right and a cornerstone of economic equality.
“Achieving true financial inclusion and economic empowerment necessitates collaborative efforts from all members of society to create policies that foster equity, enabling women to overcome existing obstacles,” she added.
Ibrahima acknowledged that the journey towards financial inclusion and empowerment is lengthy and called for robust advocacy to provide equitable opportunities for women entrepreneurs to thrive.
“We must commit to a future where every woman can reach her full potential, where economic barriers are dismantled, and financial inclusion is a reality for all. This is how we can eradicate poverty within our families and communities,” she stated.
Veronica Sesay, President of ECOFEPA, underscored that investing in and ensuring financial inclusion for women will create a more prosperous and egalitarian subregion, free from oppression and discrimination.
“Entrepreneurship serves as the gateway to women’s financial independence,” Sesay affirmed, noting that ECOFEPA is advocating for increased financial resources to empower women to achieve economic independence and pursue political ambitions.
Dr. Jewel Howard-Taylor, former Vice President of Liberia and Secretary General of the African First Ladies Peace Mission, encouraged women to take advantage of the Global Task Force to Empower One Million Women in the Trade Industry.
She urged regional leaders to facilitate women’s access to credit facilities to help them expand their businesses. “Closing the gender gap could lead to a $3 trillion increase in global GDP,” she stated, referencing a report.
