The Economic Community of West African States (ECOWAS) Parliament has called on regional lawmakers to intensify efforts aimed at promoting financial inclusion and entrepreneurship among women in West Africa. This appeal was made by Parliament Speaker Memounatou Ibrahima during the closing ceremony of its Third Extraordinary Session and Second Parliamentary Seminar held in Lomé, Togo.
Ibrahima emphasized the importance of addressing the numerous challenges faced by women in the region, who are represented by the ECOWAS Female Parliamentarians Association (ECOFEPA). The association recently organized a symposium focused on the theme “Financial Inclusion and Economic Empowerment of Women in the ECOWAS Subregion.”
In her statement, Ibrahima underscored that member states should ensure women have access to vital resources, including bank accounts, loans, and investment opportunities. She stated, “It is clear that women are change agents and they should be supported in the key role they play if we want to speed up the realization of the Sustainable Development Goals (SDGs).”
The Speaker highlighted that financial inclusion for women should extend beyond access to financial services, positioning it as a fundamental human right essential for achieving economic equality. “The path to true financial inclusion and economic empowerment calls for concerted efforts from all members of society to drive policies that will foster equity and enable women to overcome obstacles,” she added.
Ibrahima called for intensive advocacy to create equitable opportunities for women entrepreneurs, urging a commitment to eliminating economic barriers. “This is how we can break the chain of poverty within our families and communities,” she concluded.
Veronica Sesay, President of ECOFEPA, echoed Ibrahima’s sentiments, stating that financial inclusion for women would lead to a more prosperous and egalitarian subregion, free from oppression and discrimination. “Entrepreneurship is the gateway to women’s financial redemption,” she remarked, emphasizing the need for increased financial resources to empower women toward economic independence and political aspirations.
Dr. Jewel Howard-Taylor, former Vice President of Liberia and Secretary General of the African First Ladies Peace Mission, urged women to leverage the Global Task Force to Empower One Million Women in the Trade Industry, an initiative by International Business Leaders in Washington that provides new opportunities for West African women. She stressed the necessity for regional leaders to ensure that women have access to credit facilities to expand their businesses. “Closing the gender gap will trigger a $3 trillion GDP growth rate globally,” she asserted, referencing a recent report.