African women to get greater access to finance

Mar 22, 2010

Women in African countries are set to receive greater help accessing finance after banks and political leaders agreed to do more in this area at an event in Nairobi.

The African Women's Economic Summit, which took place on March 19th and 20th and was organised by the African Development Bank (AfDB) and the New Faces, New Voices network, was attended by 160 decision-makers from across the continent.

They agreed on two main goals - to encourage a substantial increase in the accessibility of financial services for females and to improve their leadership in the sector.

In order to achieve these aims, the AfDB said it will hold a Gender Equality and Women's Empowerment Forum at its forthcoming annual general meeting in the Ivory Coast and speed up the implementation of the planned Guarantee Fund for the Youth. "We have established a road map for women's economic empowerment and promoting financial inclusiveness and [are committed] to play our part," remarked AfDB President Donald Kaberuka.

Speaking at the event, Governor of the Central Bank of Kenya Njuguna Ndung'u said it is important that women of all income levels have their access to finance improved.