FinEquity Africa 2024 Annual Convening

Thank you for attending FinEquity Africa 2024 Annual Convening. CGAP convenes FinEquity, a global community of practice dedicated to empowering women through financial inclusion. FinEquity Africa was created as a regional branch to promote equitable access to and use of financial services across Africa by accelerating knowledge generation, fostering best practices and encouraging sector collaboration in the region. FinEquity Africa is powered by regional knowledge partners Graça Machel Trust, Financial Sector Deepening (FSD) Network and Digital Frontiers Institute. The regional hub is rapidly growing, with a reach of over 900 people.

In Africa, the intersection of social norms, gender dynamics, and climate change presents a complex landscape that significantly impacts financial inclusion for women. Social norms dictate the roles and responsibilities of women within their communities and households, often limiting their access to economic opportunities. Simultaneously, climate change amplifies existing vulnerabilities, disproportionately affecting women who are often responsible for securing food, water, and energy resources in their families. Recognizing these intersections is crucial for devising strategies that empower women economically, foster climate resilience, and challenge traditional gender norms.  

Read more about FinEquity Africa 2024 Annual Convening Key Takeaways.

Charting Paths to Empowerment: Highlights from the Women’s Digital Financial Inclusion Advocacy Hub in Ethiopia

The FinEquity Africa 2024 Annual Convening provided an arena for participants to identify unique challenges and innovative solutions that can be applied both locally and across the African continent. This year's meeting took place in Addis Ababa and was later followed by a reception.

OPENING 

FinEquity Global Facilitator, Aude de Montesquiou, and FinEquity Africa Facilitator, Rose Ronoh introduced the session. FSD Network's Gender Lead, Sophie Mills, African Union Commission's Head of Gender Policy and Development Division, Dr  Tapiwa Uchizi Nyasulu-Rweyemamu, Digital Frontiers Institute's Head of Stakeholder Engagement & Fundraising, Tariro Nyimo and New Faces New Voices Uganda Country Director Dr Theopista Ntale Sekitto talked about the main changes that need to happen to catalyze WEE through financial inclusion on the continent. 

1. Opening session slide deck

PLENARY: BARRIERS, OPPORTUNITIES, AND EXEMPLARS TO WOMEN’S ECONOMIC EMPOWERMENT AND FINANCIAL INCLUSION IN EAST AFRICA

Women around the world face a number of challenges that prevent them from accessing, using, and benefitting from financial services in a meaningful way. 

Caroline Morrow, a Senior Researcher and Program Manager at GRID Impact, presented GRID Impact’s research, Barriers, Opportunities, and Exemplars to Women’s Economic Empowerment and Financial Inclusion (WEE-FI), which examines 35 barriers inhibiting women’s access to and usage of financial services, which barriers are most relevant to specific segments of women in different markets, and made recommendations about interventions that might help remove, mitigate, or address these barriers. 

Caroline highlighted the interconnectedness of barriers to women's financial inclusion in Africa. She shared insights specific to the East African context and engaged with participants to identify innovative solutions that can be applied both in the region and across the continent.   

1. Plenary session slide deck

BREAK OUT: FROM COMPASS TO MAP: POLICY AND WOMEN’S FINANCIAL INCLUSION 

CGAP lead an insightful session which unpacked the intricate layers of policy surrounding women's financial inclusion. From national strategies to central bank circulars, the panelists explored the multi-layered approach needed to drive gender equality in financial access and empower women entrepreneurs.

Audrey Hove, Brenda Mwanza and Yasmin Bin-Humam shared experiences and perspectives on applying a gender lens at various levels of policy, regulation, and supervision, highlighting how these approaches intend to overcome contextual barriers. 

WORKSHOP: LEARNING FROM CLIMATE-SMART FINANCIAL SOLUTIONS THAT WORK FOR WOMEN

Across the globe, the impacts of climate shocks are intensifying existing gender gaps. Women are facing food scarcity, displacement, and an increasing number of off-farm responsibilities. These challenges then lead to greater risks of malnutrition and gender-based violence. Lucy Kaaria, Technical Specialist at FinEquity Africa, highlighted how FinEquity community members are developing innovative financial products and services that allow women to build resilience in the face of climate change, and to mitigate and adapt to climate challenges by creating productive livelihoods that are less vulnerable to shocks. Kevin Munjal from FSD Africa, Hana Alem from Village Enterprise and Tolulope Babajide from FSD Network shared how they are implementing climate-smart financial solutions that work for women.

1. Workshop slide deck

AGENDA AND SPEAKERS

View the FinEquity Africa 2024 Agenda and Speaker List.

COCKTAIL

FinEquity Africa 2024 Annual Convening closed off with a networking cocktail, graciously sponsored by the Bill and Melinda Gates Foundation.